For personal tax returns, provide W-2s, 1099s, bank and brokerage statements, mortgage interest statements, charitable donation receipts, and medical expense records. For corporate tax returns, provide income statements, balance sheets, payroll records, expense receipts, and details of any assets purchased or sold.

To maximize deductions and credits, keep thorough records of all deductible expenses and stay informed about available tax credits. Common deductions include mortgage interest, medical expenses, charitable contributions, and business expenses. A CPA can help identify and document all eligible deductions and credits.

The standard deduction is a fixed amount set by the IRS that reduces your taxable income. Itemized deductions allow you to list eligible expenses individually, such as medical expenses, mortgage interest, and charitable donations. Choosing the method that offers the highest deduction amount is key, and a CPA can help determine the best option for your situation.

Estimated tax payments are periodic payments made to the IRS on income not subject to withholding, such as self-employment income. You need to make these payments if you expect to owe $1,000 or more in taxes when your return is filed. A CPA can help calculate the required payments and ensure timely filing.

Personal tax returns are typically due by April 15th. Corporate tax returns for C corporations are due by the 15th day of the fourth month following the end of the corporation's fiscal year, usually April 15th for calendar year corporations. S corporations and partnerships must file by March 15th. Extensions may be available if needed.

Callison CPA can represent you during an IRS audit, helping to gather and present necessary documentation, communicate with IRS agents, and negotiate on your behalf. We’ll help ensure you comply with all requirements and work to minimize any potential penalties or adjustments.

Yes, we can assist with preparing and filing both federal and state tax returns. We’ll ensure compliance with all relevant tax laws and regulations, help you understand state-specific deductions and credits, and manage multi-state filings if necessary.

Filing taxes early can help you receive your refund sooner, reduce the risk of identity theft, allow more time to gather necessary documents, and give you time to address any issues that may arise. It also provides peace of mind and helps avoid the last-minute rush.

If you can’t pay your tax bill in full, the IRS offers several options, including installment agreements, offers in compromise, and temporary delays in collection. We can help you explore these options, negotiate with the IRS, and develop a plan to manage your tax debt.