By now you should be receiving your tax documentation for preparing your income taxes. Make sure you have your W-2’s, 1099’s for miscellaneous income and for IRA withdrawals, social security statements, mortgage statements showing interest and property taxes. Other items can include student loan documents as well as 529 contributions.
If you have a small business, your paperwork should include a profit and loss statement to accurately report those numbers. Mileage is a BIG deal this year. The IRS is allowing 58 cents per mile driven in 2019. The mileage rate for 2020 has been reduced slightly to 57 cents per mile.
The IRS will begin accepting electronic filing on January 27, 2020.
Please feel free to call me at 317-989-2708 to schedule your appointment or use my website www.pedersonaccountingservices.com and click on the Schedule button. The times I have available are shown there so you can choose the day and time that works best for you.