 Is it true that a "full-time student" will get all of the taxes they pay back? |
| I am 18 years old and am currently attending college with 14 credit hours per semester; I am also working around 20+ hours per week. My parents claimed me as a dependent for the 2007 tax year, but I ... |
|
 Who should claim our daughter in our taxes? |
| So my fiance has been working since Oct of 07 steady income but not as much as we will like he will be filling a years worth of 12,000 (roughly). I have been working since July of 08 and will be ... |
|
 Who should claim the baby? |
| I live with my boyfriend. We are kinda disagreeing about who should claim our son, who was born in September. I am not working right now and he is. I only worked about 3 months this enitre year but I ... |
|
 Can you file taxes as a college student? |
| I havent worked since December of 2006 and I was in college from that time on. Am I eligible to receive an income tax check because i received income from refund checks from school?... |
|
 How do i report my Ex to IRS and have FAST ACT? |
| she has not work for the last past 6yr also she is on state's funds for our kid's medical she has denied me visitation, and getz away with it, because her paid lawyer. I am unable to find ... |
|
 I got over paid from my fed employee.now i owe irs.i havent settle with them can they take my refund automatic |
| i got over paid from my previous federal employee.now i owe irs a huge amount.i havent settle with them. can they take my refund automatically?... |
|
 How do I receive a better Federal Income Tax Refund being single? |
| I'm single with no dependants and I don't own a home. This last year I grossed $7500 and I do have a side business but didn't make more than $2000 doing that. So what can I do? Any ... |
|
 I did a fertility egg donation last year and have received a tax form showing the money i received for this.? |
| I am being told 2 different things on how to report it on my taxes. One person is telling me that i can claim that money under pain and suffering due to the fact that i had to take numerous shots ... |
|
 Is it complicated for an accountant to give a copy of your tax returns to you? |
| I just asked the secretary of our accountant that prepared our 2006 Tax Returns if he had a copy of our taxes, becasue we didnt have them for some reason and she said it she wasnt sure if I could ... |
|
 TAX HELP I owe but dont have the money to pay it yet. What do I do? |
| I owe over $3000. I dont have it. Can I file my taxes and pay this over time or can I send it in later? What are the laws on this? I need a few months to pay it.... |
|
 Stimulus Checks .... Has anyone received their's yet? |
| Just wondering if anyone had received their "Stimulating money" from the IRS yet. This is what I call it. If so, was it direct deposit or paper?... |
|
 How to know pan without acknowledgement number and coupon number? |
| Actually ours is Partnership Firm, we have PAN but PAN card we lost it. Now how to know pan from the Internet without entering Acknowledgment numbe and Coupon number please inform at the ... |
|
| First person to tell me how much a 24 year old earning £24000 per year? |
and paying £2500 into his pension with £2000 net income from investments is taxed gets 10 points
Additional Details
you dont need any more information to work this out. if you cant ... |
|
 Cash Donations - Deduction Question? |
| I'm doing my taxes now, and I've calculated i've donated almost $10,000 in cash to the homeless in 2007. Did I need a receipt, to be able to claim this? How would I get a receipt ... |
|
 Economic Stimulus? |
| I did not receive any notices in the mail regarding my economic stimulus package and should be getting one. The IRS site has something where you can look "wheres my stimulus" about one week ... |
|
 How to save income tax? Please help? |
Hello All,
I need to save income tax. I need to save the tax, so that i can draw the maximum salary in cash. Is there anyway.. Please help.. My ctc is 250000. Which is the best option and ... |
|
 What is the maximum amount you can legally pay in pennies? |
Or nickels, dimes, etc.?
I have a five figure tax bill coming up and I'd love nothing more than to dump a truckload of pennies in the IRS lobby.... |
|
|  |
Adam S | How can I make my CPA happy? |
I itemize deductions and have hundreds of receipts. My CPA always complains that I send my return in too disorganized to complete in a timely fashion. What can I do to organize more efficiently for my CPA?
Is it worth while to put receipts in order by date? or is it better to categorize them into "Medical", "Business Expense", "Real Estate", etc...?
I want my CPA to be happy to get my tax stuff this year!! |
 |
 
mac
 |
Well, honestly, unless he is a blood relative, your CPA should be VERY happy everytime he cashes your check! But you are correct. If you "categorize" your receipts- by medical, business, real estate taxes, repairs, business trips, etc. it would make his life much easier. But my question to you is, isn't what you will be doing for him part of his job that you are paying him for?
As far as "being happy to get your tax stuff"--- any accountant should be happy to get your tax stuff- that "stuff" represents his livelihood and with the numerous qualified online and purchasable software that is capable of completing even the most complicated tax filings, your "stuff" should look like a blessing to him- chaotic or not but, you are a nice guy and maybe he'll give you a discount for your organizational skills this year.
Happy New Year! |
|
J C
 |
My suggestion is call and ask him... |
|
Jamie316
 |
Categorize them for your CPA... Tax season is hard enough without having that done. (I know, I did my internship at a CPA firm.) |
|
Denise
 |
I say categorize it and then organize each category by date. And of course, be sure to get everything to your CPA as soon as you can so s/he can work on it for you. That way you can get your money sooner too. :) |
|
texascajun82
 |
You should look at the major forms that are included in your return, and sort and summarize your expenses by each form and line. You don't have to give him all the receipts unless he asks for them.
Of course, if you do this, then why do you need a CPA? |
|
extra_37
|
Summarize your receipts. Don't just have him do the math. He does not need to see your "hundreds" of receipts. If you tell him you spent 10,000 on medical, he can use that number. It is YOUR responsibility to have the documentation.
If he gives you an "organizer, fill it out.
You will make him happy and he won't have to charge you for addiing up your receipts. |
|
WealthBuilder
 |
As a pro tax preparer, I am ALWAYS happy to get a "basket case" because I get to bill more :)
Seriously, the first thing you should do is ORGANIZE. If you don't currently use a program like Quicken, QuickBooks, or Money, then KEEP good books by hand. If all else fails, use the BAGGIE method. Put all receipts of a common type in a baggie. it doesn't matter what your categories are, the accountant will put them in the right boxes. Not all expenses are treated alike.
DON'T GIVE the baggies to the accountant!
Rather, at year end, YOU should add up the receipts in each baggie and summarize on one or 2 pieces of paper. Keep the receipts and give the accountant the summary! Also give the accountant any W-2's, 1099's, 1098's etc. And finally, give him the bank statements, organized neatly with all pages and all months covered in the tax year.
The last thing we number-crunchers want to do is to go through bags of receipts one-by-one and try to figure out what number is at the bottom. (I actually had one client bring me Igloo coolers filled with receipts and broken bottles and spiders..yuk) I charge $150 and hour to do that. Do you want to pay me?
A good accountant will not only be able to crunch your numbers, but he should spend some time to ASK GOOD questions looking under the rocks to find deductions that you may not even have receipts for. I regularly find legitimate, audit-proof deductions for clients even when there is no receipt (but other proof may be required).
The WealthBuilder
Enrolled Agent / Tax Specialist |
|
datette
 |
As someone who's currently recreating someone else's accounting for the last 2 1/2 years because they just don't know what they're doing, let me tell you emphatically: *categorize them by type of deduction!* You may pay your accountant to calculate and file your taxes for you, but you're not paying him/her to do your bookkeeping as well. Receipts only back up the numbers used to determine if you owe or are owed. If you have him do all of the other stuff as well, I hope he's charging you by the hour ;) |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
8 | 13 minutes(s) ago
| | | |
8 | 25 minutes(s) ago
| | | |
8 | 54 minutes(s) ago
| | | |
8 | 2 hour(s) ago
| | | |
8 | 7 hour(s) ago
| | | |
8 | 8 hour(s) ago
| | | |
8 | 1 day(s) ago
| | | |
8 | 4 day(s) ago
| | | |
8 | 2 week(s) ago
| | | |
8 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
