Frequently Asked Questions

These are a few Frequently Asked Questions that we are asked on a daily basis concerning taxes, how to use our online filing system and more:

How do I use the online service of filing my taxes online?

Simply place your information that is being asked of you on the following file online page, attach the documents that apply to the following with the form and a professional will contact you within 24 to 48 hours of completing to go over the details of your case.

 

What is new with 2013 from 2012?

There are a few changes that have been made from last tax season to this tax season which really those who made over $100,000 should not worry about the changes.

 

What are the taxing brackets and how do they work?

*Highest tax rate is 39.6%

 

I have medical/Dental expenses how much can I itemize?

*The medical and dental expenses is no longer 7.5% it is 10%, unless you are born before January 2, 1949

 

When can you not take advantage of the all of your itemized items?

You are not able to take all of your itemized deduction if you are are over the following:

-$150,000 MFS

-$250,000 Single

-$275,000 HOH

-$300,000 MFJ

 

The minimum tax was partly deductible last year, is it partly deductible this year?

No longer partly refundable is the minimum tax from last year

 

What about same sex marriage?

*If you are in a same sex marriage in a state that same sex marriage is legal you are to use MFS or MFJ and if you are to move to a state that same sex marriage is not legal you are still required to file MFJ or MFS.

Do I have to file taxes?

Yes you have to file unless you are under 19 years old or 24 years old as a full time student… If doing so you will have to include their income with their parent’s or whomever they are dependent on income.

 

When is the latest date I can file?

The date for individuals to file their taxes is generally April 15, 2014, if you file without filing an extension you may have to pay interest and penalties for not filing on time.

I don’t make allot of income, when must I file?

It is true if your income falls under a certain number you are not obligated to file, I advise you that the money you would receive after 3 years will no longer be available and the potential to receive EIC, Additional child tax credit, American Opp credit and more. Why leave money on the table?

You must file a return if you are the following:

If your filing status is And of 2013 your age Gross income was over
Single over 65

$10,000

under 65

$11,500

Married filing Jointly under 65(both)

$20,000

over 65

$21,200

under 65

$22,400

Married filing separately any age

$3,900

Head of Household over 65

$12,850

under 65

$14,350

Qualifying widow(er) with dependent over 65

$16,100

under 65

$17,300

What medical or dental expense are deductible?

This is a list of deductions you are able to make here, you are unable to benefit from those expense until they reach a certain number based on your income. If you are over 65 years of age it starts at 7.5% of your GI and if you are under 65 10%

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