Frequently Asked Questions

Look at your income to see if you made the minimum required to file a tax return (Single: $13,850 MFJ: $27,700 HOH: $20,800 MFS: $13,850). Typically, if your income exceeded these thresholds for your filing status then there may be filing requirement.

Our preparers charge according to the type of forms being filed rather than by the hour. Because each tax situation is different, we strongly advise for each client to complete the client intake form for a free estimate to assist with this. 

Please click the link and fill in the forms below: 

Tax Client Intake Form 

Formulario de admisión de clientes fiscales

General Requirements:

• State-Issued picture ID-
• Social Security Cards for everyone yourself and spouse/dependents (if applicable)
• Your Checking Account & Routing Number (for your refund to be direct deposited into)-
• Copy of your previous year tax return (if available)

Not all will apply.

• W-2 for you & spouse
• Unemployment
• 1099 – Interest and Dividend
• Income, Retirement, Annuities
• Social Security or Disability received
• Alimony or Child Support received
• Gambling income and losses
• Cost Basis of Securities Sold
• Rental Property Income

Not all will apply.

• Child Care Expenses
• 1098-T Education Tuition Expense
• Interest Paid on Student Loans
• Alimony Paid (need Social Security number of recipient)
• 1098 – Mortgage Interest Expense
• Medical savings account
• Moving expenses
• IRA contributions
• Rental Property Expense & cost basis
• Adoption expenses
• Medical Expenses (Health Care – Prescriptions, Doctors, Dentists, Eyeglasses, Medical Insurance, Long Term Health Care Insurance)
• Real Estate Taxes and other taxes paid
• List of Charitable Contributions
• Un-Reimbursed Job Expense
• Union/Professional Dues, Job related educational costs, Investment expenses, Job Search expense, Hobby expense, Work uniforms, Safe deposit box

A deduction lowers your taxable income, reducing the portion of your income subject to taxation. In contrast, a credit directly decreases the actual amount of tax you owe. Deductions subtract from your income, whereas credits offer a dollar-for-dollar reduction in your tax liability.
There are two types of credits - refundable and nonrefundable. Refundable credits, if they exceed your tax liability, can result in a refund. Nonrefundable credits, however, can reduce your tax liability to zero but won't generate a refund if they exceed the amount you owe.

To claim your child as your dependent, your child must meet either the qualifying child test or the qualifying relative test:

• To meet the qualifying child test, your child must be younger than you or your spouse if filing jointly and either younger than 19 years old or be a "student" younger than 24 years old as of the end of the calendar year.
• There's no age limit if your child is "permanently and totally disabled" or meets the qualifying relative test.

In addition to meeting the qualifying child or qualifying relative test, you can claim that person as a dependent only if these three tests are met:

1. Dependent taxpayer test
2. Citizen or resident test, and
3. Joint return test

The ability to claim a child on your taxes depends on specific criteria, primarily related to the child's relationship, residence, and financial support. Generally, you can claim a child as a dependent if they meet the qualifying child criteria, including being your child, stepchild, adopted child, sibling, or a descendant of any of these, and living with you for more than half of the year. Legal custody is not always a requirement.

It doesn’t matter if the child is related. If you provided more than half of her support for at least 6 months for the current tax year, and no one else can or will claim the child on their return, then yes, you can claim the child.

It's crucial to thoroughly review the IRS guidelines or consult with a tax professional to ensure eligibility and compliance with tax regulations based on your specific situation.

The IRS has specific rules regarding claiming a child as a dependent in situations of 50/50 custody. Generally, the custodial parent— the one with whom the child lives for the greater part of the year— is eligible to claim the child as a dependent. However, there are exceptions and potential options for the non-custodial parent to claim certain tax benefits, like the Child Tax Credit or the exemption for a dependent.

The IRS rules are in place to make tax filing for parents with 50/50 custody as fair as possible. But parents who share equal custody can decide among themselves who should get to claim their child as a dependent. For example, a common arrangement among parents with shared custody is to alternate years.It's essential for parents to communicate and, if necessary, consult with a tax professional to determine the most beneficial arrangement based on their specific circumstances and any applicable legal agreements.

The decision to file as Married Filing Jointly (MFJ) or Married Filing Separately (MFS) depends on various factors, including your overall financial situation. When it comes to student loans, filing jointly might provide access to certain deductions and credits that could be beneficial. However, If you owe student loans and are subject to an income-based plan, you may be able to lower your monthly repayment amount by filing as MFS rather than MFJ since, for most plans, household income is calculated using the borrower’s tax return.

However, it is advisable to consult with a tax professional to assess your specific circumstances and determine the most advantageous filing status for you and your spouse.

Starting a small business can potentially offer tax benefits, as it opens up opportunities for various deductions and credits. Business expenses, such as operating costs, equipment, and office space, may be deductible. Additionally, you could benefit from business-related tax credits. However, the impact on your overall tax liability depends on several factors, including the type of business structure and your specific situation. Consulting with a tax professional is advisable to understand the potential tax advantages and complexities associated with starting a small business.

You may deduct gambling losses only if you itemize your deductions on Schedule A (Form 1040) and kept a record of your winnings and losses. The amount of losses you deduct can’t be more than the amount of gambling income you reported on your return. Claim your gambling losses up to the amount of winnings, as “Other Itemized Deductions.”

You’re required to pay taxes on crypto. The IRS classifies cryptocurrency as property, and cryptocurrency transactions are taxable by law just like transactions related to any other property. Taxes are due when you sell, trade, or dispose of cryptocurrency in any way and recognize a gain.

EIC Validation Form 

Self Employment Validation Form

If you make a mistake on your tax return, we can help you to correct it and file an amended return if necessary. It's important to address any mistakes as soon as possible to avoid penalties or further issues.

Yes, we offer IRS audit assistance to help you navigate the audit process and ensure that your rights are protected. Our team will work with you every step of the way to help you achieve the best possible outcome.

We can file your 1040-X Amended US Individual Tax Return Electronically with our professional software to amend tax year 2020 and later Forms 1040 and 1040-SR, and tax year 2021 and later Forms 1040-NR. If amending a prior year return originally filed on paper, then the amended return must also be filed on paper. 

We offer a two  options to receive your income tax return. Direct Deposit and Paper check. 

The IRS states that nine out of 10 e-filed tax returns with direct deposit will be processed within 21 days of IRS e-file acceptance. Mailed paper returns: If you filed a paper return, please allow 4 weeks before checking the status. Refund processing time is 6 to 8 weeks from the date the IRS receives your tax return.

Here is the link to check your refund status:

https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

You can get a wage and income transcript, containing the Federal tax information your employer reported to the Social Security Administration (SSA), by visiting our Get Your Tax Record page. Refer to Transcript Types and Ways to Order Them and About Tax Transcripts for more information.

Contact an IRS customer service representative to correct any agency errors by calling 800-829-1040 (see telephone assistance for hours of operation). Unfortunately, this may result in you receiving a paper check.

If you lost your refund check, you should initiate a refund trace:

• Use Where's My Refund, call the IRS at 800-829-1954 and use the automated system, or speak with an agent by calling 800-829-1040 (see telephone assistance for hours of operation).
• However, if you filed a married filing jointly return, you can’t initiate a trace using the automated systems. Download and complete the Form 3911, Taxpayer Statement Regarding RefundPDF or the IRS can send you a Form 3911 to get the replacement process started.

Your claim for a missing refund is processed one of two ways:

• If the check wasn't cashed, you'll receive a replacement check once the original check is canceled.
• If the refund check was cashed, the Bureau of the Fiscal Service (BFS) will provide you with a claim package that includes a copy of the cashed check. Follow the instructions for completing the claim package. BFS will review your claim and the signature on the canceled check before determining whether they can issue you a replacement check. The BFS review can take up to six weeks to complete.