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TAX TIPS

  • Cash donation require receipts
  • Home repairs are not deductible. Major repairs could add to your basis in your home.

CONTACT

  • Need to get in touch with the IRS? (800) 829 1040

 

 

 

 

 

 

 

TAX FEES

  • 1040EZ - STARTING $60
  • 1040A - STARTING $70
  • 1040 - STARTING $80


1040EZ You may qualify to use Form 1040EZ, the simplest form, if:

  • Your taxable income is below $100,000
  • Your filing status is Single or Married Filing Jointly
  • You are under age 65
  • You are not claiming any dependents
  • Your interest income is $1,500 or less



1040A You may be able to use Form 1040A if:

  • Your taxable income is below $100,000
  • You have capital gain distributions
  • You claim certain tax credits
  • You claim deductions for IRA contributions, student loan interest, educator expenses or higher education tuition and fees



1040 If you cannot use either a 1040EZ or 1040A, you probably need to use Form 1040. You must file form 1040 if:

  • Your taxable income is $100,000 or more
  • You claim itemized deductions
  • You are reporting self-employment income
  • You are reporting income from sale of property

  


SHOULD YOU FILE A TAX RETURN?

You must file a tax return if your income is above a certain level.  The amount varies depending on filing status, age and the type of income you receive. 

For example, a married couple under age 65 generally is not required to file until their joint income reaches $16,900. However self-employed individuals generally must file a tax return if their net income from self employment exceeds $400.

Check the “individuals” section of the IRS Web site at IRS.gov or consult the instructions for form 1040, 1040A or 1040EZ for specific details that may affect your need to file a tax return with IRS this year.

E Tax Solutions, Inc. © 2007