We are here to help you to rid of the stress you experience with your tax return
From monthly tax planning to annual returns, every service is designed to make you feel confident and organized while keeping you compliant! Now you can breathe with relief. We'll get your taxes sorted out for you.
No more stress over a tax return
Our service of annual tax preparation include:
Two ways you can proceed with your tax return with us:
You can come to our office and I and my team will work with you and your documents
All you need to do is to make an appointment at a suitable date and bring your documents with you.
You can send all your documents in Cotapay on our website to us and we will proceed with your tax return. You don't need to waste your time and come to the office.
What will be next after you apply on-line:
Once you fill out the form, our team will get back to you with any follow-up questions and a quote for your returns.
Once we determine if you’re a good fit, we will get you set up in our client portal, Canopy, and send an engagement letter for you to sign.
As we approach tax season, we will request the documents we need, send you a comprehensive questionnaire, and ask any follow-up questions we may have at that time.
After your return is prepared, we will send it to you to review. We also send you your invoice. Once your invoice is paid and the return is approved, we will file them for you and you canrelax with a celebratory beverage.
Tax Preparation Guide
When you file your tax return work with a professional, and a tax prep checklist can keep you organized and help reduce stress when it’s time to do your taxes.
Here’s a roundup of the tax documents and information you’ll need.
Before you start working on your return, review the tax prep checklist below. And remember, if you’re married and filing a joint return with your spouse, you’ll need all of the following information for them as well.
Your personal information tells the IRS and state taxing authority who’s filing a return, where to contact you and deposit your tax refund.
- Your name is exactly as it appears on your Social Security card
- Date of birth
- Social Security number
- Home address
- Copy of last year’s federal and state tax returns
- Bank account number and routing number to receive your refund by direct deposit
If you can claim someone else as a dependent, you’ll need the following information.
- Dependents’ name (as it appears on their Social Security card), dates of birth, and Social Security numbers (or tax ID numbers)
- Form 8332 if your dependent child’s custodial parent is releasing their right to claim the child as a dependent
Sources of Income
You might receive several different forms documenting the income you received in 2022. Some common ones include:
- W-2s from your employer(s)
- 1099-G forms for unemployment income and state or local tax refunds
- 1099-INT, 1099-DIV, and 1099-B for interest, dividends, and stock sales
- 1099-R and SSA-1099 for retirement plan distributions and Social Security benefits
- 1099-S for income from the sale of your residence or other property
- 1099-MISC for income from a rental property
- 1099-Q for distributions from a 529 plan or Coverdell ESA
- 1099-SA for distributions from a health saving account (HSA)
- Schedule K-1 for income from a pass-through business, trust, or estate
- Alimony received
- Records of any transactions involving cryptocurrency
- Information on other sources of income, such as gambling winnings, jury duty pay, cancellation of debt, etc.
Self-Employment and Business Records
If you’re self-employed, you need to report that income. You can also claim business expenses to lower your taxable income.
- 1099-NEC or 1099-K showing income earned as an independent contractor
- Records of all business income and expenses
- Documentation for home office expenses, including square footage of home and square footage of area used exclusively for business
- Records for business assets to be depreciated, including cost and date placed in service
- Miles traveled for business purposes
Deductions can reduce your taxable income, lowering the amount of tax you owe or increasing your refund. Generally, you can claim the standard deduction, which is a flat amount based on your filing status, or itemize deductions. If you itemize deductions, you need information on:
- Out-of-pocket medical expenses
- Premiums paid for long-term care insurance
- Form 1098 showing any mortgage interest, mortgage insurance premiums, and points you paid during the tax year
- Real estate taxes
- State and local income taxes or sales taxes
- Taxes that paid with your vehicle registration
- Documentation of casualty losses (if you lived or owned property in a federally declared disaster area)
If you have any of the following deductions, known as adjustments to income, you can claim them even if you don’t itemize.
- Form 1098-E for student loan interest
- Records of contributions to an HSA, IRA, SEP, or self-employed retirement plan
- Alimony paid
- For teachers, expenses paid for classroom supplies
- Premiums paid for self-employed health insurance
Preparation for your tax return can't be easier when you fill it with an inspired and experienced team. My colleagues and I will make sure you have no stress anymore during tax season.