Tax Preparation

Frequently Asked Questions

Are there benefits to filing my taxes early?

It is never too early to start income tax preparation. There are not substantial benefits to filing your taxes before April minus the fact that if you qualify for a tax refund that you will get it sooner rather than later. Our accountant encourages our clients to start tax prep before getting close to tax deadlines to avoid extra fees and costs.

How do I know if I need help from a professional with my income tax preparation?

Whether you need an accounting service to help you with your tax preparation and tax filing depends on how complicated your finances are. The more big life changes, investments, and so forth will make your filing process more complex. Hiring an experienced accountant will help you save time and money.

What are the two biggest tax breaks for individuals?

The two biggest tax breaks for individuals are having kids or a mortgage.

What documents do I need to gather while I am tax prepping if I have a mortgage?

If you are prepping to file your taxes and have a mortgage then you will need to get a Form 1098. This form is needed while filing your taxes so that you can report the interest you have paid on your mortgage.

What documents do I need when filing taxes if I am / was unemployed?

If you were unemployed for a time during the past year and received unemployment benefits from Georgia or another state then you must provide your accountant with a 1099-G form. This form will detail out the benefits that you received over the past year.

When is the earliest that I can file my taxes?

As stated above it is never too early to tax prep. However, you can’t file your taxes until you receive all the necessary documentation that you need including your W-2 form.

Is there a benefit to filing my taxes electronically?

Filing your taxes electronically typically means that you get your refund faster. Our accountant can file your taxes electronically or by mail.

What paper work do I need to have ready for my meeting with your accountant?

Our accountant will need the below information from you to start on your income tax preparation and filing:
• Names ( for each family member)
• Date of births ( for each family member)
• Social security numbers ( for each family member)
• Last year’s tax return
• Valid driver’s license
• W-2’s
• Interest ( 1099-INT)
• Dividend slips (1099-DIV)
• Stock Sales (1099-B)
• Self-employment income and expenses
• Sale of a personal residence
• Rental income information
• Sale of any assets
• Gambling or lottery winnings
• State income tax refund (1099-G)
• Personal income (1099-R)
• Estimated taxes paid
• Social security (SSA-1099)
• IRA or 401(k) distribution
• Unemployment compensation
• Miscellaneous income

How can I get my tax information to the accountant?

The information can be faxed or emailed. If you are a local client you may schedule an appointment for pickup or onsite preparation.