The Help You Need When Preparing Your Taxes

Published 02/26 2014 12:17PM

Updated 02/27 2014 09:36AM

Marty Evans, Tax Preparation Manager from Mountain America Credit Union gives you some basic advice for tax season.

What are the advantages of using Mountain America Tax Services?
  • * Truly free 1040 EX returns
  • * Competitive pricing — 30% or more cheaper than most retail tax preparation firms
  • * No appointment necessary
  • * Free e-filing with preparation of your tax return
  • * Drop off option available
Where can I go for help with my taxes?
  • * Mountain America has 25 branches along the Wasatch Front to help make tax preparation easy and convenient
  • * Visit for a listing of Mountain America Tax Services locations or to schedule an appointment with a tax services representative
What documents should I assemble in order to have a tax return prepared?
  • * Items that represent the income and deductions you had during 2013. See the attached checklist, which can also be picked up at a local Mountain America Credit Union branch
  • * For Income: W-2s, 1099s, Income statements, K-1s, small business records (mileage, travel, supplies, labor, etc.)
  • * For Deductions: Educator expenses, IRA contributions, mortgage statements, charitable contributions and medical expenses
  • * For Credits: Tuition statements, 1098T, child care payments, EIC documents, support docs for children of divorced couples
What tax benefits are available for students?
  • * Hope Credit
  • * Lifetime Learning Credit
  • * Tuition and fee deduction
How do I itemize my deductions?
  • * Combination of expense paid last year. The expense categories are: medical, taxes paid, mortgage interest paid and real estate taxes paid
  • * Charitable contributions made by cash and non-cash, work related expenses, investment expenses, tax preparation fees and more
What can I do now to affect last year’s tax return?
  • * IRA Contributions. Traditional depending on if you are covered by a 401K plan at work or not
  • * In many circumstances a $5,000 IRA contribution will create a $1,500 tax benefit between the Federal and State agencies. A great benefit for those who qualify. You have until April 15, 2014 to make the deposit
How do I qualify for an extension?

  • * File form 4868 with the IRS gives you an automatic six month extension as long as you have paid 90% of your final tax liability
  • * This is not an extension to pay your tax liability

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