Following is a list of some more common items you should bring if you have them. • Wage statements (Form W-2) • Pension, or retirement income (Forms 1099-R) • Self-Employment Income (may show on forms 1099-K, 1099-MISC, or 1099-NEC) • Income and expenses from rentals • Investment Income (forms 1099-INT, 1099-DIV, 1099-B) • State Unemployment or Refund (1099-G) • Educational expenses (1098-T) • Healthcare Marketplace (1095-A) • Last year's tax return information • Dependents' Social Security card and Birth Certificate • Child care expenses and provider information • Lottery and/or gambling winnings and losses • Record of purchase or sale of real estate • Cancelation of Debt 1099-C • Any other items that you think may be necessary for your taxes.

When you get married you will have the option of filing a joint tax return. In this case the one return will report the income and deductions of both spouses. The IRS has eliminated most cases where you would have saved taxes by remaining single. You also have the option to file as married filing separately, but in most cases this will increase your taxes.

No, you can file either as married filing joint or married filing separate. If you file separately your taxes will most likely be higher. Many credits—such as earned income, education (Hope and lifetime learning), and child care—are not allowed when you file separately. There are special circumstances where people who are married but either do not want to or cannot file with their spouse can file as Head of Household, which therefore entitles them to these credits and a lower tax bracket.

The child tax credit is a credit of $2200 per qualifying child under 17 from the IRS. In order to qualify the child must: • Be under 17 at the end of the tax year. • Be a citizen of the United States. • Be your child. • Live with you for more than half the year and not be treated as the qualifying child of someone else. A $500 credit is available for all other qualifying dependents. For more information on tax credits, see the IRS Website: Individual Tax Credits (https://www.irs.gov/newsroom/tax-credits-for-individuals-what-they-are-and-how-they-can-benefit-taxpayers)

Earned Income Tax Credit (EITC) You can check if you qualify for the EITC using this tool from the IRS: EITC Assistant (https://apps.irs.gov/app/eitc) For the 2025 Tax Year, the maximum EITC amount available is $649 with no children. With children, the credits are as follows: • $4,328 with one child • $7,152 with two children • $7,340 with three or more children The credit phases out with a gross income of $19,104 for single payers with no children and ends at $64,430 for married filing joint taxpayers with 3 or more children. For more information and additional credits, see the IRS Website: Tax Credits for Individuals (https://www.irs.gov/newsroom/tax-credits-for-individuals-what-they-are-and-how-they-can-benefit-taxpayers)

Usually if your income including social security benefits is less than $25,000 (single) or $32,000 (married), your benefits are not taxable. If your income is higher than those limits, there are formulas to determine what percentage of your social security is taxable. Currently up to 85% of your social security may be taxable.

The IRS recommends you should keep your records and tax returns for at least 3 years from the date the return was filed or the date the return was required to be filed, whichever is later. We recommend that you retain your records longer if there are items being depreciated or to keep a record of the cost basis of investments.

Don’t panic! Bring the notice into our office or send it electronically (front and back). Please provide the letter within 30 days of receipt.

If you withdraw money from a 401(k) or an IRA before age 59 ½, the distribution is taxable and there is a 10% penalty on the taxable amount unless you meet an exception listed by the IRS. For the most up-to-date information, please see the IRS website. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributions (https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributions)

If we filed your return, bring the new tax documents to our office. We will determine if it is necessary for you to file an amended return.

An amended return is simply a return filed with the IRS and/or state because of an error or an omission on your original return. You should file an amended return if there is a material difference between the original return and your new changes. As of now, an amended return older than 2023 cannot be electronically filed, and any expected refunds will take longer to receive than the original return (7-9 months, according to the IRS). Generally to claim a refund, your amended return must be filed within 3 years from the date of your original return or within 2 years from the date you paid the tax, whichever is later.

If you cannot afford to pay when taxes are due, you have several options. Ignoring the IRS should not be one of them! The first option is to enter into an installment agreement with the IRS. To do this you need to fill out Form 9465, Installment Agreement Request. This form is fairly easy to complete, and can be filed with your tax return or after the fact. The IRS has also issued a consumer alert, advising taxpayers to beware of promoters’ claims that tax debts can be settled for “pennies on the dollar” through the Offer in Compromise Program.

Standard deduction rates for 2025: • $31,500 for married taxpayers filing jointly • $23,625 for head of household • $15,750 for single taxpayers and married taxpayers filing separate The additional standard deduction amount for the aged (65 or older) or the blind is $1,600. That amount is increased to $2,000 if the taxpayer is single or head of household, and not a surviving spouse.

Taxpayers can itemize their deductions, if the below expenses are higher than the standard deduction for their filing status. Medical and Dental Expenses Taxpayers can deduct only the part of their medical and dental expenses that exceeds 7.5% of your adjusted gross income. Home Mortgage Interest (1098 form) For Acquisition Indebtedness incurred after 12/15/2017, the home mortgage interest deduction is limited to the first $750,000 of home loans combined. For mortgages on or before 12/15/2017, interest is limited to the first $1,000,000 of home loans combined. For tax years following 2018, interest on home equity indebtedness is only deductible if used to buy, build or improve the mortgage home. Casualty and Theft Losses As of 2018, the only casualty and theft losses allowed are those incurred due to a federally declared disaster. Miscellaneous Deductions The 2% miscellaneous deductions are no longer allowed. These include unreimbursed employee expenses (travel, job education, union dues, etc.). tax preparation fees, and other expenses (investment, safe deposit box, etc.) Charitable Deductions The limit for charitable deductions is 60% of the taxpayers AGI. State and Local Taxes The combined amount is limited to $40,000.

If you make a cash donation, you must have a bank record or written communication from the charity showing the name of the charity and the amount of the donation. A bank record can be the cancelled check or a statement from a bank or credit union—so long as it lists the charity’s name, the date, and the amount of the contribution. For non-monetary contributions worth $500 or more, you must file Form 8283 (Noncash Charitable Contributions) and attach it to your Form 1040. All contributions must be made to qualified charitable organizations. For valuation of used items, see the IRS Website. https://www.irs.gov/charities-non-profits/contributors/non-cash-donations (If you make a cash donation, you must have a bank record or written communication from the charity showing the name of the charity and the amount of the donation. A bank record can be the cancelled check or a statement from a bank or credit union—so long as it lists the charity’s name, the date, and the amount of the contribution. For non-monetary contributions worth $500 or more, you must file Form 8283 (Noncash Charitable Contributions) and attach it to your Form 1040. All contributions must be made to qualified charitable organizations. For valuation of used items, see the IRS Website. https://www.irs.gov/charities-non-profits/contributors/non-cash-donations)

If you use a portion of your home for business purposes, you may be able to take a home office deduction whether you are self-employed or a statutory employee. Expenses you may be able to deduct for business use of your home may include: • The business portion of real estate taxes • Mortgage interest • Rent • Utilities • Insurance • Depreciation • Painting • Repairs You can claim this deduction only if you use a part of your home regularly and exclusively: 1. As your principal place of business for any trade or business. 2. As a place to meet or deal with your patients, clients or customers in the normal course of your trade or business. Generally, the amount you can deduct depends on the percentage of your home that you used for business. Your deduction will be limited if your gross income from your business is less than your total business expenses.

Keep a log in your vehicle and record the purpose and mileage of each trip. We have logs available for free in our office. You also need to record the odometer readings at the beginning and end of each year, as the IRS will ask you for total miles driven during the year. Keep your repair bills as these normally record odometer readings when the car is serviced.

Effective beginning in tax year 2018, The Tax Cuts and Jobs Act (HR 1, “TCJA”), enacted by Congress in December 2017, eliminates the individual health insurance mandate under the Affordable Care Act (popularly called Obamacare). However, if you had coverage through the Healthcare Marketplace, you will be issued a 1095-A by the Healthcare Marketplace that must be presented to your preparer and reconciled on your tax return.