PDF Your 1040 for 2017 Where to start Gathering your information calculating your income and determining your individual income tax filing status William C Robison 9781977087799 Books

Download As PDF : Your 1040 for 2017 Where to start Gathering your information calculating your income and determining your individual income tax filing status William C Robison 9781977087799 Books

Taxes are complicated. How are you supposed to know if you need to file? Sure, the IRS has charts that tell you this, but it is based upon things like unearned income and filing status. They donâ€™t teach you those things in school. How can you figure these things out? Iâ€™ve been doing taxes for people for a while. Based upon my experiences, I decided to write this book to explain the basic steps that you need to go through before you even begin to file your taxes. This step by step guide will make sure that you do not miss anything important when you begin the process to efile your taxes. You will also find this book helpful if you are going to paper file your taxes or go to a tax professional. This information is not easy to find anywhere else. For example, in the instructions for the 1040ez, the checklist does not appear until page 7. And this is for the "easy" form! There is already an IRS publication, Publication 17, that that tries to explain the process of preparing to file your taxes. But that publication is 290 pages long and still does not put the steps in the correct order. Even CPAs like me do not read the publication unless we have to. However, this e-book is more concise, and in it I will walk you through the steps you need to help you figure out What information do you need to gather before you start filing your taxes? What is your marital status? What is your gross income? Are you a dependent? Do you have any dependents? What is your filing status? Do you even need to file a return? This book will show you how to get started on your income taxes. I do this by putting the basic instructions in the correct order, and then explaining each step. Even if you end up going to a tax professional, at least you will know why you did. The book covers the documents that you will need to gather before you can file your taxes, including W-2 Showing your wages from your job; 1095 Showing your Health Insurance coverage for 2017; 1098 Showing potentially tax-deductible Interest and related expenses; 1099-B Showing income from the sale of stocks and bonds; 1099-DIV Showing dividend income; 1099-G Showing Unemployment Compensation or other taxable income from the government; 1099-INT Showing Interest Income; 1099-MISC Showing several different types of miscellaneous Income; 1099-R Showing distributions from an IRA account or pension; SSA-1099 Showing Social Security Income. Gathering your documents is the necessary first step. I have worked with too many clients who have had to redo or amend a tax return because they forgot an important piece of paper. Doing this prep work can save you a lot of time and trouble. The book also covers Alimony paid and received; child care expenses; self-employment; rental property; health insurance premiums; Tax overpayments; Income you received from any job that did not send you a W-2 or 1099-MISC; Unreported tips; W-2G showing your gambling winnings; 1097-BTC Bond Tax Credit; 1099-A Showing Income from abandoned property; 1099-C Showing Income from cancelled debts; 1099-K shows electronic business receipts; 1099-LTC shows long term care benefits; 1099-S Shows proceeds from the sale of real estate; 1099-SA Showing distribution from a Healthcare savings account; RRB-1099 Showing Railroad retirement benefits; K-1 pass thru income statement for partnerships and S Corps.