If you earn income, you must file a personal tax return Long Island NY. All those forms can be confusing the first time you file, so it’s helpful to have someone who can walk you through the process. Here are the steps you need to make sure your return is filed properly.
1. Find a Trusted Accountant
The best person to guide you through filing your return is a tax professional. Certified public accountants have the necessary experience to take you smoothly through the process. They can help you make sure that you have all the documents you need and may even be able to find deductions you may miss, which lowers the amount of tax you owe.
2. Gather Your Documentation
Before you go to your accountant’s office, collect all the documents you need to file. This includes all statements of income, such as:
- Savings or investment income statements
If you are making house or student loan payments, you also need statements of the interest you have paid on those loans. Newly married filers may need to fill out other forms if they have moved (Form 8822) or changed names (SS-5). If you are planning on taking the standard deduction, you don’t need extra documentation. If you are itemizing, however, you need receipts that prove the amounts you are deducting.
3. Meet With Your Accountant
Organize your documentation and deliver it to your accountant. Unless your return is quite simple, he or she will likely keep your information and contact you when the return is ready to sign and file. Once you have done that, all you have to do is pay the taxes you still owe or wait for your return.
When you need to file a personal tax return, consider hiring someone to help. CPAs assist by answering your tax-related questions, making sure you have the proper documentation and making recommendations to get the biggest refund possible.