Frequently Asked Questions (FAQ's)
What paperwork should I bring to my tax appointment?
Below is a list of documents to bring with you to your tax appointment.
PERSONAL INFORMATION FOR EACH FAMILY MEMBER:
What documents should I receive from my employer?
Please bring your W-2 from your employer. Or if you were an independent contractor for example from Uber, Avon, or Door Dash, bring the 1099 Form. Also bring proof of Medical Insurance.
What documents do I need if I am unemployed?
You will need to bring your 1099- G form. The IRS will also receive a copy. You will be taxed based upon your overall tax bracket for the year. The great part is, if you worked part of the year, you may be eligible for a refund.
What documents do I need if I am self-employed?
You will need to bring any supporting documents to help verify your income. This could be money received from your CashApp, Venmo, PayPal, or anything similar. In addition, we can review your bank statements. This information will be used to file a Schedule C using IRS Form 1040. Depending on your type of business and where you conduct business, there may be other forms you will need. You may also need to make quarterly estimated payments by filing Form 1040-ES, Estimated Tax for Individuals.
What documents do I need if I am divorced?
Start from the beginning. You will need to change your withholding's on the W-4. Fill out form SS-5 with the Social Security Administration to change your name. These steps will help avoid any unnecessary IRS headaches.
What documents do I need if I have a mortgage?
Please bring the 1098 form from your Mortgage Company.
When is the deadline to file my taxes?
The standing deadline for personal taxes is April 15th, March 15th for business taxes, unless otherwise directed by the IRS during national emergencies.
When is the earliest that I can file my taxes?
As soon as you have your W-2 Forms or after 12/31 and you have all of your earnings from the previous year. IRS opens tax portal January 29, 2019. The key is to be among the first in queue.
Is there a penalty for filing my taxes after the deadline?
Yes. It is illegal to neglect filing taxes if you think you owe. First, the IRS does allow you to pay your tax obligation with an installment plan. Second, it's important to put together a plan with your tax professional.
Can I claim charitable donations without a receipt?
Yes. It's crucial you keep great records of your donation history. The current tax changes have increased the amount of allotted standard deductions. Therefore, you can review your charitable donations with one of our tax professionals.
Can I deduct expenses paid for repairing my home?
Yes and No. Yes, if you used your home as a primary space to conduct business. No, if your home repairs were basic home upkeep repairs. This question is best answered by one of our tax professionals.
What tax consequences will I face if I lost my home in a foreclosure?
While, we are sorry to hear about your loss, it is crucial we handle the matter in accordance with the IRS regulations. During your tax appointment we will review if the home was sold at a gain. In addition, we will assess the amount credited to you as income via cancellation of a debt. For immediate answers visit the Home Foreclosure and Debt Cancellation section on the IRS website.
How are my taxes impacted if I have filed bankruptcy?
The first step realize is you still may need to pay taxes on the amount discharged. This is largely dependent upon which chapter you file. We will better assess your situation during your appointment. For further tax information on bankruptcy, read the IRS Publication 908 (10/2012), Bankruptcy Tax Guide.
Can my spouse and I file our tax return together if we are legally separated and not divorced?
You can choose to file a joint tax return. Keep in mind any possible tax obligations, future investigations, examinations or audits will need to be handled jointly.
If I forgot to report a second income on my taxes, how can I report it now?
No worries, we will assist you with filing an amended tax return, 1040X. Rest assured you have three years since the date of filing or two years from paying (whichever is later) to correct the issue. Track the status of your amended tax return(s) with the IRS’s ‘Where’s My Amended Return’ tool. Check the IRS’s site about three weeks after you’ve mailed your amended return or call 866-464-2050. If you are uncertain about needing to amend a tax return, don’t hesitate to contact our office at 310-735-3667.
Do I have to pay taxes on money that was gifted to me?
You are not required to pay taxes on a monetary gift up to a certain amount. Our tax professional will review your documents to conclude if you have any tax obligation.
Do I need to report work-study income if I am a full-time student?
Yes, you should receive a W-2 before January 31st. Bring in the W-2, your school expenses, and 1098T or class schedule to claim your refund.
How can I check the status of my refund?
The 'Where’s My Refund' tool on the IRS website allows you to check the status of your tax refund. This tool is updated every 24 hours.
Please Bring any of the following documents if you have them available:
INCOME AND TAX INFORMATION:
Please Bring Proof of any of the following Deductions:
DEDUCTIONS/ADJUSTMENTS:
Please Bring Proof for any of the following Tax Credits:
TAX CREDITS:
Below is a list of documents to bring with you to your tax appointment.
PERSONAL INFORMATION FOR EACH FAMILY MEMBER:
- Name
- Date of Birth
- Social Security Card /ITIN/ATIN
- Last Year’s Tax Return
- Valid Driver’s License
What documents should I receive from my employer?
Please bring your W-2 from your employer. Or if you were an independent contractor for example from Uber, Avon, or Door Dash, bring the 1099 Form. Also bring proof of Medical Insurance.
What documents do I need if I am unemployed?
You will need to bring your 1099- G form. The IRS will also receive a copy. You will be taxed based upon your overall tax bracket for the year. The great part is, if you worked part of the year, you may be eligible for a refund.
What documents do I need if I am self-employed?
You will need to bring any supporting documents to help verify your income. This could be money received from your CashApp, Venmo, PayPal, or anything similar. In addition, we can review your bank statements. This information will be used to file a Schedule C using IRS Form 1040. Depending on your type of business and where you conduct business, there may be other forms you will need. You may also need to make quarterly estimated payments by filing Form 1040-ES, Estimated Tax for Individuals.
What documents do I need if I am divorced?
Start from the beginning. You will need to change your withholding's on the W-4. Fill out form SS-5 with the Social Security Administration to change your name. These steps will help avoid any unnecessary IRS headaches.
What documents do I need if I have a mortgage?
Please bring the 1098 form from your Mortgage Company.
When is the deadline to file my taxes?
The standing deadline for personal taxes is April 15th, March 15th for business taxes, unless otherwise directed by the IRS during national emergencies.
When is the earliest that I can file my taxes?
As soon as you have your W-2 Forms or after 12/31 and you have all of your earnings from the previous year. IRS opens tax portal January 29, 2019. The key is to be among the first in queue.
Is there a penalty for filing my taxes after the deadline?
Yes. It is illegal to neglect filing taxes if you think you owe. First, the IRS does allow you to pay your tax obligation with an installment plan. Second, it's important to put together a plan with your tax professional.
Can I claim charitable donations without a receipt?
Yes. It's crucial you keep great records of your donation history. The current tax changes have increased the amount of allotted standard deductions. Therefore, you can review your charitable donations with one of our tax professionals.
Can I deduct expenses paid for repairing my home?
Yes and No. Yes, if you used your home as a primary space to conduct business. No, if your home repairs were basic home upkeep repairs. This question is best answered by one of our tax professionals.
What tax consequences will I face if I lost my home in a foreclosure?
While, we are sorry to hear about your loss, it is crucial we handle the matter in accordance with the IRS regulations. During your tax appointment we will review if the home was sold at a gain. In addition, we will assess the amount credited to you as income via cancellation of a debt. For immediate answers visit the Home Foreclosure and Debt Cancellation section on the IRS website.
How are my taxes impacted if I have filed bankruptcy?
The first step realize is you still may need to pay taxes on the amount discharged. This is largely dependent upon which chapter you file. We will better assess your situation during your appointment. For further tax information on bankruptcy, read the IRS Publication 908 (10/2012), Bankruptcy Tax Guide.
Can my spouse and I file our tax return together if we are legally separated and not divorced?
You can choose to file a joint tax return. Keep in mind any possible tax obligations, future investigations, examinations or audits will need to be handled jointly.
If I forgot to report a second income on my taxes, how can I report it now?
No worries, we will assist you with filing an amended tax return, 1040X. Rest assured you have three years since the date of filing or two years from paying (whichever is later) to correct the issue. Track the status of your amended tax return(s) with the IRS’s ‘Where’s My Amended Return’ tool. Check the IRS’s site about three weeks after you’ve mailed your amended return or call 866-464-2050. If you are uncertain about needing to amend a tax return, don’t hesitate to contact our office at 310-735-3667.
Do I have to pay taxes on money that was gifted to me?
You are not required to pay taxes on a monetary gift up to a certain amount. Our tax professional will review your documents to conclude if you have any tax obligation.
Do I need to report work-study income if I am a full-time student?
Yes, you should receive a W-2 before January 31st. Bring in the W-2, your school expenses, and 1098T or class schedule to claim your refund.
How can I check the status of my refund?
The 'Where’s My Refund' tool on the IRS website allows you to check the status of your tax refund. This tool is updated every 24 hours.
Please Bring any of the following documents if you have them available:
INCOME AND TAX INFORMATION:
- W-2’s
- Interest (1099-INT or substitute)
- Dividend Slips (1099-DIV or substitute)
- Stock Sales (1099-B or Broker Statement)
- Self-Employment Income and Expenses
- Sale of a Personal Residence
- Rental Income and Expenses
- Sale of any Business Assets
- Gambling or Lottery Winnings (W-2 G for some winnings)
- State Income Tax Refund (1099-G)
- Pension Income (1099-R)
- Estimated Taxes Paid
- Social Security or Railroad Retirement (SSA-1099 or RRB-1099)
- IRA or 401(k) Distribution (1099-R)
- Unemployment Compensation (1099-G)
- Miscellaneous Income (1099-MISC)
Please Bring Proof of any of the following Deductions:
DEDUCTIONS/ADJUSTMENTS:
- Medical Expenses
- Real Estate or Personal Property Taxes
- Mortgage Interest
- Charitable Contributions (cash and non-cash)
- Employee Business Expenses
- Gambling Losses
- Moving Expenses
- Traditional IRA Contributions
- Higher Education Expenses
- Educator Expenses
- Student Loan Interest
Please Bring Proof for any of the following Tax Credits:
TAX CREDITS:
- Child Care Provider/Address and Employer Identification Number (EIN) or Social Security Number (SSN)
- Adoption Expenses
- Retirement Savings Contributions Credit
