Tax Preparation
Information on preparing and filing taxes, understanding tax laws, and maximizing returns.
Adjust W-4 Withholdings
This playbook provides detailed instructions on how to modify the amount of tax withheld from your paycheck by adjusting your W-4 form. The goal is to achieve a balance that prevents owing a substantial amount or receiving a large refund at tax time.
Amending a Tax Return
This playbook provides step-by-step instructions for when and how to amend a tax return using IRS Form 1040X. It guides individuals through the process of making corrections to forms previously filed.
Capital Gains Tax Guide
This playbook provides a detailed guide for calculating and reporting capital gains and losses from investments and real estate. It assists individuals in understanding how to properly document and file these items on their tax returns.
Charitable Contributions Documentation
This procedure outlines the necessary steps to document charitable contributions for tax deduction purposes. It includes what types of contributions are deductible and details regarding record-keeping and documentation.
Claiming Dependent Exemptions
This playbook outlines the steps to claim dependents on your tax return, which can help reduce your taxable income. It includes rules and the procedural process to correctly apply these exemptions.
Claiming Earned Income Tax Credit
This playbook provides a step-by-step guide to determine eligibility and claim the Earned Income Tax Credit (EITC). The EITC is a benefit for working people with low to moderate income, designed to reduce the amount of tax owed and may result in a refund.
Claiming Education Tax Benefits
This playbook provides a step-by-step guide for understanding and claiming education-related tax credits and deductions, such as the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC).
Completing Form 1040
A sequential guide to help individuals accurately complete the IRS Form 1040 for their tax returns. This playbook simplifies the process by breaking it down into manageable steps.
Cryptocurrency Tax Compliance
This playbook outlines the sequential steps required to comply with tax regulations when engaging in cryptocurrency transactions, including buying, selling, and trading. It includes information on how to report these transactions on tax returns.
Determining Filing Status
This playbook outlines the process of identifying the correct filing status for tax purposes, which include Single, Married Filing Jointly, Married Filing Separately, Head of Household, and Qualifying Widow(er) with Dependent Child.
Effective Tax Software Use
This guide outlines the steps to maximize the efficiency and accuracy of tax preparation using tax software. It's intended to help users navigate the software and utilize its features fully for an optimal tax filing experience.
Estate and Gift Tax Planning
This guide outlines the procedure for understanding and navigating the rules of estate and gift taxes. It includes the necessary steps for filing returns and implementing strategies to lower overall tax liability.
Filing Back Taxes
This playbook provides a step-by-step guide for taxpayers who have not filed their taxes for previous years. It outlines the process of preparing and filing back taxes, including addressing any penalties incurred and methods to potentially reduce those penalties.
Freelancer Tax Filing
This playbook describes the process for freelancers to prepare and file their taxes. It covers identifying deductions, making estimated payments, and handling necessary tax forms such as Schedule C.
Handling International Tax Issues
This playbook provides a framework for taxpayers to manage international income, claim foreign tax credits, and adhere to reporting requirements. It is intended to guide individuals through the complexities of navigating international tax obligations.
Handling Tax Audits
This playbook outlines the steps necessary to effectively prepare for and respond to a tax audit. It provides guidance on what to expect during the audit process and how to handle inquiries from the IRS.
High-Income Tax Strategy
This playbook outlines a series of steps for high-income earners to optimize their tax planning strategies. It is designed to assist individuals in high-income tax brackets to effectively manage and reduce their overall tax liabilities.
Homeowner Tax Tips
This playbook provides homeowners with a guide to the tax benefits and deductions they may be eligible for, such as deducting mortgage interest and property taxes from their taxable income.
Maximizing Tax Benefits
This playbook provides a structured approach to identifying and utilizing available tax deductions and credits to minimize tax liability. It offers actionable strategies for taxpayers to capitalize on these opportunities during tax preparation.
Navigating the AMT
This playbook provides an overview of the Alternative Minimum Tax and offers guidance on who it impacts and how to manage its intricacies effectively.
Reporting Rental Income
This playbook outlines the steps for landlords to accurately report their rental income and expenses on their tax returns. It helps ensure legal compliance and appropriate financial documentation.
Reporting Self-Employment Income
This playbook describes the step-by-step process for self-employed individuals to accurately report their income and expenses on the necessary tax forms.
Responding to IRS Tax Notices
This playbook describes a step-by-step process for responding to IRS tax notices, with guidance on understanding and acting upon different types of notifications.
Retirement Tax Handling
This playbook provides a structured process for understanding and documenting how taxes are applied to retirement contributions, focusing on traditional and Roth IRAs.
Small Business Tax Deductions
This playbook provides a step-by-step guide to help small business owners identify and claim the various tax deductions available to them, in order to minimize their tax liability.
State and Local Taxes 101
This playbook provides an overview of state and local tax systems. It outlines the essentials of filing and paying these taxes as additional responsibilities alongside federal obligations.
Tax Changes for Marital Status
A guide outlining the steps to understand and address the tax implications following changes in marital status, specifically marriage and divorce. It provides an ordered process to update tax information and filing status to ensure compliance with tax laws.
Tax Planning for Life Events
This playbook outlines the steps to assess and adjust tax planning strategies in response to major life events such as having a child, purchasing a home, or retiring. These events can significantly affect one's tax obligations.
Understanding Tax Brackets
This playbook provides a step-by-step explanation of tax brackets, how they function, and the way they relate to different levels of income. It is designed to educate taxpayers and help them navigate their financial planning more effectively.
Year-Round Tax Planning
This playbook outlines strategies for maintaining and organizing financial records and documents throughout the year to streamline the tax filing process. The goal is to ensure efficient record-keeping practices that lead to a simpler and more accurate tax filing season.
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