January 27th, 2025 is the official start of the tax season. The IRS is now accepting tax returns. We at Fraser CPA/ Taxko Inc. want to let our clients know of simple steps they can take now to get ready to file their 2024 federal tax returns.
As the IRS continues its digital transformation, its goal is to make filing easier for you by providing new online tools as well as expanding and updating other digital tools. We would like our clients to embrace this also.
Access the IRS Online Account for helpful information
Taxpayers can create or access their personal IRS Online Account, where they can find all their tax-related information for the 2025 filing season. New users will need to have a photo ID ready to verify their identity.
Through their IRS Online Account, taxpayers can:
View key details from their most recent tax return, such as adjusted gross income.
Request an Identity Protection PIN.
Get account transcripts to include wage and income records.
View, make, and cancel payments.
Set up or change payment plans and check their balance.
Having well-organized tax records can make filing a complete and accurate return easier and help avoid errors that can delay refunds. This may also help you identify deductions or credits that may have been overlooked.
Most income is taxable, including unemployment compensation, refund interest and income from the gig economy and digital assets. Clients should watch for and gather essential forms, such as Forms W-2, Wage and Tax Statement and other income documents
Our website is a valuable resource for clients, offering a variety of online forms such as:
The Annual Client data form. This form is the lifeblood of the office this reduces errors by over 50% and helps the return move in and out of the office.
The Personal Expense worksheet. This form gives you an idea of the common tax deduction at your fingertips.
Schedule C (Profit and Loss) This form goes down the list of the expenses you can use to save on taxes for your business.
Schedule E (Rental Property) This form goes down the list of the expenses you can use to save on taxes for your rental property.
New Energy Tax Credit Form. This form helps you understand the new energy tax credit you may qualify for.
More information:
· CLIENT PORTAL: You can find a link to our portal. You can send and receive your documents via the portal. This avoids sending information with your SS# via email.
· PAY ONLINE: You can pay your invoice online. We accept all cards, PayPal, Venmo, and even PayPal Pay Later feature.
· REFUND STATUS: You track your federal and state refund online with ease.
· APPOINTMENTS: The best way to schedule an appointment is by calling the office. It may sometimes be faster to drop off /send in your tax documents if you did not have any major changes. We can get your taxes done in about 2 weeks on average.
· NJ LLC FORMATION: Do you want to create an NJ LLC? We now have an online tool that can collect all the needed information to form your NJ LLC. We can get it down as fast as 2 days in some cases. We have been creating NJ LLC since 1997 when they were first introduced in NJ!!
LIFE IS SHORT. PAY LESS, TAXES ™
コメント