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Taxes & Individual Services

Tax Preparation

At Jordan Finances, we'll look at your goals, and help you create long and short-term strategies to make the most out of the ever-changing tax code. Proper tax planning and preparation gives you the power and knowledge to grow your wealth with confidence.

 

No matter how simple or complex your life may seem, taxes never fail to get in the way.  From large to small, every client receives the same quality attentiveness that they deserve from our professional team. It's our job to stay up-to-date on current federal and state tax laws through continuing education and we use our in-depth knowledge of tax codes when we prepare your individual tax returns--so you don’t miss out on any tax credits and deductions that you are entitled to take.

Filling Out Tax Form

How to Prepare

Meet with your tax preparer as soon as possible.  Call us today to schedule your appointment. To make the most out of your time, we've prepared a list of documents and information you'll want to give to your preparer:

 

For new clients:

Last year's tax return, both federal and - if applicable -  state

Social Security Numbers and birth dates for yourself, your spouse, and your dependents. 

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Income Forms:​

W-2 forms - All employers must issue these by January 31. Many employers deliver these electronically, so check your email in addition to your mailbox and get in contact with your HR/Payroll rep if you haven't seen yours by the deadline. 

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1099 Forms - These forms will capture income that you receive from various sources, whether you drove for a ride-share company, sold your art on Etsy, or had income from investments, we'll need all of these forms to compile your return. 

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Deductions:​

Deductions help reduce your adjusted gross income (AGI), which lowers your taxable income. The lower your taxable income, the lower you can expect your tax bill to be.  Gathering these records can take some time, but it can pay off. You don't have to itemize in order to benefit from some deductions. More deductions are available if you itemize expenses on  Schedule A.

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Here are some common tax deductions; your accountant can discuss these in greater detail during a planning session. 

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  • Retirement account contributions

  • Educational expenses

  • Medical bills and post-tax HSA contributions

  • Property taxes and mortgage interest

  • Charitable donations

  • State and local taxes​

  • Rental or business expenses

  • Qualified business income deductions​

  • Self-employed health insurance deduction

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Credits​

Credits provide dollar-for-dollar cuts in any tax that you may owe, but like deductions, you'll need documentation to claim them. 

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Here are some common credits, ask your accountant to see if you qualify for these. 

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  • American Opportunity and Lifetime Learning Credit

  • Child Tax Credit

  • Retirement savings contributions credit

  • Foreign tax credit

  • Child and dependent care expenses 

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Payments:

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If you've made federal estimated tax payments during the year, you should have this information on hand. 

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