FAQ

• Please complete the Client Information Sheet in addition to the items listed below.
• Proof of identification (Driver’s License or Government issued Photo I.D.)
• Social Security Cards for you, your spouse and dependents.
• Birth dates for you, your spouse and any dependents on the tax return.
• Wage and earning statement(s) Form W-2, W-2G, 1099-MISC and 1099-R, from all employers and payers. Interest and dividend statements – Forms 1099-INT and 1099-DIV. Social Security, State Income Tax refund and Unemployment Compensation statements – Forms SSA-1099 and 1099-G.
• Records of rental income and expenses, IRA contributions, and alimony paid or received.
• Mortgage Interest Statement – Form 1098; and records of the purchase or sale of your residence.
• Records of medical, eye care and dental expenses.
• Receipts for cash and non-cash charitable contributions.
• A copy of last year’s Federal and State returns, if available.

Based upon the income earned, you’re not required to file a return. However, a return should be completed if federal taxes were withheld to determine if you’re eligible to receive a refund.

No. Single taxpayers can earn up to $14,340 and still qualify for the EITC. Married taxpayers filing jointly can earn up to $19,680 (combined) and qualify for the EITC.

Earned income includes the following:

• Wages, salaries, and tips
• Commissions
• Jury Duty pay
• Union strike benefits
• Long-term disability pensions received prior to minimum retirement age
• Net earnings from self employment

Earned income does not include the following:

• Interest and dividends
• Social security and railroad retirement benefits
• Welfare benefits
• Pensions or annuities
• Veteran’s benefits (including VA rehabilitation payments)
• Worker’s compensation benefits
• Alimony
• Child support
• Unemployment compensation
• Taxable scholarship or fellowship grants that were not reported on Form W-2
• Variable housing allowance for the military
• Earnings for work performed while an inmate at a penal institution

If you had your tax return completed by a paid preparer, they should be able to provide you a copy of the return. The IRS can provide a Tax Return Transcript for many returns free of charge. The transcript provides most of the line entries from the original tax return and usually contains the information that a third party (such as a mortgage company) requires. If your paid preparer is unable to provide a copy of the return, complete Form 4506 (Request for Copy of Tax Return) and mail to the IRS with applicable fees.

The taxable amount of your benefits depends on the total amount of your benefits and other income. Generally, the higher the total amount, the greater the taxable part of your benefits. Generally, up to 50% of your benefits will be taxable. However, up to 85% of your benefits can be taxable if either of the following situations applies to you.

*The total of one-half of your benefits and all your other income is more than $34,000 ($44,000 if you are married filing jointly).

*You are married filing separately and lived with your spouse at any time during the year.

Your parents claimed you as a dependent on their tax return (claiming your exemption). You can still file a return, but you will not be able to claim your exemption since your parents did this on their return. However, a return should be completed if federal taxes were withheld to determine if you’re eligible to receive a refund.

Our consultations are always free.