The Process of Tax Preparation
Choose a Tax Preparer
If you don’t have a tax preparer, a good way you can go is
with Tax Preparation Service in Houston Be sure the person you choose has a
preparer tax identification number (PTIN) presenting they are authorized to
prepare Income Tax Returns.
Schedule an
Appointment
The earlier you meet with your preparer, the sooner you
should be able to complete your return-even if you decide to file for an
extension. If you anticipate a refund, you'll get that earlier, too. If you
wait too long to arrange an appointment with a tax preparer, it might not
happen before the filing deadline.
Gather Your Documents
You should receive all the tax-related documents you need
from your employer or employers as well as from banks, brokerage firms, and
others with whom you do business by the end of January. Check that all
information matches your records on each form.
Round Up Your
Receipts
The receipts you'll need to provide depend on whether you
count your deductions or claim the standard deduction. You'll want to choose
whichever produces the bigger write-off, but the only way to know for sure is
to add up your counted deductions and compare the result with your standard
deduction.
List Your Personal
Information
You probably know your Social Security number (SSN), but do
you know the Social Security number of each dependent you claim? You'll want to
indicate those down (in a safe place, of course), along with any other
information your tax preparer is likely to need.
Decide Whether to
File for an Extension
If you need more time to complete all tasks, you can request
an extension to October 15th for filing your tax return. However, you'll still
have to estimate the amount of tax you owe and pay that amount by the regular
April 15 deadline to avoid penalties and interest.
Plan Ahead for Any
Refund
If you expect a tax refund, you have certain options for how
it's handled.
• You can
apply some or all of the refund to next year's taxes. If generally, you pay
estimated taxes throughout the year that can help you cover the first quarterly
installment.
• The
government can send you a check by mail or deposit the refund directly into
your savings account.
• You can
give some or all of your refund to specific types of accounts (IRAs, health
savings accounts, education savings accounts) or buy U.S. savings bonds through
Treasury Direct.
Find a Copy of Last
Year’s Return
If you use the same tax preparer you used last year, they
will likely have your previous information. If you use a new tax preparer, last
year’s return can serve as a reminder to the preparer and you of some items you
don’t want to overlook.
What Is the Deadline
for Filing a Tax Return?
Tax Returns are commonly due on April 15 following the tax
year. But, most taxpayers have until April 18, 2022, to file their 2021 tax
return because April 15 is a holiday (Emancipation Day) in Washington, D.C. Tax
Preparation services in the USA have until April 19, 2022, to file their
returns due to the Patriots' Day holiday in those states.
If you are searching for Best Tax Preparation Services in Houston so you can go with Zanda Tax. Because they provide accurate and
effective tax preparation services at an affordable price.
Comments
Post a Comment