Ielul Martinez Income Tax Services
Solutions for your personal income tax and/or business income tax needs.
Information and documents required for all services:
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Identification.
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Social security number.
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Proof of insurance (form 1095).
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Address.
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Phone number.
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Bank and bank rout.
Income Tax Services
SCH A FORM
Figure your itemized deductions. In most cases, your federal income tax will be less if you take the larger of your itemized deductions or your standard deduction.
Aditional information and documents required:
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Medical expenses receipts.
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DMV Fees (call cars total).
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Mortgage Interest (form 1098).
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Property taxes (maybe be on form 1098).
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Receipts of donations.
SCH C FORM
To report income or loss from a business you operated or a profession you practiced as a sole proprietor. An activity qualifies as a business if: Your primary purpose for engaging in the activity is for income or profit.
Aditional information and documents required:
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Income forms: 1099-nec, 1099-misc, 1099-k.
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Bank statement (3 months at least).
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Cash receipts (with totals).
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Expenses receipts (categorize and with totals).
SCH D FORM
For the sale or exchange of a capital asset not reported on another form or schedule. Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit.
Aditional information and documents required:
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Bank forms 1099s.
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Investment forms 1099-int.
SCH E FORM
To report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in real estate mortgage investment conduits (REMICs).
Aditional information and documents required:
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Form 1099.
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Income receipts.
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Expenses receipts. (categorize and with totals).
W-7 FORM
To apply for an IRS individual taxpayer identification number (ITIN). You can also use this form to renew an existing ITIN that is expiring or that has already expired.
Aditional information and documents required:
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Birth certificate and identification (both current original), or passport (current and original).
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If its for dependents, proof of residency (school letter, rent agreement, bank statements). statements).
W-4 FORM
To complete Form W-4 so that your employer can withhold the correct federal income tax from your pay. Consider completing a new Form W-4 each year and when your personal or financial situation changes.
Aditional information and documents required:
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None
1099-NEC FORM
To report nonemployee compensation.
Aditional information and documents required:
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Name.
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Social security number.
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Address.
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Amount paid.
1040 FORM FORM
Personal federal income tax returns filed by United States residents. The form calculates the total taxable income of the taxpayer and determines how much is to be paid or refunded by the government.
Aditional information and documents required:
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None.
EIC FORM
After you have figured your Earned Income Credit (EIC), use Schedule EIC (Form 1040 or 1040-SR) to give the IRS information about your qualifying child(ren).
Aditional information and documents required:
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Birth certificate.
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School record, id, grades.
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Immunization record.
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Medical letter 1095-A.
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Rent agreement.
CTC FORM
Child Tax Credit (CTC),
this tax credit helps offset the costs of raising kids.
Aditional information and documents required:
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Birth certificate.
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School record, id, grades.
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Immunization record.
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Medical letter 1095-A.
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Rent agreement.
8863 FORM
To figure and claim your education credits, which are based on qualified education expenses paid to an eligible postsecondary educational institution. There are two education credits. The American Opportunity Credit, part of which may be refundable. The Lifetime Learning Credit, which is nonrefundable.
Aditional information and documents required:
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Education expenses receipts.
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School tuition form 1098-T.
2441 FORM
If you paid someone to care for your child or other qualifying person so you (and your spouse if filing jointly) could work or look for work, you may be able to take the credit for child and dependent care expenses.
Aditional information and documents required:
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Name.
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Address.
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Phone number.
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Amount paid
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Child care information.
