Tax Preparation Tips – Fresh Start Tax LLC

1. Gather your records.

Collect all tax records you need to file your taxes. This includes receipts, canceled checks and records that support income, deductions or tax credits that you claim on your tax return. Review all your credit card receipts just in case you forgot something.

2. Report all your income.

You will need to report your income from all of your Forms W-2, Wage and Tax Statements, and Form 1099 income statements when you file your tax return.

Remember, IRS gets all 1099 and W-2 information from 3 parties.

3. Get answers.

Use the Interactive Tax Assistant tool on the IRS website to get answers to many of your questions about tax credits, deductions and many more topics.

4. Use direct deposit.

Combining e-file with direct deposit is the fastest and safest way to get your tax refund.

5. Visit the IRS website 24/7.Great source of info.

IRS.gov is a great place to get everything you need to file your tax return. Visit ‘1040 Central’ for online tools, filing tips, answers to frequently asked questions and IRS forms and publications. Get them all anytime, day or night.

6. Check out number 17.

IRS Publication 17, Your Federal Income Tax, is a complete tax resource. It contains helpful information such as whether you need to file a tax return and how to choose your filing status.

7. Review your tax return.

Mistakes slow down the receipt of your tax refund. Be sure to check all Social Security numbers and math calculations on your return, as these are the most common errors.

8.Store them in a safe place.

We recommend you keep all your tax records photocopied along with receipts and bank statements and any deductions you’ve had in store them in a safe cloud environment.

In case of any act of God you always have your tax records stored in the clouds.

Tax Preparation Tips – Fresh Start Tax LLC, Former IRS Agents