Many people need income tax help and here at Mona’s Auto Insurance Services, we are here to give you the assistance you need. There’s no shame in needing this kind of help. It’s better to have the professionals ensure that your tax return is done correctly than to deal with the hassle of sending in a return that wahttps://monasinsurance.com/services/income-tax/sn’t done properly. Not sure if you need help or not? Keep reading to find out when you should not do your taxes yourself and should get some help with your tax return.
You Might Need to Itemize
One of the biggest reasons to get some income tax help is if you are not sure whether you should itemize or not. Mortgage interest, charitable donations, and medical bills are some examples of things that might need to be itemized. However, in some cases, taking the standard deduction is a better financial decision. If you aren’t sure whether you should itemize your tax return this year, getting some professional help may be the solution. We are here to assist you with your tax return and can help you get back the biggest refund possible.
You Recently Retired
Filing your taxes once you’ve retired is different than you might be used to. As a retired person, your tax return will likely address Social Security benefits, in addition to any income you have made. Retirement withdrawals and pension payments will also need to be noted on your tax return. To make the most of your money during retirement, it makes sense to have a professional take a look at your tax return and ensure that nothing has been missed. Improperly filed returns can be a huge hassle so it is better to get it right the first time.
You Have Ever Paid the Alternative Minimum Tax
The alternative minimum tax, or AMT, has been virtually eliminated, which means that if you have filed with it before, you may need help figuring out how to file differently. The AMT doesn’t apply to many taxpayers anymore and if you find out that you can’t take advantage of it, your tax return won’t look the same as you are used to. Our tax advisors can help you determine whether you can file with the alternative minimum tax but can also help you find out if you are owed any overpayments that you have already made.
You Pay Tax in More Than One State
Tax laws can vary a bit from state to state, so if you pay taxes in more than one, you might benefit from getting some tax help. Tax codes are determined on the state and federal level and voters may choose a different method of taxing its citizens in one state, but not necessarily in another state. You will need to be sure that your tax returns are filed correctly for each state that you pay taxes in. To avoid confusion and mistakes, we can help you get the returns prepared and filed properly for any state you pay taxes in.
If you need income tax help, call Mona’s Auto Insurance Services today.