What should I provide for my corporate or partnership tax return?

If QuickBooks is used, provide the following:
• QuickBooks backup file via email, secure portal, or on flash drive/cd
• password for the file, if applicable, or remove password
• 12/31 Bank Statements

If Accounting Program other than QuickBooks is used, provide the following:
• Profit & Loss statement for the entire year 01/01/18 to 12/31/18
• Balance Sheet at 12/31/18
• General Ledger detail for 01/01/18 to 12/31/18 (export to Excel if more than 20 pages)
• 12/31 Bank Statements

If no Accounting Program is used, provide the following:
• Total amount of revenue received for the year
• A list of annual expenses by type (e.g., supplies, telephone, rent, etc.)
• A description (year, make, model) of any automobiles driven for business purposes
• Total annual all-purpose miles and the annual number of business purpose miles driven for each auto above
• A list (including date, description and cost) of any new assets added in the recent year (e.g., computer,
furniture, equipment, etc.)
• A list of any liabilities at 12/31/18 (e.g., business line of credit, business credit card, promissory notes, loans
payable etc.). Provide statements and amortization schedules if available.
• 12/31 Bank Statements

What should I bring for my individual tax return drop off or appointment?

We need to see all official tax documents (W-2’s, 1099’s, mortgage interest statements, etc.). We will scan them and return the originals to you. We need you to provide schedules or complete the organizer for any items that are not supported by tax documents (e.g., medical expenses, charitable contributions, unreimbursed employee expenses, business mileage, etc.). One of the most commonly missed items is automobile registration (VLT). This can be found on the vehicle registration papers that you are supposed to carry in your vehicle. If you have paid property taxes for any property that is not reported on a mortgage interest statement, you can get the amount of taxes paid from the County Treasurer’s website. If you are a new client, we need to see your prior year tax return including any supporting schedules and worksheets.

What are some of the Arizona state tax credit opportunities available?

The state of Arizona allows taxpayers to take advantage of several wonderful tax credits. They are a great way to redirect your tax dollars to a worthy cause.

Please review our Arizona Tax Credits Worksheet for more detailed information: 2018 AZ Tax Credits

The Arizona Qualifying Charitable Organizations Credit, formerly known as the “Working Poor Credit”: This credit allows you to make contributions to qualified charities that provide benefits to low income children, teens and families. The maximum allowable amount for the credit is $800 for a married couple filing jointly or $400 for a single person filing individually.

The Arizona Private School Tuition Tax Credit: Private schools significantly reduce the financial burden placed upon the state of Arizona by millions of dollars. The maximum donation per year available for the credit is $1110 for a married couple filing jointly or $555 for a single person filing individually.

The Public Schools Tax Credit: Donations made to public schools are eligible for a tax credit in the same way that the credits are available for private schools except, the donations to public schools must be made to extra-curricular activities. The public schools maximum donation per year available for the credit is $400 for a married couple filing jointly or $200 for a single person filing as an individual.

How long will it take to get my refund?

The amount of time it takes to get your refund will depend on how you elected to receive it. If you have elected to get your tax refund through a direct deposit into your checking account, your refund will be deposited to you within 1-2 weeks. If you have elected to have your refund mailed to you as a check, then the waiting period is 2-3 weeks from the time the IRS processes the return. These are estimations and the time can vary depending on the volume of returns the IRS is receiving.

How much will it cost to have my individual tax return prepared?

 Our fee to prepare a tax return varies from client to client depending on the complexity of the tax return.  Our fees are based on the time it takes us to prepare the tax return.  If your records are organized or you use our tax organizer, chances are it will reduce the time it takes us to prepare your tax return.  If you are a homeowner, you most likely need Schedule A to itemize deductions.  Our fee for a 1040 with Schedule A to itemize deductions starts at $195 and increases from there if there are any other forms needed in the tax return.  You might use Form 2106 for Un-reimbursed Employee Expenses which would be an additional fee.  Or perhaps you have a Schedule B or Schedule D.  If you have a rental property, your tax return will include Schedule E.  By looking at your prior year tax return, we can give you a better estimate of our fees for the type of return you have.  People with no itemized deductions and one W-2 may only require a 1040-EZ, which can be prepared for a much lower rate.  You can see the items needed for your tax return in a separate question under FAQ’s on our website.

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