— Tax Library
Everything You Need For Tax Season
Your One Stop Shop BEFORE Signing Up For Tax Appointments
Please review the forms and FAQ section of this page as it will answer many of the questions you have. You can utilize the Tax Appointment Checklist to help gather forms, as well as referencing your prior year’s tax return.
Tax Organizers & Worksheets
** (These resources are currently being updated and will be available as they are completed!) **
Tax Library & Preparation FAQ
We’ve put together some of the common quesitons that we’ve heard over the years in regards to the tax library and general Tax Preparation.
When is the tax deadline?
The deadline is usually April 15, but it can change if it falls on a weekend or holiday. Extensions can be filed for more time.
How do I file my taxes?
If you understand the nuances of your local, state, and federal tax law, you can file electronically (e-file) using tax software. Otherwise it’s best to file taxes through a tax professional. Last resort would be by mailing a paper return to the IRS.
Do I need to file a tax return?
This depends on income level, filing status, and age. Even if you’re not required to file, you might want to if you qualify for a refund.
What documents are need to file taxes?
Common documents include: W-2 (for employees), 1099 forms (for contractors, freelancers, or investment income), Mortgage interest (1098), Receipts for deductions (charitable donations, medical expenses, etc.) For a full list of required documents, check out our Tax Library.
What tax deductions and credits can I claim?
Popular ones include: Standard deduction (or itemized deductions like mortgage interest, medical expenses), Earned Income Tax Credit (EITC), Child Tax Credit Education credits (American Opportunity and Lifetime Learning Credit)
Should I take the standard deduction or itemize?
The standard deduction is a set amount that lowers your taxable income. Itemizing makes sense if your deductible expenses (mortgage interest, medical costs, donations, etc.) exceed that amount.
How can I check my tax refund status?
Use the “Where’s My Refund?” tool on the IRS website or check through your tax software.
What happens if I can’t pay my taxes?
Options include: Payment plans with the IRS, Offer in Compromise (settling for less), Temporarily delaying collection if experiencing financial hardship
How long should I keep my tax records?
Generally, keep records for at least 3 years (but up to 7 years if claiming losses or in case of an audit).
What happens if I make a mistake on my tax return?
You can file an amended return (Form 1040-X) to correct errors. The IRS may also catch mistakes and notify you with adjustments.
Will The Casual Bookkeeper answer all of my questions about tax preparation?
Respectfully, no. We’ve already put together the previous information above that saves the time of having to do further research. By reaching out and scheduling a Tax Preparation appointment, it is assumed that you have already prepared the required documents needed to properly move forward with the assembly of your tax return and billed as such. ** We do not offer free “consultation” services. **