Tax Preparation Dubuque

Tax preparation in Dubuque, Iowa does not have to be difficult. You know it is coming the same time every year. Even if you happen to forget, the different tax services usually begin advertising on television right after the New Year’s holiday. As a matter of fact, once January rolls around, get yourself into the habit of putting all the receipts and documentation you will need to complete your taxes aside. This way you will know where they are before you start. Save yourself a lot of time and energy by skipping the frantic house searching. W2s and other financial documents will be the last things you receive before you can begin completing your income tax return. Keeping your other documents added and in order will limit the time you need to spend rushing to get your return done on time.

Where Do I Begin?

Once you have all your documentation ducks in a row, you may begin to wonder how your Tax preparation begins. Have you even selected the method you are going to use to file your income tax return? If you are looking for the quickest processing and refund possible, you will likely want to choose the e-file method. If you know your way around the computer and can understand what is asked of you to file a tax return, you may want to choose the online or software method. However, you will need to keep in mind that tax advice may not be provided through these services without an additional cost. If you want to avoid the cost, you may need to place a call to the IRS or other entity to get your question answered. You could end up waiting a long time depending on when you decide to call. Should you choose this method, the earlier you call, the better. It is safe to say that you may not get through a few days or even a week before the filing deadline.
Tax preparation can definitely be made easier by choosing the local tax service or accounting method. Simply make an appointment and show up with the appropriate paperwork and documentation, and your advisor will sit with you and discuss every possible deduction. There should be no question what you can include and what you cannot. If you have done a good job with your preparation work, your tax return will likely be able to be filed with one visit to the office. If you require more documentation, it could take another visit or two.

Taxes Filed, Now What?

You may think your Tax preparation is completed once your return is filed. Well, you could be wrong. If you have e-filed, you will be looking for a confirmation email that the state and federal government has received your completed return. Once this is received, you can rest knowing that you have successfully filed for another year. You may also receive another email telling you that your return is about to be processed. Depending on the type of service you used to file your taxes, you may also receive a notification of when you can expect your refund, should you have one due.

Once you have received your refund either by mail or direct deposit, you can safely assume your Tax preparation is done. However, if you do not have a refund to look forward to and you owe money, you are not finished until your return is filed and your payment is sent. If you have e-filed, your program or service will likely instruct you where to send payment. You can likely send a written check or pay by debit or credit card. Money orders or cashier’s check are likely acceptable, too.

Donations

If it is your first time going through Tax preparation, you may be surprised to learn that you are asked towards the end of your return if you would like to donate to the next presidential election. It may seem like an odd question to ask, but the funding has to come from somewhere, right? There may even be some chances to donate to certain environmental charities as well, depending upon which state you live in. Perhaps the world might be a better place if they included food pantries and medical institutions in these donation opportunities.

How Much Does It Cost?

There is usually no guesswork involved in completing your tax return online or with a major tax service. Your cost is usually known upfront going into the service, You get what you pay for online by the type of program you choose. However, the free version is only free if it includes your state e-filing. Many online tax services can be tricky if you do not read the fine print. There is usually a small asterisk saying you will pay extra to file your state return. However, if you do your homework by Googling a completely free tax return, you will come across the free services that include the state in which you reside.

Brick and mortar versions of the major services usually have television commercials running right after New Year’s. Local CPA firms and accounting services are usually different, as most have costs for time by the hour. Additional fees for extra tax documents and work may also apply. This is likely something that can be discussed from the very first phone call made to schedule the appointment.
Need help with your Tax preparation in Dubuque, Iowa? Contact the professionals at Buchheit Tax today to find out more about how we can serve you.