fREQUENTLY ASKED QUESTIONS
Our FAQ section should provide you with some of the most commonly asked questions. If you do not find something you looking please get in touch.
How do I know if I have to file a tax return?
Whether you're required to file a tax return will depend on several factors, including your gross income, filing status, age, and whether you're a dependent on someone else's federal income tax return. And you may have to file even if you don't owe any tax.
What filing status should I choose?
Tax filers are treated differently based on household status. To inform the IRS of which rules apply to you, you'll have to choose a filing status. There are five: single, married filing jointly, married filing separately, head of household and qualifying widow(er) with dependent child.
Your filing status affects your tax rate, standard deduction, and eligibility for certain deductions and credits. The IRS provides an interactive tool to help taxpayers choose a filing status.
Your filing status affects your tax rate, standard deduction, and eligibility for certain deductions and credits. The IRS provides an interactive tool to help taxpayers choose a filing status.
Do I have any dependents?
A dependent is a person you're responsible for supporting. If you can claim a dependent, you can become eligible for certain tax breaks, including the child tax credit. You may also qualify for head-of-household status.You may have a dependent if ...
• You have a qualifying child younger than 19, or under 24 if they're attending school full time. Your child must either live with you for more than half the year - or qualify for an exception - and must not provide more than half their own support.
• Your child also can't file a joint tax return, except to claim a refund.You have a qualifying relative. Your qualifying relative either has to share a specific family relationship with you or must live with you all year long. You must provide more than half their support, they must earn very little, and they can't be claimed as a dependent by anyone else.
What are some deductions and credits I can claim?
The deductions and credits you're eligible to claim vary depending upon your situation.
What income do I have to pay taxes on?
According to the IRS, income includes money, property or services. Any income is taxable unless the law specifically exempts it, and all taxable income must be reported on your tax return. Some nontaxable income must be reported, too, even though you won't pay taxes on it.