All Taxing Matters

The time has come to collect your 2023 tax information. The following list is to remind you of the forms and papers you will need to properly file your 2023 taxes. We are here to assist you. Do you have Tax Questions? At T.A.X.E.S. we have Answers!

PERSONAL TAXES

• W-2’s from your employer and 1099-NEC’s from self-employment.
• 1099 Social Security and 1099-R’s statements for retirement income.
• 1099’s interest and dividend forms.
• Contributions to IRA’s and HSA’s.
• Childcare expenses and 1098-T tuition payments for credits                               
• Brokerage statements and K1’s received.
• “New” Home energy and EV electric car credits documentation.
• Med expenses, Mtg. interest, RE taxes, and Charity total must exceed standard deduction.
• Child Tax Credit needs proof of residence. School, Doctor, and Childcare records etc.

BUSINESS TAXES

• Self-employed and rental owners, list income, expenses, and new assets.
• 1099-NEC’s and1099-Ks received. Track business mileage and home office costs.
• Self-employed can deduct their health insurance premiums.

REMINDERS

• You can max-out HSA and IRA contributions by April 15, 2024.
• If you got a 1099-K for funds you received in 2023, it must be reported on your tax return.
• Starting at age 73, RMD’s for IRA’s and 401-K’s withdrawals are required.
• Did you receive or sell a digital asset? The IRS requires Cryptocurrency reporting.
• Deadline is April 15 without an extension. Extension to October 15 but taxes are due April 15.

When you have all the papers required for filing, we can help provide easy tax solutions.

There are many more taxing matters for the 2024 tax season. In the future read more at Alltaxingmatters.com.

Bruce Bevan AFSP, Owner of T.A.X.E.S.
513-897-1040
bruce@your1040tax.com