For everyone in the Kissimmee area, here is a simple checklist to help you in your tax preparation Kissimmee more accurately without missing out anything. With this simple guide, you can prepare all your tax preparation Kissimmee documents beforehand and file your tax return on time with greater accuracy.
This comprehensive checklist includes vast range of areas. However, you can select those that apply to your tax preparation Kissimmee case.
The taxpayer needs to provide personal tax preparation Kissimmee details to inform who is paying the tax along with the number of dependents.
- Name, address, date of birth, social security number of yourself
- Name, date of birth, social security number of your spouse
- Name, date of birth, social security number of dependents
Information about Income
This is the most important part of tax preparation Kissimmee. The whole tax preparation Kissimmee process rests upon this significant information. Be very careful when reporting your income as it sets the base for your tax payment.
- Income or wages from work
- Income from investment
- Income obtained from business or farming
- Money received as alimony
- Income from local and state income tax refunds and/or unemployment
- Rental property income
- Income from sale of property
- Installment sale information from previous year
- IRA or pension
- Social Security Benefits
- Other miscellaneous income (gambling winnings, jury duty, scholarships, Medical saving account, etc.)
Adjustment to Income
Adjustment to income helps to reduce the amount of your tax preparation Kissimmee taxable income. Alternatively, it can benefit you by increasing your tax preparation Kissimmee or lowering the amount you owe by allowing exemption on few previously taxed areas.
- IRA contributions
- Student loan interest
- Medical Savings Account contributions
- Health insurance payment of self employed individuals
- SIMPLE, SEP, and other self employed pension plans
- Payment of alimony
- Energy credits
- Moving expenses
- Educator expenses
Tax Deductible Expenses and Credits
The government has formulated this approach to reduce tax burden from the taxpayers. The deductible expenses and credits help taxpayers enjoy more money by reducing their tax obligations.
- Child tax credit
- Child care costs
- Adoption costs
- Education expenses
- Job hunting expenses
- Home mortgage interest
- Moving expenses
- Interest expense on investment
- Medical and dental expenses
- Donations to charitable organizations (includes both cash and non cash contributions)
- Loss in casualty and theft
- Union dues
- Unreimbursed employee expenses
Other Taxes Paid
This category allows taxpayers to avoid taxes that they have already paid to local or state government in any form.
- Local and state income taxes
- Personal property taxes
- Real estate taxes
Other Information to be Provided
This section ensures that all monetary activities that are being undertaken in the country are recorded properly.
- Direct deposit information
- Foreign bank account information
- Prior year refund applied to current year
If you need more information about our Kissimmee, FL accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, Hunters Creek, Lake Nona, Celebration, Winter Park, Windermere, Dr. Phillips, Maitland, Altamonte Springs, Winter Garden, Ocoee, Apopka, Belle Isle, Edgewood, and Oakland FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin number, incorporations, and non profit 501c3 tax exempt.