Best Tax Preparation Resources

Individual Tax Preparation and Business Tax Preparation

Best Tax Preparation Resources Plus Tax Tips That Will Make Your Tax Time Simpler

Frequently Asked Questions About Income Tax Preparation

Every client experiences different tax circumstances in the preparation of their income taxes. In addition, tax laws change every year. Since 1981, we have answered thousands of questions for our clients in this ever changing environment.

In our FAQ section, you will find some of the most common questions our clients have asked over the years. Check back often. We’ll continually add new questions and answers.

If you have a question that is not listed, send us an email. We’ll be happy to answer your question concerning income tax preparation and we can even add it to this list to help other tax payers who have the same questions.

Plan for the Next Tax Preparation Season Now

Use our “Plan for Tax Season Checklist” and stop wondering what paperwork you need to file your taxes. Get every deduction and tax credit available for your circumstances. Reduce your tax liability! Increase your tax refund!

Use our Tax Planning Checklist to collect everything you need for the next tax season as you go. Whether, you need individual tax preparation services or business tax preparation services, the next tax season will be smooth sailing.

Save every document that is a potential tax deduction or tax credit during the year. Label a file folder “Tax Information for 20**” and drop your paperwork in it. Maybe, you have a life changing event and wonder if it will make a difference in your income tax for the coming year. Go ahead and drop that paperwork in your file, too.

When January rolls around, you will be prepared. No more searching and struggling to discover much you spent on tax deductible items during the year. You are ready for our tax preparation services once you receive your W2, 1099, or other income documentation on or before January 30th. You’ll receive that tax refund super fast!

How Long Do I Have to Plan for Tax Time on April 15, 2019?

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The Best Tax Preparation Services Starts Today

Our tax preparation checklist is a good resource for your next tax season

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IRS Tax Calendar of Important Dates

Individual and Business Income Tax Preparation Dates and Links.

Sometimes dates may slip by, and you will  miss a date for paying your estimated taxes, submitting documents,  or other important IRS dates. Stay on time and avoid IRS penalties.

Our “IRS Dates You Don’t Want to Miss” PDF Document contains Dates, Information, and IRS Links to keep you on time and up-to-date. Check it out, no sign up required!

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IRS Important Dates for your income tax preparation

Receive Your Maximum Tax Refund Fast

4-Steps From Preparing Your Taxes to Receiving Your Refund

Step 1: Carolina Business Services Prepares Your Tax Return

  • We’ll guide you through identifying all your deductions and credits in our Personal Q&A Tax Interview ensuring you get the maximum refund possible. All you do is answer simple tax related questions. We take care of all the calculations and let you know if you are missing information that will save money on the taxes that you owe.

Step 2: Carolina Business Services Transmits Your Tax Return via e-filing through a encrypted, secure connection to the IRS.

  • E-file your tax return with direct deposit to your personal bank account is the fastest way to receive your refund.
  • If you owe a tax payment, you can still e-file. Mailt your payment to the IRS before the deadline for filing your taxes.

Step 3: The IRS Takes Over and Begins Processing Your Tax Return

  • Your Tax Return is processed by the IRS, generally within 48 hours from the e-file submission date.
  • Usually, the IRS will issue your refund within 21 days of being accepted.
  • For more information, see IRS Publication 2043 or contact us.
  • You can check the status of your e-filed tax return through the IRS Website Portal.

Step 4: The IRS Completes Processing Your Tax Return

  • IRS automatically deposits your refund into your checking or savings account

Note: The IRS does not share refund status information with Tax Preparation Service companies, but the “Where’s My Refund” on the IRS and state websites are easy to use.  State Refund Status: Times vary. Check online With Specific State

Choose How to File Your Taxes & Receive Your Refund

Your choice of how to file your taxes once the tax preparation is complete will help you decide the fastest way to receive your tax refund. Ways to File Your Taxes (See “Ways to File Your Taxes” Document):  

  1. Mail
  2. E-file
  3. Use Refund Transfer

Choose From the Following Refund Options When Filing Your Federal or State Income Taxes Paper Check: Your refund check will be mailed to you by the IRS and/or state taxing authority. Generally, it will arrive in 6 weeks after your return has been accepted by the IRS or state taxing authority. Direct Deposit:  Your tax refund will be deposited into your bank account by the IRS or state taxing authority. Generally, within 21 days after the federal or state has accepted your tax return. Refund Transfer (RT):  Pay Nothing Out-of-Pocket. The RT is Bank Product. (call for the current bank information). An RT is not a loan. It offers the convenience of an IRS or state Direct Deposit. The IRS or state tax authority will send your tax refund in approximately 21 days. Your tax preparation fee can be deducted from the tax refund proceeds. The balance of your tax refund will be disbursed as a direct deposit into your personal bank account or as a check (you’ll be notified when the check is available.)  Additional fees may apply to certain circumstances.  Give us a call for details.

You have a choice of how to file your taxes

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Have a Question About Your Income Tax?

If you do not find an answer you are looking for in the FAQ section below, we offer Free Consultations. Give us a call (828) 287-9595 or send an email. We are happy to answer your questions!

Our Client’s Most Frequently Asked Income Tax Preparation Questions

If you don’t see an answer you are looking for, give us a call at 828-287-9595

We’re always happy to hear from you!

 

I live out of the area, can you still prepare my taxes?

Yes, with the help of fax, email or phone, information can be exchanged, and signatures obtained. We can complete any state tax return.

We prepare income tax returns for clients who travel extensively. For example, construction workers who work in several states, evangelists may be based in 2 states or clients that have moved away and live in California, Kentucky, Nevada, Wyoming, Florida, etc.

Additionally, we prepare taxes for US citizens living abroad.

What paperwork do I need to bring with me to your office?

We are required to retain a copy of each person’s photo ID and social security card along with the dates of birth for each person that will be on the tax return.
Also, we need the source documents of your income (W2s, 1099Rs, etc).

If you expect to deduct expenses or receive credits, we will need your information pertaining to those items. In most cases, we do not need to see your actual receipts; a listing by type of expense is generally sufficient, but we do reserve the right to request additional information if needed.

Below is a detailed list to help organize your important tax related documents and ensure you will receive all the deductions and credits you deserve.

Please Note: documentation will vary based on your specific circumstances. This list is not all inclusive.

Each Family Member’s Personal Information

  • Name
  • Date of Birth
  • Social Security Card or ITIN/ATIN
  • Last Year’s Tax Return (if we didn’t prepare your return last year)
  • Valid Driver’s License

Income Information

  • Dividend Slips – 1099-DIV
  • Estimated Taxes Paid
  • Gambling or Lottery Winnings – W-2G, if appropriate
  • Interest – 1099-INT
  • IRA or 401(k) Distribution – 1099-R
  • Miscellaneous Income – 1099-MISC
  • Pension Income – 1099-R
  • Railroad Retirement – RRB-1099
  • Rental Property Income
  • Sale of Business Assets
  • Sale of Personal Residence
  • Self-Employment Income
  • Social Security – SSA-1099
  • State Income Tax Refund – 1099-G
  • Stock Sales – 1099-B or Broker Statement
  • Unemployment Compensation – 1099-G
  • W-2 – Wage and Tax Statement

Deductions and Adjustments

  • Auto Mileage or Expenses for Business
  • Home Office Information, if Applicable
  • Charitable Contributions: Cash and Non-Cash
  • Educator Expenses
  • Employee Business Expenses
  • Gambling Losses
  • Higher Education Expenses
  • Medical Expenses
  • Mortgage Interest
  • Moving Expenses
  • Rental Property Expenses
  • Self-Employment Income and Expenses
  • Student Loan Interest
  • Taxes: Real Estate or Personal Property
  • Traditional IRA Contributions

Tax Credits

  • Child Care Provider: Name, Address, (EIN) or (SSN)
  • Adoption Expenses
  • Retirement Savings Contributions Credit

Why should I use a professional tax preparer instead of doing my tax return online or with a franchise company?

There are situations that a client could wind up paying too much tax, miss credits or not exempt themselves from a penalty because they are unaware of certain tax provisions.

Tax laws continually change. As professional tax preparers, we increase our knowledge through numerous tax courses. Also, we maintain up-to-date reference materials ensuring we do not miss any deductions or credits on your tax return.

How do you ensure my taxes are accurate with the maximum refund possible?

We begin with a face-to-face conversation with you. We will answer all your questions and ask you questions about your specific tax situation. Devoting our full attention to you, we do not enter your tax information into the computer as we talk.

Our goal is to discover everything concerning your specific tax circumstances. We will take notes. Then, we pull all that data together with an emphasis on tax deductions and credits available to you.

After that, we’ll give you an estimate of your tax refund or taxes due.

None of our tax preparers key numbers in and rely solely on the computer to auto-generate your tax return while we chat. This keeps us on our toes and allows us to interact with you rather than the computer screen.

We stay up-to-date with the current tax laws and regulations. Then, apply that knowledge, and our experience to accurately prepare your taxes.

After you leave the office, your tax information is entered into our computer system. The tax preparer’s calculations from the interview is compared to the computer-generated tax return ensuring we have found all the credits and deductions that are allowed for you.

Finally, all the calculations are run through hundreds of the computer software rules ensuring that your return is accurate and complete.

We feel strongly that this method of tax preparation gives you the full benefit of our income tax experience and provides the best, most accurate result.

Will my information be kept confidential?

We take great care to keep your information private and protected.

No information is given to a third party without your permission.

We cross-cut shred any paperwork that needs disposal plus our computer system has up-to-date virus protection.

Are you wondering if you have a mistake on a previous year income tax return?

If you have been worrying that your online tax filing or tax preparation software did not find all your deductions and credits or that there are errors on your return, then, let our knowledge and experience go to work for you now and in the future.

We can file an amendment to past years tax returns.

Give us a call for a free tax consultation with no obligation. 828-287-9595