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Tax Preparation and Planning

Find Out About:

  • Taxable and Non-Taxable Income
  • Who Must File a Return
  • Who Qualifies as a Dependent
  • Filing Status
  • Children of Divorced and Separated Parents, etc.

Individuals

Revised Form 1040 Includes Following (partial):

Schedule 1 - Additional Income and Adjustments

  • State and Local Income Tax Refunds
  • Business Income/Loss
  • Rents, Royalties, Partnerships, S Corp., Trusts
  • Unemployment Compensation
  • Educator Expenses
  • Health Savings Account
  • Deductible Portion of Self Employment Tax
  • Self Employed SEP, SIMPLE and Qualified Plans
  • Penalty on Early Withdrawal of Savings, etc.

Schedule 2 - Additional Taxes

Includes the Following (Partial):
  • Additional Tax on IRAs, Qualified Plans
  • Household Employment Taxes
  • Unreported Social Security and Medicare Tax
  • Alternative Minimum Tax
  • Self-Employment Tax, etc.

Schedule 3 - Additional Credits and Payments

  • Foreign Tax Credit
  • Child and Dependent Care Expenses Credit
  • Education Credits
  • Residential Energy Credit
  • 2019 Estimated Tax Credits and 2018 Applied Refund
  • Amounts Paid with Extensions, etc.

Schedule A - Itemized Deductions

Schedule B - Interest and Dividends

Schedule D - Sales and Exchanges

Schedule E - Passive Activities at Risk

Corporations (C and S)

  • Basis
  • Capital Contributions
  • Stock
  • Section 1244 Stock Losses
  • Distributions
  • Earnings and Profits
  • Accumulated Earnings Tax
  • Corporate AMT
  • Loss and Miscellaneous Items
  • Reasonable Wages (S Corp)
  • Shareholder Basis (S Corp), etc.

Partnerships (Including LLC)

  • Basis and Audit Rules
  • Classification
  • General or Limited Partner
  • Exclusions
  • Built-in Gains or Losses
  • Distributions
  • Personal Service Corporation
  • Personal Holding Company, etc.

Estates and Trusts

Payroll Tax Returns

  • Deposit Requirements
  • Payments
  • Withholding Federal Tax
  • FICA/FUTA Wage Base
  • New Hire Reporting
  • Special Compensation
  • Disregarded Entity Payroll Taxes, etc.