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Tax time can be challenging. If you need help with tax returns you’ll want to read this! There are many excellent resources to get you through tax time and to get you help with tax returns – here are just a few...
You’ll Need These Tax Documents to Help With Tax Returns
One of the things most people need help with tax returns on is the forms they should use. Income documents including W-2s, 1099s, record of income from self employment, income from partnerships, record of income from rental employment.
You also will need proof of alimony you received, proof of jury duty pay, dividend and interest statements, social security statement, and brokerage statements.
You’ll Need These Tax Deduction Documents to help with Tax Returns
Another area where help with tax returns is needed is in deductions. Collect any health care expense, your real estate taxes, charity, mortgage interest paid, motor vehicle registration, gambling losses, as well as job related expenses.
Help With Tax Returns on Personal Exemptions
Every individual is allowed a person exemption for themselves, as well as any dependents you support. It works like a tax deduction to reduce your overall taxable income, so that you owe less income tax. Each year the personal exemption usually climbs by a small amount. If you are filing a joint return with a spouse you can claim two personal exemptions.
Help With Tax Returns and the Right Tax Forms
There are different tax forms to choose from so many individuals require help with tax returns. The rule of thumb is to use the simplest one that will meet your needs.
Form 1040EZ is the shortest form and the easiest to fill out. If you total income is less that $100,000 and your interest income is less than $1500 you can use this form. You may only have income through wages, you must be under 65, and you must be either single or filing a joint return.
Form 1040A is a short form used by most. Total income must be less than $100,000. You can have earnings from any source, claim tax credits, but if you need to itemize your deductions you can’t use this form.
Form 1040 is the form that catches everything that the other forms do not. In a nutshell if you don’t fit the other forms this is the one to use.
We’re almost there – this help with tax returns but there’s just one other area to cover.
Help with Tax Returns - Do it Yourself or an Accountant
If your taxes are straightforward there is likely no need for an accountant unless you are uncomfortable doing your own taxes. However, not everyone’s taxes are straight forward and so you could need an accountant.
We’ve provided you some help with tax returns to help relieve stress and get those taxes done.
You’ll Need These Tax Documents to Help With Tax Returns
One of the things most people need help with tax returns on is the forms they should use. Income documents including W-2s, 1099s, record of income from self employment, income from partnerships, record of income from rental employment.
You also will need proof of alimony you received, proof of jury duty pay, dividend and interest statements, social security statement, and brokerage statements.
You’ll Need These Tax Deduction Documents to help with Tax Returns
Another area where help with tax returns is needed is in deductions. Collect any health care expense, your real estate taxes, charity, mortgage interest paid, motor vehicle registration, gambling losses, as well as job related expenses.
Help With Tax Returns on Personal Exemptions
Every individual is allowed a person exemption for themselves, as well as any dependents you support. It works like a tax deduction to reduce your overall taxable income, so that you owe less income tax. Each year the personal exemption usually climbs by a small amount. If you are filing a joint return with a spouse you can claim two personal exemptions.
Help With Tax Returns and the Right Tax Forms
There are different tax forms to choose from so many individuals require help with tax returns. The rule of thumb is to use the simplest one that will meet your needs.
Form 1040EZ is the shortest form and the easiest to fill out. If you total income is less that $100,000 and your interest income is less than $1500 you can use this form. You may only have income through wages, you must be under 65, and you must be either single or filing a joint return.
Form 1040A is a short form used by most. Total income must be less than $100,000. You can have earnings from any source, claim tax credits, but if you need to itemize your deductions you can’t use this form.
Form 1040 is the form that catches everything that the other forms do not. In a nutshell if you don’t fit the other forms this is the one to use.
We’re almost there – this help with tax returns but there’s just one other area to cover.
Help with Tax Returns - Do it Yourself or an Accountant
If your taxes are straightforward there is likely no need for an accountant unless you are uncomfortable doing your own taxes. However, not everyone’s taxes are straight forward and so you could need an accountant.
We’ve provided you some help with tax returns to help relieve stress and get those taxes done.
