Tax Preparation, Tips, Preparers, Dates to Know, Deductions

Tax Preparation, Tips, Preparers, Dates to Know, Deductions

Wednesday, 07 February 2007

The City of Round Rock, along with Community Tax Centers is offering free income tax preparation by IRS-certified volunteers until April 16. The tax services are free for families who make $50,000 a year and individuals making $25,000 a year. The tax preparations will be Monday, Tuesday, Thursday from 5 p.m. to 8 p.m., Friday from 9 a.m. to noon, and Wednesday from 10 a.m. to 2 p.m. at the Allen R. Baca Center. For more information, call 218-5499.

Other locations are at Goodwill Headquarters near US 183/IH 35 and WorkSource near Highland Mall.

Turbo Tax will help you prepare your taxes and can be found online at www.turbotax.inuit.com or in most office supply stores and retailers. Prices range from $19.99 to $99.99.

Common Income tax preparation errors

Round Rock CPA David Conrad advises people to slow down and read instructions carefully to avoid confusion and tax mistakes.

• Don’t forget to sign each form with the name on your social security card.
• Make sure to use the correct social security number when filing out your return.
• You can only claim yourself once. Parents of teenagers or first-time filers can not claim them as dependents if they claim themselves.
• Remember to file last years return if you filed for an extension last year.
• If you made money in another state this year, don’t forget to file your tax return in that state.
• Need a CPA? Don’t wait till the last minute to schedule an appointment.
• If you are unsure about completing your taxes on your own, seek help. Visit www.irs.gov or call the local office at 499-5127.

Tax Tips from a Certified Public Accountant

Avoid refund loans if at all possible. The interest rates are usually high and electronic filing can yield a refund in as little as 10 days.

If you are planning on using a tax preparer, be sure to ask up front for the total cost. Most tax services make their money in hidden fees, so ask.

Remember to keep your tax returns on file. If you are called up to be audited, you will need those records. Some preparers won’t keep them, it’s important to ask if they will.

Tax Preparation Services

Local Certified Public Accountants

• Ross Buchholtz, CPA, 116 E. Main Ave., Round Rock, TX, 512-388-7617
• Crow MacKey & Co., 1516 E. Palm Valley Blvd., Round Rock, TX, 512-255-7110
• David W Conrad, CPA, 209 Round Rock Ave., Round Rock, TX, 512-255-7527
• Jeff Monzingo, CPA, 203 N. Railroad Ave., Pflugerville, TX, 512-251-5668
• Duane Blakeslee, PC, 203 N. Railroad Ave., Pflugerville, TX, 512-251-5611
• Liberty Tax Service, 117 E. Pecan St., Pflugerville, TX, 512-670-9200`
• Hammond & Zatopek, PC, 201 W. Bagdad Ave., Round Rock, TX, 512-255-6700
• Versatile Tax Services, LL, 3000 Joe Dimaggio Blvd., Ste. 76, Round Rock, TX, 512-535-7332
• Tax Express!, 1901 E. Palm Valley Blvd., Ste. 217, Round Rock, TX, 512-255-2077

Jackson Hewitt Locations

• Corner of CR 122/Redbud and Hwy. 79, 4500 E. Palm Valley Blvd., Ste. 128, Round Rock, 512-255-9111
• New HEB Plus on Hwy. 79, 1700 E. Palm Valley Blvd., Round Rock, 512-926-3278
• Cambridge Square on Hwy. 79, 900 Palm Valley Blvd., Ste. 1010, Round Rock, TX, 512-55-9322
• Wal-Mart, 2701 S. IH 35, Round Rock, TX, 512-255-2679
• Inside Pflugerville Office Park, 1202 FM 685, Ste. A3, Pflugerville, TX, 512-251-0212
• Corner of FM 1825/Springhill Lane, 15608 Spring Hill Lane, Ste. 111, Pflugerville, TX, 512-251-8639
• At FM 1825 in HEB Shopping Center, 1420 Wells Branch Parkway, Pflugerville, TX, 512-926-3278

H&R Block Locations

• 1406 FM 1825, Pflugerville, TX, 512-251-6588
• 2601 S. IH 35, Ste. C200, Round Rock, TX, 512-341-9221
• 110 N. IH 35, Ste. 140, Round Rock, TX, 512-255-0690
• Wal-Mart Supercenter, 4700 E. Palm Valley Blvd., Round Rock

County Tax Assessors

Travis County Tax Assessor’s Office, 5501 Airport Blvd., Austin, 512-854-9473

Williamson County Tax Assessor’s Office, 904 S. Main St., Georgetown, 512-943-1601

Dates to Know

March 15 - Corporation tax returns are due.

April 16 - Income tax returns are due, along with extensions and first estimated tax payments for self employers for the 2007 tax season.

1040 EZ

Who qualifies for the 1040 EZ:

• Students who are not dependents
• Apartment dwellers
• You or spouse are under 65
• You have no dependents
• No adjustments (no deductions)
• You earned under $100,000 this year

If Claiming Specific Deductions File a 1040 Form

Possible deductions on 1040:

• Sales tax deductions
• Earned Income Credit
• Child Tax Credit
• $250 expense deductions for teachers
• Tuition deduction for students or parents

For tax tips and advice, several other Web sites are available. You can visit turbotax.inuit.com, hrblock.com or jacksonhewitt.com for more information to make tax time less stressful.

For more information on deductions, visit irs.gov.