All Taxing Matters

Do you have Tax Questions? At T.A.X.E.S. we have Tax Answers!

Here are some items to collect for your 2024 taxes:

PERSONAL TAXES
• W-2’s – Provide proof of child’s residence (Child Credit) – 1095-A-B (Affordable Care Act)
• 1099R’s (Retirement) -1099 INT (Interest) – K-1’s (Estates, Partnerships and S-Corps)      
• Brokerage statements (Stock Sales) – IRA (Contributions) – 1099-S (Home Sale)
• 1099-SA (Social Security) – HSA (Contributions and Distributions) -1098-T (College)
• Sch-A  Requires – Major Medical Expenses – RE Taxes – Mtg. Interest – Large Charity Gifts. You may be able to download the forms from your company or an agency.

BUSINESS TAXES
• 1099 NEC’s – 1099 MISC’s – Business Income and Expenses
• Rental Income, Expenses and New Assets – Farm Income, Expenses and New Assets
• Mileage log to receive 67 cents per mile – Home Office information – SEHI (Health Insurance)

REMINDERS   
There are tax items you do not want to overlook on your 2024 tax reporting and preparation.
• IRA and HSA contributions can be made up to April 15, 2025
• If you receive a 1099-K in 2024, it must be reported on your tax return
• If you are 73 or older, you must take money out of your tax deferred IRAs and 401Ks
• Did you receive or sell a digital asset? The IRS is requiring Cryptocurrency reporting

There are many more taxing matters for the 2025 tax season. Now is the time to consider planning for your 2024 taxes. In the future read more at Alltaxingmatters.com.

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