|Bruce Kingsbury Tax Preparation|
We are changing how tax returns are processed to comply with state and local social-distancing recommendations.
Securely upload your documents by using the link below:
• UPLOAD YOUR DOCUMENTS HERE •
Your returns will then be prepared by our office.
Using DocuSign, we will then send your returns for signature.
Married couples must provide an email for EACH tax payer.
When you receive your return via DocuSign, it will direct you to provide your signature in the required places on the form. When completed, it will automatically be returned.
You need to file your 2019 tax return before you receive your stimulus check.
COVID-19 stimulus check information can be found here. We appreciate your patience during this difficult time, and hope that you and your family stays healthy and safe.
Please call my office with any questions regarding the changes.
Business owners and Landlords
Business owners and Landlords be aware that if you paid independent contractors $600.00 or more in the past year you need to file form 1099 for them. (This is a check box on the tax return). I can assist with this process. Have them fill out Form W9. This form has to be mailed to your contractors by 02/01/2017 with a copy mailed to the I.R.S.
I will need to review your mileage logs if you are claiming business miles for the year. Also if you're claiming donations or contributions please include proof of these deductions with your tax documents.
E-filing announced by IRS to begin Jan. 29
The IRS reminds taxpayers that a new law requires the IRS to hold refunds claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until Feb. 15.
In addition, the IRS wants taxpayers to be aware it will take several days for these refunds to be released and processed through financial institutions. Factoring in weekends and the President's Day holiday, the IRS cautions that many affected taxpayers may not have actual access to their refunds until the week of Feb. 25.
Are you planning on retiring in 2019?
You need to see me first.
Save Twice with the Saver's Credit
If you are a low-to-moderate income worker, you can take steps now to save two ways for the same amount. With the saver's credit you can save for your retirement and save on your taxes with a special tax credit. Here are six tips you should know about this credit:
1. Save for retirement. The formal name of the saver's credit is the retirement savings contributions credit. You may be able to claim this tax credit in addition to any other tax savings that also apply. The saver's credit helps offset part of the first $2,000 you voluntarily save for your retirement. This includes amounts you contribute to IRA's, 401(k) plans and similar workplace plans.
2. Save on Taxes. The saver's credit can increase your refund or reduce the tax you owe. The maximum credit is $1,000, or $2,000 for married couples. The credit you receive is often much less, due in part because of the deductions and other credits you may claim.
3. Income limits. Income limits vary based on your filing status. You may be able to claim the saver's credit if you're a: Married couple filing jointly with income up to $62,000 b: Head of Household with income up to $46,500 c: Married person filing separately or single with income up to $31,000
4: When to contribute. If you're eligible you still have time to contribute and get the saver's credit on your 2016 tax return. You have until April 15, 2017, to set up a new IRA or add to an existing IRA for 2016.
5. Special rules apply. - You must be at least 18 years of age. - You can't have been a full-time student in 2016. - Another person can't claim you as a dependent on their tax return.
Content taken from IRS web site at www.irs.gov (special edition tax tip 2014-22)
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