Tips for Filing Your 2013 Income Tax Return

2013 Tax Filing Date - April 15, 2014It’s that time again.  Tax filing season has just started and since the April 15 deadline was not affected by the government shutdown, now is the time to begin the first step in the process:  gathering your tax documents.

Watch for letters containing tax information in both your mailbox and email’s inbox, as you may have opted for electronic statements with various financial institutions. Also, a copy of your previous year tax return can prove helpful in determining deductible items by looking at what was deductible in a previous tax year

Tax Documents You May Need

  • W-2 Wage and Tax statement.  This shows how much you received from your Employer in wages during 2013, how much of it was taxable, and how much federal tax was already withheld.   If you normally receive a W-2 but have not received it by now, you should contact your Employer right away.
  • 1099-MISC.  If you are an independent contractor you may receive this form from any single company that paid you or your business $600 or more during 2013.  If you didn’t hit the $600 mark for the particular business, you may not receive a 1099-MISC from them, but don’t forget you still have to report this to the IRS!
  • 1099-INT.  Shows the amount of interest income you received during the year.
  • 1099-DIV.  Shows the amount of stock dividends you received during the year.  If you utilized a stockbroker for transactions you may receive Form 1099-B.
  • Charitable Contributions.  You should have some sort of receipt showing what was donated and where the donation was made.
  • Other deductions.  Receipts, invoices, cancelled checks, or other documents for payment of property taxes, mortgage interest, medical expenses and miles traveled for work are a few examples.  Remember, you should always have supporting documentation for any deduction you take.

If you would like a tax attorney of Martello Law Group LLC to prepare or review your return to make sure you are getting all the tax advantages you are entitled to, please give us a call at 352-224-2102.

IRS SHUTDOWN 2013 – Has the Government Shutdown Jeoprodized your TAXPAYER RIGHTS?

Our Firm advocates for Clients facing tax issues – including those with the IRS.  With the Government Shutdown resulting in the closing of the IRS, we have encountered multiple instances of what appears to be violations of our Client’s rights as a Taxpayer. The Taxpayer Bill of Rights was enacted to ensure policies and procedures…

IRS Furlough – An “Extended Vacation” from Servicing Taxpayers

With Memorial Day (Monday, May 27, 2013) coming up, a lot of Americans are looking forward to a three day weekend. But don’t wait until Friday to take care of any issue lingering with the Internal Revenue Service (IRS). IRS employees will be enjoying an additional day of “vacation” on Friday, May 24, 2013. This…


Tax issues and Bankruptcy

Even Heaven Could Not Save Florida Resident from Wrath of IRS

Nowhere to Run, Nowhere to Hide from IRS A Melbourne, Florida man could face up to six years in federal prison and a fine of up to $200,000 after refusing to accurately report his income to the IRS. His reason for not filing, as he told IRS agents, was that he was not subject to man’s laws because he…

This Year, Capitalize on your Capital Gains and Losses

Did you know almost everything you own and use for personal pleasure or investment purposes is considered a capital asset?

Social Security Benefits – Are They Subject to Tax?

You, like many other Social Security recipients may be wondering whether your 2011 benefits are taxable. All Social Security recipients should receive a Form SSA-1099 from the Social Security Administration which shows the total amount of their benefits. You can use this information in addition to the following to determine if your benefits are taxable:…

Tax Tips For 2012

With football season winding down, another season is just starting – Tax Season.  Although watching the college bowl games and NFL playoffs is clearly much more exciting than watching the IRS’s youtube video above, you can stay on top of your “tax game” by following these tips: 1. GATHER YOUR DOCUMENTS you’ll need when filing…

Tax Lady Roni Deutch Gets Slapped with a Large Tax Lien and Forced to Close Firm

You’ve seen them – the loud, obnoxious commercials by “Tax Resolution” companies, promising to settle your IRS tax debt for pennies on the dollar.  These “assembly-line” Tax Law Firms prove true the old adage, “You get what you pay for.” Unfortunately, you are likely to pay more and get less than you bargained for. Ronnie…

Lebron James Haters Quit Hating and Accept the Heat…As a Glorious State Income Tax Haven

On July 8, 2010, much to the chagrin of Cleveland Cavaliers owner Dan Gilbert, the city of Cleveland, and millions of NBA fans, free agent Lebron James announced his decision to play for the Miami Heat.  The controversial move became a media obsession with James agreeing to a less lucrative contract to boost Miami’s ability…

Mobile Users: