December 23, 2022There's a lot to gain from starting your tax planning before December 31, the end of the current tax year. This remains true even if you still don't know when the next tax season is scheduled to start. Our certified tax preparers want to take this opportunity to tell you all about the benefits of planning your 2023 taxes, and how an early start can grant you tax credits and refunds.
Where To Start?Tax planning begins with rounding up all relevant documents and records. This includes fees, bills, payment receipts, and other documents that were issued during the year. You should also start singling out the tax forms that match your type of tax identification. If you're a dependent worker (employee), you need to request Form W-2 which records all the income you've obtained over the year and the withheld amount. If you worked for different companies during the same taxable year, you need to ask for the form in each place of employment. If you work independently, you need to request Form 1099 from the businesses or individuals that have hired your services in the past. This form lists the income corresponding to your professional fees.
Filing Your Taxes on Time Leads to a Prompt RefundWe've stressed many times that a timely process in the presentation of your waxes will result in a convenient refund. Whether your file your tax return electronically or in person, it will take a week for the IRS to review your information and an additional twenty-one (21) day-period for the refunds to reach you.
Are You an Undocumented Immigrant with Over 30 Days in the U.S.? It's Time to File Your TaxesMany undocumented immigrants are unaware of this fact, but tax laws state that every person has the obligation to file taxes after they spend more than 30 days inside the country. It doesn't matter if the filing doesn't result in payment, and residency status doesn't exempt people from adhering to this law. Those who become familiar with tax-related laws tend to put off their tax-filing responsibilities out of fear of deportation. However, there's a tax information privacy law that protects all taxpayers regardless of their migration status.
Our Certified Tax Preparers Help You Plan Your 2023 Tax ReturnThere's no better way to prepare for the upcoming tax season than by enlisting our preparer's professional assistance. Our specialists have all the credentials to help you with the planning, preparation, and filing of your 2023 taxes, and we offer the latest technology to monitor your tax credits. Our top-tier organization system and our team's professional history ensure the best assistance on everything pertaining to accounting and tax preparation.
Hire a team who has tried hundreds of cases & successfully obtained favorable results for thousands of clients.