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| What do I bring with me when I come in? |
| Obviously we need all your income and expenses, so bring all W-2 and 1099 Forms (see “Gross Income” section regarding different types of 1099’s), as well as checks, credit card statements, and receipts to support your expenses.
If you have many receipts (e.g. performing artists) PLEASE bring them in at least one week before your appointment so they may be processed. Also bring your mortgage statement (Form 1098) if you own a home, stock purchase details corresponding to all stocks sold (including mutual funds), and anything else you may consider pertinent. If you are self-employed, bring bank statements as the IRS has the right to examine them for unreported income. If you employ freelance individuals, bring the totals paid to them as well as their addresses and Social Security numbers so that we may issue 1099’s to them (due February 28th but should be mailed by January 31st). If you are a new client, bring last year’s returns as there may be items that affect the current year. Also be sure to have the birthday and Social Security number of anyone on your tax return (spouse, children, other dependents). U.S. non-residents, be sure to bring your passport with current visa, and a schedule of the dates you were out of the country. If you have any unusual circumstances please call or e-mail us for guidance.
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| When are my estimated income tax payments due? |
A: 4/15, 6/15, 9/15 and 1/15, unless the date falls on a weekend or holiday, then it’s the following day. Tax tip- By paying your state tax estimate before December 31, you get a deduction on your Federal return in the year you make it.
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| When are my payroll deposits due? |
A: For small employers who have total federal payroll tax deposits of less than $50,000 annually, they are due by the 15th of the month following the month end in which wages are paid (i.e. for the month of October, the taxes are due November 15th). Federal deposits are made at the bank along with Form 8109. The State payments are due at the same time; payments and deposit coupons are mailed to the State. If the Federal deposit is less than $500 for the quarter, you may remit payment with your Quarterly report (Form 941).
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| What are the current Federal Tax rates for married filing jointly and single? |
A: With new tax law changes, “taxable income” is more difficult to determine. If you have questions, please consult your tax advisor. Don’t forget applicable State and Self-employment taxes
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