Frequently Asked Questions

 
 

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how do I show proof of my identity?

  • Copy of  a Valid Driver or State License
  • Copy of Social Security Numbers (children and spouse)
  • Last year tax return 

What is reportable income?

  • All W-2’s for income earned
  • 1099-G for Unemployment Benefits
  • 1099-for miscellaneous income
  • 1099-R for pension and annuity income
  • RRB-1099 for Social Security/RR1 benefits
  • 1099-G State and local tax refunds
  • Amount of alimony received
  • Jury duty compensation
  • Prizes and awards
  • Gambling and lottery winnings
  • Scholarships and fellowships
  • Trust Income

Can I deduct mortgage expenses

Yes, provide the following documents:

  • 1098 for all mortgages interest (1st, 2nd, 3rd, etc.)
  • Real estate property taxes paid

What are some deductions or income I can claim?

  • Auto loans and leases (account numbers and car value) if vehicle used for business
  • Student loan interest paid
  • Early withdrawal penalties on CDs and other time deposits
  • 1099-INT  and 1099-OID for Interest income
  • 1099-DIV for Dividend income
  • 1099-B for proceeds from broker transactions
  • 1099-R for retirement plan distribution

 

What information do I need for the childcare deductions?

  • Child care provider’s Name, Address, EIN or SSN and the amount paid.

what are itemized deductions?

  • Charitable gifts (any donation of $250 or more must be verified with a qualified written statement from organization)
  • Unreimbursed expenses related to volunteer work
  • Unreimbursed expenses related your employment  (expenses, subscriptions, travel, uniforms, union dues)
  • Investment expenses
  • Job-search expenses
  • Job-related educational expenses
  • Child care expenses
  • Medical savings accounts
  • Adoption expenses
  • Alimony paid

What documentation do I need to show for business income and expenses?

  • 1099-MISC for Business income or own records
  • Self Employed Income
  • Receipts and other documents for business related expenses
  • Receipts and other documents for Farm Related Expenses
  • Payment records and additional business taxes paid or Employment taxes paid

other documents to consider for filing your taxes?

  • Cancelled checks, tax vouchers,  or other payment records for local, state an federal income tax paid for current year
  • IRA and other retirement plan contributions, If self-employed, identify if expense was for self or employees
  • Records documenting medical expenses
  • Records documenting any other expenses that may be deductible
  • Records documenting any other revenue received for sale of property that may be taxable or reportable