Individual Income Tax Preparation

What to bring list?

With the ever-changing tax laws, preparing an income tax return has become more and more complex.  At SCL Tax Services, as Enrolled Agents and Annual Filing Season Participants, we are required to meet annual education requirements, but we strive far above the regulated requirements. In addition, since our office is open year round, we service those seasonal tax office clients who can’t get in touch with their preparers once the season is over. We use our vast knowledge and experience to assist you in legally minimizing your tax liability.

Preparing your tax return at year end is only half of the equation. To really maximize your tax savings, tax planning is a must! You can also learn about tax due dates and read our tax planning strategies blog post to help you gain more information as to how you can plan your taxes. It should be noted that careful tax planning can save you hundreds or thousands of dollars, so it’s definitely worth the consultation. We can offer the tax preparation help you need.

Always remember that good advice doesn’t have to be expensive. However, bad advice will almost always cost you dearly, no matter how little you paid for it.

Amendments – Prior Year Returns

Amendments are corrections to an originally filed return. At SCL, we can review your last 3 years of filed tax returns at no charge to find any additional deductions or unclaimed credits. We offer this service to all new clients and we routinely file amendments to claim missed deductions and tax credits resulting in additional refunds. We will also point out preparer errors, miscalculations or missing information that we find. Take advantage of our free tax service by contacting us today.

Tax ID Numbers – ITIN’s- Individual Tax Identification Number

Individuals that are not eligible for a social security number can apply for an ITIN. We will take you through the entire process from start to finish. You must have identifying documents to prove both foreign status and identity. A valid original passport is the only stand-alone document that will prove both identity and foreign status. We are Certifying Acceptance Agents, so we can certify your identifying documents right in our office. There’s no need for you to mail in your documents or have them certified elsewhere (at the consulate). Start the process today by calling our tax firm to make an appointment.

Back Taxes and Unfiled Tax Returns

Sometimes, life events cause you to miss the filing dates to file your income tax returns. As time goes on, you might lose your documents or maybe you’ve become afraid to file. At SCL, we can take the pressure off by obtaining transcripts to find all the documents you need to file your unfiled returns. We are here to help. Take the first step and contact our office.

Wage and Income Transcripts

Don’t have your W2’s or income statements? No need to worry, we can obtain your Wage and Income Transcripts from the IRS. This is a statement from the IRS with all the information they have reported under your social security number or ITIN.

State Filings

Residents of most states will have a state filing requirement if you are required to file a federal tax return. States without an individual income tax are Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Residents of New Hampshire and Tennessee pay income tax on dividends and income from investments.

Part Year Resident and Non-Resident State Filings

If you’ve moved in or out of any state in the filing period or worked in a state other than your resident state, you may be required to file multiple state returns. We can help you with these tricky state filings. We are waiting to hear from you!

Tax Planning

Every tax situation is different. Once we complete your taxes we will help you develop simple tax strategies for the following year to attempt to reduce your tax liability while remaining true to the tax code. We can also help with more complex strategies or planning for life events using our tax planning software during our off season.

FBAR Filing (Foreign Bank Acct. Reporting)

If you are a taxpayer with a foreign bank account or foreign trust with an aggregate value of $10,000 or more at any one time during the filing season, you must report this to the IRS. Although this is not a taxable item, strict penalties for non-filers will be assessed. We can assist you with remaining compliant and obeying the law.

Common Life Events That May Affect Your Taxes

  • Receiving Bonuses
  • Change of Employer or Profession
  • Collecting Unemployment or Social Security Disability
  • Buying/Selling a Home
  • Opening a Business and Becoming an Independent Contractor
  • Getting Married or Divorced
  • Starting a Family
  • Going to School
  • Retiring and Withdrawals from a Retirement Fund
  • Buying/Selling Investments and Investment Property
  • Winning the Lottery and Prizes
  • Giving and Receiving Gifts
  • Inheritances
  • Estate Planning
  • Casualty and Loss Deductions

Contact Our Tax Firm for a Free Tax Consultation

SCL Tax Services helps clients in and near the Bronx, Eastchester, Westchester, Mount Vernon, and Yonkers, NY with the best tax services such as accounting, bookkeeping, tax preparation, tax resolution, payroll, tax return and refund, tax ID number, etc. You can call us and ask for a free 15-minute tax consultation or make an appointment and see one of our tax experts as soon as possible.