The Help You Need When Preparing Your Taxes

The Help You Need When Preparing Your Taxes

What documents should you have? What deductions do you qualify for? Are you a student? Get help with basic tax questions...
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 www.macu.com/taxservices 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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