FOR BREAKING NEWS VISIT www.queenscourier.com january 24, 2013 • THE QUEENS COURIER 29 tax tips s Determining your income tax filing status “Two Decades Of Personalized Service” BY BARRY LISAK end of the year and both you and your Barry Lisak, EA, is an IRS Enrolled spouse must agree to file a joint return. Agent who has operated a tax On a joint return you report your com- preparation office for over 30 years. Any bined income and deductions. You can questions or comments, please contact even file a joint return if one spouse [email protected] or 516-829-7283. had little or no income. The first step to filing your federal 5. If your spouse died during the year income tax return is to determine which and you did not remarry during 2012, filing status to use. Your filing status is you may still file a joint return with that used to determine your filing require- spouse for the year of death. [email protected] ments, standard deduction, eligibility for certain credits and deductions, and 6. If you are married, you may prefer your correct tax. There are five filing to file Married Filing Separately if you statuses: Single, Married Filing Jointly, want to be responsible for your own and Married Filing Separately, Head of tax, or if filing separately results in a H&R Block is offering special discount at Main Street Flushing Office. Household and Qualifying Widow (er) filing married filing separately as manylower overall tax. Be cautious whenwith Dependent Child. Here are some facts about the five fil- tax benefits are lost. One may want to Federal Form Federal Forms ing status options the IRS wants you to discuss this option with a tax advisor. FREE OR $15 off* status for the entire year. of the year.7. Head of Household generallyapplies to taxpayers who are unmarriedor considered unmarried on the last day1. Your marital status on the last dayknow so that you can choose the bestoption for your situation.of the year determines your marital1040 & 1040Atax preparation8. You may be eligible to use2. If more than one filing status1040EZThrough March 15th only, The type of form filed is determined by your personal tax situation and IRS rules and regulations. died in 2010 or 2011 and you have a Photo courtesy THEWHO.comQualifying Widow(er) with DependentChild as your filing status for 2 yearsfollowing the year of death of yourspouse. For example, if your spouse3. 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The advantage of this filinglaw, and you do not qualify for another completion of initial tax office interview or through Block Live and may not be combined with any other offer, discount or special promotion or pricing program. status is that you can use the marriedfiling status. fees for Earned Income Credit and state tax returns may apply. *Void if sold, purchased or transferred, and where prohibited. Coupon must be presented prior to Discount valid only for tax prep fees for an original 2012 personal income tax return for employees of sponsoring company listed above. Current tax year W-2 or other proof acceptable to H&R Block of current employment from the sponsoring company listed above (or its participating subsidiaries) must be presented to be 4 In order to file as Married Filing filing jointly tax rates and the higher eligible for discount. Expires 4/30/13. ©2012 Allstate Tax and Accounting Inc. is a independent owned “H&R Block” Franchisee. Jointly, you must be married as of the standard deduction. TAX INFO CORNER How can the credits may At Gilman Ciocia,you’ll receive contribute to your refund! 25% OFF*By: Javier N. Solis There are only eight days for the stepchild, adopted child, brother, whatever you paid Internal Revenue Service (IRS) starts sister, nephew or grandchild of the your accountant processing individual claims nation- taxpayer. The child must have lived last year. And that’s wide. No person is free of this tax lia- more than six months with the per- bility and that is why you dear reader son. only the beginning. should be well informed to tackle These benefits that the IRS is giv- We like saving people this process, which in most cases will ing are not just for parents. Singles money on their taxes - and bring money to your pocket. taxpaying students can also apply for we’d like to help you. With This year, the IRS has many student loans. The American Oppor- the economy the way it is, credits and deductions to help tax- tunity Credit is once again available payers. One of these credits is the in this tax year. Students can receive there’s never been a better time to take control of Earned Income Credit. This benefit up to $ 2,500 refundable credit as your taxes. is for families and people in general long as the taxpayer's spouse or de- who has low incomes. Table of 2012 pendents are enrolled in an accred- Call to schedule an appointment shows that a family with three or ited university in the first four years Queens Office: more qualifying children can receive of study. This appropriation is started up to $ 5.891 U.S. dollars as repay- giving in 2009 and possibly this is 35-30 Francis Lewis Blvd. ment of this credit. the last year available. Flushing, NY 11358 The Child Credit is another ben- Of course, to access each of these efit of which you can take advantage credits and deductions, taxpayers 718-304-2035 as long as you meet all the require- must meet the requirements estab- www.gtax.com ments that the IRS requires for this lished by the IRS. Visit our office credit. Generally, each child under and we will give you a free estimate age 17 is eligible for $ 1,000. The to bring the past three years for a re- child may be the son, daughter, view of Taxes totally free! Jim Ciocia, Founder and Chairman Javier N. Solis is the President and Founder of Los Taxes Network, the First and Only Latino Network of Tax Preparation in America. You may *$99 minimum tax preparation fee. Please bring your invoice from last years taxpreparation fees. Offer available for 2012 tax returns only. Not to be combined contact Javier directly at [email protected] or 718-645-0690. with any other offer. Non-negotiable. No cash value. If you had your taxes His main office is located at 2812 Fulton Street, Brooklyn, NY 11207 This discount must be requested at time of service, no credits will be issuedprepared by Gilman Ciocia in 2012, you do not qualify for this promotion. after the tax return has been filed. Offer expires March 31, 2013. Advertorial
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