File Stimulus Return: It’s Not to Late

October 15, 2008 is the deadline to file a required tax return to receive a  Stimulus Check.  Stimulus tax returns may be mailed or electronic filed to the IRS. I prefer electronic fileing mainly because return will reject if information  entered on return is in error.  Social Security numbers may not match last name of filer or dependent SS # not matching last name or birth year not correct. If a return is mailed to IRS and incorrect as stated previously it will be delayed compared to  electronic filed returns. 
More information  …..Here

Larrie Perkins

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Stimulus Checks: Good for Economy?

Stimulus rebate checks are welcome in most people’s mailbox. The price of fuel, especially gasoline is continueing to increase and is a major factor in the daily lives of most Americans. Stimulus checks are issued according to the last two digets of a person’s security number as to when they are mailed. The last checks of the original schedule should be mailed July 11, 2008.
Checks will be issued after July 11 but no schedule has been made public as of yet. As information is recieved additional posts will follow.

Larrie Perkins
TaxMart Inc.

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Stimilus Payment Link: Check your Stimilus Payment Now

Use this link to IRS web site so you can check amount of stimilus payment. This link released today.

http://www.irs.gov/app/espc

Larrie
TaxMart

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Tax Stimilus: E-file with direct deposit info

The tax stimilus package can be e-filed,  including entering direct deposit information beginning  March 18, 2008. In order for the IRS to recongize transmission as the stimilus package special military processing option is used and $1.00 dollar is included as taxable interest along with SS benefits and or diability benefits. This option gives stimilus package filers option of their funds direct deposited to their respective bank and or savings account (s).

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Tax Filing Tips: Items Needed to File

 

TaxMart Tip

You need to file Income Taxes... Need clarification?

Do you have questions concerning your Tax return?  Well, You are not Alone!

Often when filing taxes they are not explained. I believe An Informed Taxpayer saves Money.
Understanding normal filing protocol serves to inform tax filers What’s Needed?

 
Items Needed to File:

All Income Statements, W2, W2G, 1099, Interest Statements, SS benefits received, Unemployment benefits statement, Names as they appear on SS card (s), Date of Births, SS numbers, How dependant’s are related to you, Proper I. D.  required when using a paid Preparer, State or Gov Issued. 
Medical Expenses Receipts Allowed, all expenses not covered by insurance, Insurance premiums only if  NO employer participation,
prescription meds, eyeglasses and exam cancer policy, Doctor and Dental expenses, mileage to doctors,
all co-pays, long term care deduction (limited), all above allowed if paid out of pocket. (important)
Contributions: Cash to Church and non-profit organizations,  Example : United Way
Non-Cash Contributions sure as clothing to organizations like Salvation Army
Property Tax Deduction: County , State property taxes (real estate, land)Car Tag Deduction, most States, Ad Valorem taxes only,  includes boats and motorcycles
Mortgage Interest: paid to Banks or Individuals, if individual need SS# and Name, address and amount paid, this is reported to IRS
Other  Deductions:
Student loan interest paid, Moving expenses, Gambling losses, (only up to amount of winnings),
Union Dues, Safe deposit box rental, Paid preparer fees paid previous year, Required Safety equip paid by you including safety shoes or required clothing, (clothing must have logo or employer specified color) to qualify for deduction.
Rebates Stimilus Package:
must file 2007 return more…my tax rebate blog
If any of the above applies to you they will be needed to file your taxes to get maximum deductions.
“An Informed Taxpayer saves Money”
Larrie Perkins
Questions and Guest Book
www.taxmart.us

 

             

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