Frequently Asked Questions

New Clients Only

1. The IRS requires we verify our clients so we will need Drivers License or State ID Card for you and your spouse.
2. Social Security Cards allow us to make sure your number and spelling of your name is correct.
3. Dates of birth for everyone in your family.
4. Prior year's tax return if you have one.

Existing Clients

1. Form W-2 from each employer's
2. Form W-2G for Gambling Winnings
3. Form 1099-G for Unemployment
4. Form 1099-R for pension, annuity or IRA distributions.
5. Form SSA-1099 for Social Security Benefits
6. Form 1099-B for Sales from broker transactions (Stocks)
7. Form 1099-DIV for dividends and distributions
8. Form 1099-INT for interest income
9. Form 1099-S for sales of home or property
10. Form 1099-SA for Health Savings Accounts  

The IRS gives you a certain amount of income they don't tax, this is called the "Standard Deduction" and is adjusted annually for inflation by filing type.  The Standard Deduction for 2022 tax year is 

• Single $12,950
• Married filing jointly $25,900
• Married filing separately $12,950
• Head of Household $19,400
• Qualifying Widow(er) with dependent child

The Standard Deduction is applied by your filing type and this is something I have found our clients get confused on.  Your filing status is usually dependent on your status on the last day of the year, so December 31, 2022.

Single filing status

If on the last day of the year, you are unmarried or legally separated from your spouse under a divorce or separate maintenance decree and you do not qualify for another filing status.

Married Filing Jointly filing status

You are married or common law and both you and your spouse agree to file a joint return.

Married Filing Separately filing status

You must be married. This method may benefit you if you want to be responsible only for your own tax. If you and your spouse do not agree to file a joint return, you may have to use this filing status.

Head of Household filing status

You must meet the following requirements:

1. You are unmarried or considered unmarried on the last day of the year.
2. You paid more than half the cost of keeping up a home for the year.
3. Your child or parent lived with you in the home for more than half the year,  However, your dependent parent does not have to live with you.

Qualifying Widow(er) with Dependent Child filing status

If your spouse died in 2022, you can use married filing jointly as your filing status for 2022 if you otherwise qualify to use that status. The year of death is the last year for which you can file jointly with your deceased spouse. You may be eligible to use qualifying widow(er) with dependent child as your filing status for two years following the year of death of your spouse. For example, if your spouse died in 2022, and you have not remarried, you may be able to use this filing status for 2023 and 2024. This filing status entitles you to use joint return tax rates and the highest standard deduction amount (if you do not itemize deductions). This status does not entitle you to file a joint return.

The taxpayer has an option to take the Standard Deduction or claim an "Itemized Deduction".  The Itemized Deduction is composed of certain expenses that may be more than the Standard Deductions such as: 

1. Medical bills (may be limited).
2. Charitable contributions.
3. Donations, summarized.
4. Form 1098, Mortgage Interest Statements (may be limited)
5. Property taxes paid in the Tax Year if not on your mortgage statement. (again may be limited)
6. Sales tax (limited also)
7. Sales tax paid on "New" vehicles purchased during the tax year.
8. State and local income taxes. (this is also limited)
9. Gambling losses against gambling winnings.
10. Investment interest