FAQ for Taxes
Frequently Asked Questions
Personal Tax Filing
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You’ll almost always want to do married filing jointly as this provides you with the most tax benefits. Your marital status for the year is whatever it was on 12/31 of the year being filed.
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Yes. Assuming you’re married filing jointly (most common), our tax packages include your joint tax return for federal and state (if applicable).
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Most likely, yes. Please contact us, as we charge $75 per additional state return and want to make sure we have all of the necessary information.
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We have a call-free process! All of our tax filing packages come with a detailed list of what we need uploaded to our secure portal and email support for any questions.
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Safe harbor estimates allow taxpayers to avoid underpayment penalties by making quarterly payments based on either 100% of the previous year's tax liability or 90% of the current year's expected tax liability. These payments are made in equal installments throughout the year and can provide a reliable way for taxpayers to manage their tax obligations and avoid penalties.
On the other hand, real-time estimates involve adjusting your estimated tax payments throughout the year based on your current income and tax situation. This approach requires more ongoing attention and monitoring, as taxpayers need to adjust their payments as their income and tax situation changes.
While real-time estimates can provide more accurate tax payments, they require more effort and attention from the taxpayer. Safe harbor estimates provide a more simplified approach and can be a good option for those with more stable income or those who prefer a more predictable approach to tax payments.
Overall, the choice between safe harbor estimates and real-time estimates depends on the taxpayer's individual circumstances and preferences. It's important to consult with a tax professional to determine the best approach for your specific situation.
Frequently Asked Questions
Annual Tax Filing for Single Membership and S-Corps
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Yes, this includes personal returns and one business return for a sole proprietorship or single member LLC. If you have more than one business or your spouse also has a business, contact us for rates.
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You’ll almost always want to do married filing jointly as this provides you with the most tax benefits. Your marital status for the year is whatever it was on 12/31 of the year being filed.
-
Yes. Assuming you’re married filing jointly (most common), our tax packages include your joint tax return for federal and state (if applicable).
-
Most likely, yes. Please contact us, as we charge per additional state return and want to make sure we have all of the necessary information to provide a quote.
-
We have a call-free process! All of our tax filing packages come with a detailed list of what we need uploaded to our secure portal and email support for any questions.
-
Safe harbor estimates allow taxpayers to avoid underpayment penalties by making quarterly payments based on either 100% of the previous year's tax liability or 90% of the current year's expected tax liability. These payments are made in equal installments throughout the year and can provide a reliable way for taxpayers to manage their tax obligations and avoid penalties.
On the other hand, real-time estimates involve adjusting your estimated tax payments throughout the year based on your current income and tax situation. This approach requires more ongoing attention and monitoring, as taxpayers need to adjust their payments as their income and tax situation changes.
While real-time estimates can provide more accurate tax payments, they require more effort and attention from the taxpayer. Safe harbor estimates provide a more simplified approach and can be a good option for those with more stable income or those who prefer a more predictable approach to tax payments.
Overall, the choice between safe harbor estimates and real-time estimates depends on the taxpayer's individual circumstances and preferences. It's important to consult with a tax professional to determine the best approach for your specific situation.
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