Frequently Asked Questions for the Individual Return
1. How much money can you get me on my refund?
That depends on the income, number of dependents, tax credits, etc. No two tax returns are the same.
2. Should I itemize or claim the standard deduction?
Your itemized deductions totals should always be calculated and compare those to the Standard Deduction each year to get the most out of the tax savings available to you.
3. Can I deduct medical expenses?
Only if you itemize then you are allowed to deduct unreimbursed expenses for qualifying medical expenses if they exceed 7.5% of your adjusted gross income.
4. What credits do I qualify for?
It depends on your personal situation. Income, dependents, college, retirement contributions.
5. Can you help me with taxes I have not filed in years?
Absolutely. We will walk you through what is required to file those returns and what you need to do. Every situation is different, but the basics are the same.
6. What can the IRS do to collect back taxes I owe?
There are many options for the IRS. Garnish wages, levy your assets such as your wages, bank accounts, Social Security benefits, and retirement income, and tax liens are just some.
7. What is a tax lien?
A legal claim against your property. The lien protects the government’s interest in all your property, including real estate, personal property and financial assets.
8. What can I do to protect my wages or property if I owe back taxes?
You can apply for a payment plan with the IRS. There are also some other options to lower the amount you owe, but it depends on your circumstances.