by 卡塔尔世界杯常规比赛时间 research
every year, tax clients need to tell their tax preparer about tax-related changes in their lives. you’ll need to know about some of these changes before clients gather their relevant documents.
here’s a list of 10 you’ll want to send everybody in early january.
1. marriage or divorce
a change in marital status affects filing status, potential deductions, and eligibility for credits. child custody matters. marriage or divorce may also require name or address updates with the irs.
2. having or adopting a child
a new dependent could qualify clients for credits like the child tax credit, child and dependent care credit, or adoption-related tax benefits.
3. buying or selling a home
changes in home ownership may affect mortgage interest deductions, property taxes or capital gains taxes on home sales. tell clients what documents they will need to provide.
4. starting or closing a business
income from a new business, deductions for expenses, or changes in self-employment tax responsibilities should be reported. clients need to know the rules for home-based businesses.
5. retirement or job change
changes in income sources, such as new employment, retirement income or unemployment benefits, can affect tax liability. tell clients what documents they will need to provide.
6. moving to a new state or country
relocation can lead to state tax implications, eligibility for moving expense deductions, or foreign income reporting requirements. if they will be engaging a new tax preparer, offer to help with the transition.
7. significant change in income
increases or decreases in income may impact tax brackets, estimated tax payments or eligibility for certain credits and deductions.
8. health-related changes
major medical expenses, enrolling in a health savings account (hsa), or purchasing insurance through the marketplace may have tax implications. urge clients to keep track of bills and other documents.
9. inheritance or large gifts
receiving an inheritance or making/receiving large gifts could have estate or gift tax consequences.
10. education or tuition payments
enrolling in college, paying for education expenses or taking out student loans may qualify for education credits or deductions.
these life changes often have complex tax consequences, so it’s essential for clients to communicate early in the season to ensure accurate, timely tax preparation and avoid surprises. if clients need certain irs forms, do them a favor and send them the forms as soon as you know what they need. also, each of these tips could be a topic for a newsletter or blog.