Tax service
Individual returns
For a person who files a Form 1040. The work covers the return, the schedules that attach to it and the estimated payments paid during the year.
The firm files about 90 individual returns a year.
What is included
The work is the return and the records behind it. The schedules follow the income and the deductions.
Form 1040
The return reports wages, retirement income, investment income, business income and the adjustments and deductions that apply.
The schedules that attach
Schedule A for itemized deductions, Schedule B for interest and dividends, Schedule C for self-employment, Schedule D for capital gains, Schedule E for rental income and Schedule SE for self-employment tax, when the return needs them.
The income check
W-2 withholding, 1099 income and K-1 income are checked against the return.
The estimated payments
The four payments made during the year are applied to the return. The next year's payments are set from the same numbers.
The prior-year carryovers
The carryovers from the prior return are checked against the current year. A loss or a credit is carried from one year to the next.
A copy for your records
A copy of the return and the schedules for your records.
How it runs
The work runs from the records to the signed return.
You send the records
The W-2s, 1099s, K-1s, the prior return and the records for the deductions you claim.
We prepare the return
The return is prepared from the records. The questions the records raise come to you before the return is signed.
You review and sign
You review the return and the schedules. You sign the return before it is filed.
The return is filed
The return is filed after you sign it. The estimated payments for the next year are set at the same time.
The year and the return
The return covers one calendar year. The records for the year are the source for every line.
The prior return is the starting point for the carryovers. The current records are the source for the income and the deductions. The estimated payments are applied to the year they were paid.
Due dates
The dates below are the federal dates for a calendar-year return.
- April 15
Form 1040
The return is due April 15. An extension moves the filing date, not the tax.
- October 15
Extended Form 1040
An extension moves the filing date to October 15. The tax is still due on April 15.
- April 15
First estimated payment
The first estimated payment for the year is due April 15.
- June 15
Second estimated payment
The second estimated payment for the year is due June 15.
- September 15
Third estimated payment
The third estimated payment for the year is due September 15.
- January 15
Fourth estimated payment
The fourth estimated payment is due January 15 of the following year.
How we work
You will know where your return stands, and what the books say.
One person owns your file, from the first call to the filed return.
Every answer we give you is in writing, so you still have it next year.
Common questions
- What if I have business income?
- The business income and expenses go on Schedule C. The self-employment tax goes on Schedule SE.
- What if I sold investments?
- The gains and losses go on Schedule D. The prior-year carryovers are checked against the current year.
- What if I own a rental property?
- The rental income and expenses go on Schedule E. The depreciation schedule is part of the records.
- What if I missed an estimated payment?
- The payment can still be made. The return computes the penalty and interest that apply.
- What records do you need?
- The W-2s, 1099s, K-1s, the prior return and the records for the deductions you claim.
Next step
Start with the year and the records you have. The return is prepared from there.