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· States -
Prepare and file your state return for all states with an income tax. |
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REPORT: |
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· Unemployment
Compensation |
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· Interest &
Dividends |
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· Refunds of State and
Local Taxes |
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·
Sale of Your Home |
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· Standard Deduction
or Itemized Deductions - Should you itemize? Enter your medical and
dental expenses, your state and local income taxes, your real estate and
personal property taxes, your home mortgage and investment interest, your
charitable contributions, your casualty and theft losses, your job expenses,
and other miscellaneous deductions. The program will choose the option that
reduces your taxes or increases your refund. |
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· Employment Taxes
for Household Employees - Household employees include housekeepers,
maids, baby-sitters, gardeners, and others who work in or around your
private residence as your employees. |
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· Alimony Paid or
Received - You may deduct the
alimony or separate maintenance payments you are required to make to your
spouse or former spouse, or to a third party on behalf of that spouse.
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· Capital Gains and
Losses - Almost everything you own and use for personal or
investment purposes is a capital asset. Examples are your home, household
furnishings, and stocks or bonds held in your personal account. When you
sell a capital asset, the difference between the amount you sell it for and
your basis, which is usually what you paid for it, is a capital gain or a
capital loss. |
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·
Moving Expenses -
If you moved because
of a change in your job location or because you started a new job, you may
be able to deduct your moving expenses if your move is closely related to
the start of work. |
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·
Estimated Tax -
The federal income tax
is a pay-as-you-go tax. This means the tax must be paid on income as it is
received. Tax is generally withheld from your wages or salary before you
receive it, and may also be withheld from other types of income such as
pensions and unemployment compensation if requested. However, tax is
generally not withheld from income such as alimony, interest, dividends,
rental income, self-employment income, and capital gains. We will use
the safe harbor rules to prepare estimated tax vouchers for the 2006 tax
year.
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