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Tax Preparation for 2021

Are you ready for the next tax season? 2020 flew by us and is already time for the new year.

I would like to give you a few tips on how to get your paperwork ready and organized to make your life easier when is time to file your taxes. The IRS deadline for companies to send out W-2s and 1099 to their employees and contractors is January 31st, so please make sure that you received all your income reports before scheduling your appointment. You may also need to bring your mortgage statement (1098), college or student loan statements and health insurance statement (1095) if you had insurance with a subsidy of the Affordable Care Act (Obamacare).

Not bringing all the necessary documents to you tax preparation appointment can cause delays on the process and even put a hold on your refund if the documentation is missing.

We have a detailed check list to help you make sure to be prepared and make the tax preparations process as easy as possible.

Contact us and we will provide you with all the information needed.

International Students F1 can declare TAX?

 

Even though most international students don’t need to report income tax, if there are living in the US and meet the substantial presence test they must file exemption form 8843 to avoid having to report global income in the US as a resident.

However, if the international student worked as part of his program or had any other income source in the US during the year he must report and pay the applicable taxes.

To know more about the US requirements for international students please contact us.

Tips to Save Money in 2021

 

There is no better time than now to start your financial planning for 2021 and learn how you can save money on your taxes and plan for your future.

Creating a budget is a great way to take control of your money and save for the big dreams. Without a plan money comes and goes without a purpose and we end up with empty pockets.

There are many aspects in life that we need to plan for, such as buying a house, kids college, retirement and also for that very exciting vacation.

Schedule a free consultation we can help you get organized and conquer your dreams.