What information do I need to get my taxes filed?
Linked is a list of information required for individuals and businesses. These are not complete requirement lists, please be in contact with your accountant as each client’s needs are unique and may require more or less information.
When should I turn in my tax documents?
As soon as you think you have all your financial documentation added up, please send it in. This will ensure we have proper time to process the information, seek clarification from the client if necessary, and report to the IRS.
What is the best way to send in information?
Please securely send documentation through our online ShareFile system. If you are not able to scan in and share through our portal, you may bring us a physical copy in office or mail documents.
What deductions can I claim on my tax return?
Deductions vary based on your individual circumstances but common ones include: mortgage interest, charitable contributions, and medical expenses.
How do I pay estimated taxes?
You can pay estimated taxes online through the IRS website, by mail, or electronically using the Electronic Federal Tax Payment System (EFTPS).
Do I qualify for the Child Tax Credit?
The Child Tax Credit is available for qualifying dependent children under the age of 17. The credit amount and eligibility criteria can vary based on income and other factors.
What is the difference between a tax credit and a tax deduction?
A tax deduction reduces your taxable income, while a tax credit directly reduces the amount of tax you owe.
How do I report cryptocurrency transactions on my tax return?
Cryptocurrency transactions are reported to the IRS, and you may need to file Form 8949 and Schedule D to report capital gains or losses from cryptocurrency transactions.