Tax time can be a headache when it comes to filing your taxes. For tax return preparation in Forth Worth or Arlington, we can help prepare your taxes, file them, and get your money to you quickly and without hassle. However, it helps for you to keep good records throughout the year. You should organize your records by date and by category. Bring all of this with you to your appointment with us. Simply call 817-200-4620 and let us help you get your tax return done.

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Recordkeeping for itemized deductions on your tax return is so important. Things you should save for recordkeeping include the obvious W-2s and pay stubs. If you earned any tips, you should include records of them. Also save your receipts for high value items, such as the purchase of sale document of a vehicle or house. Investment records and retirement account contributions should also be kept. You should also save records of investments and contributions to retirement accounts, 1099 Forms, bank account statements, brokerage account statements, and itemized deductible receipts.

On itemized deduction receipts, the dollar amount should be recorded, as well as the transaction date, check number, and payee’s name. If you pay cash for something, be sure to obtain a signed receipt that shows the date of your purchase. Other records that should be kept are insurance records and medical expenses. Papers for insurance claims should include date of the claim, the details of the claim, and the date it was paid. Other records to keep include those of your charitable donations. The IRS accepts donation proof in the form of a copy of a canceled check, receipt from a credit card purchase, and/or a bank account statement.

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You can also ask the charity to provide you with a written document with their name, date of donation, and donation amount. If you volunteer your time for a charity, certain receipts can be included in your itemized deduction, such as your fees for parking, gas mileage, toll receipts, and bus/taxi fares. Again, write the charity’s name, expense, and amount of expense on your receipts. If your home is used for business or if you are self employed, detailed records should be kept which show your income and expenses.

Some of the items used in a home for business can be included in your itemized deduction. If you have suffered a theft or loss of deductible items, you will need an insurance appraisal and police report to prove theft or loss of those items. By keeping these records and bringing them with you to our offices, we can help you get your tax refund quickly.

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