Tax season for the year 2014 has already started and the IRS is now accepting returns. Yes, there is plenty of time left because the deadline is not until the 15th of April, and in some cases, you can even get it extended up to the 15th of October. So are you prepared for your taxes or are you not? Hire a reputed tax services Kissimmee and you will not have to worry about this. But there is another issue in the limelight right now form which you must protect yourself.
Tax time is the season when thieves are very active and look around for stealing as much as they can get their hands on. This is particularly so with your Social Security Number which if gained an access to, can be used for claiming a return on your behalf.
According to the IRS, they are already making measures to protect you from this, but their efforts are not going to be enough. You have to play your part and take measures to increase the protection. Here are some ways in which you can do in this regard.
Social Security Number
Your Social Security number is one piece of information that you must not share with anyone whom you do not trust. Store all your social security cards, tax id numbers and any other documents that contain these two in a safe place. Whenever you go outside, do not carry any of these details with you.
Generally, a Social Security Number is required for credit application, licensing and a few other things. As long as it is these, it is okay. If some other company asks you for this, make sure they have the right to know this before you present them with the details.
You will receive all your tax forms via mail. In case you do not get these, contact the sender and ask about the status of the documents. In case, you case suspect theft of these forms from your mailbox, notify the IRS.
Emails and Texts
The IRS never sends any text message or emails. If you come across any of these that state they are from the IRs, it is likely a fraud. Make sure never to reply to any of these or download any attachment contained in the mail.
Fake IRS Agents
Generally, no one form the IRS is going to call you, at least not at this time. If this happens, do not provide information. Instead hang up the phone and call the IRS yourself. Ask them if one of their agents need to have a word with you.
When you send your return, confirm from the postal service that the IRS receives it. Also choose to get your refund through the option of ‘direct deposit’ so that you do not have to bear with any stolen or lost checks.
If you have any concerns about your refund getting stolen, talk to your tax services Kissimmee and they will guide you better.
Getting Organized for Income Taxes
Taxes cause so much inconvenience but you cannot avoid them. They take so much time and frustrate you so much, yet you still have to pay them. Delay them and the IRS wild thunder you with penalties and interests. Not something you want, right? Well, then, get organized and get your taxes done.
The first step that you should do is to hire a reputed tax services Kissimmee. They will simplify most parts of the process and make your tax time a lot simpler than otherwise. Once you are done with this, here is what you have to do.
Before we proceed, we will like to tell you that what is presented below is just a quick guide. Your tax services Kissimmee can present you with the complete details.
Set your numbers right
Are you applicable for a Social Security number? Get one for yourself and for all your dependants. You will need this on your tax return and without it, it will be regarded as incomplete. While you should probably have this with you, chances are that your dependants will not. As such, fill out the required forms on the Social Security Administration website, and visit a local office in your area. Take your child’s birth certificate along with you.
Verify your income
Gather all your income statements of the current year. If you file jointly, you will also need your spouse’s income documents. As long as you have had only one job this year, you will require a W2 form from your employer. If you have tried freelancing or contract work, you will have to get the 1099-MISC form, but this is only so if your earnings were more than $600 from any client or company. For unemployed people, it is the 1099-G form.
Search for your returns from the previous year
If you have filed a return previously, it can serve as a great help. As long as you have not had any life-changing incidents, most of the things will be pretty much the same. Your income sources will be the same unless you have had a job switch or started a business. Similarly, deductions such as mortgage payments, charitable contributions, property taxes and so on, will also be the same.
Find your last year’s return form and do go through it. You will know if you miss out on something and you will also be able to identify errors and then correct them.
If you have found your return of the previous year, go through the deduction section and see the ones you mentioned. There are many deductions that you can include, but you will need proof for all of them. For instance, you can include your fees for tax services Kissimmee, child care costs and medical expenses as a deduction. As long as the sum exceeds around 7 % to 8% of your AGI, you will be able to lower your taxable income. Your chosen tax services Kissimmee can provide you more guidelines about these.
If you need more information about our Kissimmee 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, and Hunters Creek, 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 numbers, incorporations, and non profit 501c3 tax exempt status applications.