Everything You Need to Know About Tax Preparation
To ensure your tax return is accurate and avoids any red flags with the IRS, please gather and provide the following:
- All relevant tax forms, including W-2s, 1099s, 1098s, and any other required documents.
- A valid driver's license or state-issued ID to protect your identity and that of your dependents.
- For small business owners, detailed income and expense records, such as invoices, receipts, and bank statements.
By providing these documents, we can ensure a seamless and secure tax preparation process.
Every individual's financial situation is unique. Contact us today to discuss your specific needs, and let us help you minimize your tax liabilities while maximizing your refund.
The deadline to file your 2025 tax return is April 15, 2025. If you need more time, you can request an extension, which extends the filing deadline to October 15, 2025.
If you fail to file your tax return or request an extension by April 15 and owe taxes, you may be subject to penalties and interest on the unpaid amount. It's important to file on time to avoid these additional charges.
- Earned Income Tax Credit (EITC): For 2024, the EITC ranges from $649 to $8,046, depending on the number of dependents you have. Taxpayers aged 25 and older with no qualifying children may receive up to $649.
- Child Tax Credit (CTC): The CTC is worth up to $2,000 per qualifying child under the age of 17 as of December 31, 2024.
Other tax credits may also apply to your situation. Contact your tax professional for personalized guidance on credits you may qualify for.
