Tax Advisory

For clients interested in detailed tax planning, this offering provides actionable advice formulated for you or your business. Because this service is tailored to your specific needs, we will begin by making sure we have a thorough understanding of your situation. This will include reviewing not only your current tax posture, but also changes that you are concerned about. We will then develop specific recommendations for you to reduce taxable income and assist in resolving tax problems or issues you may be having.

Service Includes

·         Tax preparation of federal, state, or local tax returns (W-2, Self-Employment, & 1099 income)

·         Analyzing financial and tax situations for areas of improvement

·         Formulating solutions and making strategy recommendations

·         Reporting of interest and dividend income

·         Calculating dedications & credits

·         Calculating estimated payments

·         Annual Electronic filing

·         Secure Portal and file storage

What We’ll Need from You

All personal tax documents

·         Photo ID

·         Social Security Cards, Social Security Number verification letters, or

·         Individual Taxpayer Identification Number assignment letters for you, your spouse, and any dependents

·         Birth dates for you, your spouse, and dependents on the tax return

·         Last two years of tax returns

Income documents needed

·         Employment Income

·         W-2 form(s) for all jobs last year (your employer(s) will have sent you this by January 31st)

·         Self-Employment Income, 1099-NEC and/or 1099-K

·         Records of income not reported on 1099 forms

·         Records of expenses including receipts, credit statements, etc.

·         Record of estimated tax payments

·         Retirement Income

·         SSA-1099 form for Social Security benefits

·         1099-R for pension/IRA/annuity income

·         Unemployment Income

·         1099-G for unemployment benefits

Other sources of income to consider

·         1099-G for refund of state/local income taxes

·         1098-T for scholarships/fellowships

·         1099-R for disability income

·         Income or loss from the sale of stocks, bonds, or real estate

·         Income or loss from rental property

·         Alimony received

·         Statements for prizes or lottery/gambling winnings

·         Interest and dividend statements from banks

·         Records for any other income

Expenses to consider for filing

You may be able to claim tax deductions for some of the expenses you have. These deductions reduce the income you are taxed on. Bring documentation for all of the following expenses you have.

·         Retirement contributions, including a 401(k) or IRA

·         State and local taxes you’ve paid

·         Mortgage statements and property tax bills if you are a homeowner

·         College tuition (1098-T) and student loan statements (Form 1098-E)

·         Childcare expenses, including payment records or receipts and provider’s name, address, and federal tax ID number (either their Social Security Number or Employment Identification Number)

·         Receipts for charitable donations

·         Medical and dental bills

·         Records for supplies used as an educator

                Other Tax Documents or Notices

·         IRS Notice 1444, 1444-B, and/or 1444-C for your Economic Impact Payments (also known as stimulus checks)

·         IRS Letter 6419 for your Child Tax Credit advance payments

·         IRS Letter 6475 for your 3rd Economic Impact Payment (stimulus check)

·         Form 1095-A if you had coverage through the Health Insurance Marketplace

·         Documents from the IRS, Health Insurance Marketplace, your state tax agency, or anything that says “IMPORTANT TAX DOCUMENT”