Wednesday, December 29, 2010

What You Want To Know

If you have questions or comments you would like me to discuss please email your questions or comments to TaxTalkWithTasha@gmail.com or you can you leave a comment on the page.

Year End

As we close out the year here are a few things you should keep in mind for your up coming individual Income Tax Return.

  • Ensure your Human Resources has your up to date address so that you do not have a delay in receiving your W-2. This is especially important for people who work from remote locations.
  • Ensure that your name and Social Security Number is accurate with Human Resources, so that they are correct on your W-2.  Very important for those who have had this problem in the past or if this is your first year with this employer. 
    • If you have changed employers during 2010 call your previous company's HR department to ensure they have all up to date and accurate information.
  • If you are planning to claim an education credit for either you or a dependent, inquire whether the school will mail the 1098-T form or if it is available for download via their online system. 
  • If at some point during 2010 you have collected unemployment, wait for your 1099-G before filing your Income Tax Return. 
  • If you purchased a home by April 30, 2010 and settled by September 30, 2010 you may be eligible for an up to $8000 credit. First Time Home Buyer Credit
This is not an exhaustive list,  just some things to get the wheels turning and get you prepped for the upcoming tax season.