Income Tax Services
Maximize Your Refund, Minimize Your Stress! Choose Wise ATP for Expert Tax Services in CT Today!
YOUR FINANCES IN THE WISEST HANDS!
If you have any questions to schedule your appointment
SERVICE REQUIREMENTS
Previous Tax Preparation Copy
Please provide a copy of your prior year's tax return. This helps ensure continuity and may contain important information for this year's filing.
Tax Forms for the Current Year
Essential forms include your W-2 (for employment income), 1099 (for various types of income), mortgage interest statements, and Form 1098 (if you're a student). Additionally, bring documents related to health insurance, especially if you have private coverage.
Investment Documents
Include statements or records of any investments you hold, such as stocks, bonds, or mutual funds. This helps us accurately report capital gains or losses.
Rental Income and Expense Records
If you have rental properties, bring documents related to your rental income and expenses. This includes rental income statements, receipts for maintenance costs, and property-related bills.
Photo ID and Social Security Cards
To verify your identity and Social Security number, we require a valid photo ID and a copy of your Social Security card.
Other Documents
Depending on your unique tax situation, there may be additional documents needed. For instance, if you have dependents, provide their Social Security numbers and relevant documents.
YOUR FINANCES IN THE WISEST HANDS!
If you have any questions to schedule your appointment
Select our Tax Services for a future filled with financial success. Whether you're an individual taxpayer or a thriving business, our services cater to your requirements, fostering prosperity and offering clarity in an ever-changing financial landscape. Join forces with us and embark on a journey where your financial objectives transform into significant achievements.
FREQUENTLY ASKED QUESTIONS
Feel free to explore the FAQs below and learn more about how our services can streamline your financial processes, ensure compliance, and provide you with the insights needed to make informed decisions.
What is the deadline for filing taxes?
The deadline for filing federal income taxes in the United States is typically April 15th. If it falls on a weekend or a holiday, the deadline may be extended to the next business day. However, it's essential to check for any specific updates each year.
What's the difference between a tax deduction and a tax credit?
A tax deduction reduces your taxable income, lowering the amount of income subject to taxation. In contrast, a tax credit directly reduces the amount of taxes you owe. Credits are usually more valuable than deductions because they provide a dollar-for-dollar reduction in your tax bill.
What is tax withholding, and how does it affect my paycheck?
Tax withholding is the amount of income tax that your employer deducts from your paycheck and sends to the government on your behalf. The withholding amount is based on your income, filing status, and the information provided on your W-4 form. It's essential to review your withholding regularly to ensure it aligns with your actual tax liability. An incorrect withholding amount can result in a tax bill or a refund when you file your tax return. Adjusting your withholding can help you better manage your finances throughout the year.
How can I reduce my tax liability?
You can reduce your tax liability by taking advantage of deductions and credits available to you. Common strategies include contributing to retirement accounts, itemizing deductions, and exploring tax-efficient investment options. Consulting a tax professional can help you identify personalized tax-saving opportunities.
What happens if I miss the tax filing deadline?
If you miss the tax filing deadline, you may face penalties and interest on the taxes owed. It's essential to file as soon as possible to minimize these charges. If you can't pay your taxes in full, consider setting up a payment plan or seeking professional advice to address your tax debt.
Do I need a tax professional to file my taxes?
While many individuals can file their taxes independently, consulting a tax professional can offer several benefits. They can help you maximize deductions, ensure accuracy, and provide valuable tax planning advice. If your tax situation is complex or you have specific concerns, hiring a professional may be a wise choice.