CDM Mobile Tax Service

Tax season is almost here and is everyone ready? Just a few reminders: To those who are expecting their multiple W2s. Make sure you have all of them before filing your tax return. Missing one of them will result to an amendment and is an additional cost on your tax preparation fees. If you purchased health insurance from the Health Insurance Marketplace, most likely you recieved advance payment of PTC (Premium Tax Credit) on Form 1095-A. Wait for this form to arrive before ...rushing to have your taxes done. This will surely affect your return. If you are a student or have a dependent who is a student, get a copy of tuition statement (Form 1098-T) if you haven't recieve one. Before the end of January, check with your payroll department if all the information you have on file are correct. For employers who send out their W2s or 1099 in the mail, you would want to recieve them on time. Having an old addres on file can delay recieving those forms. Let 's all ring in the year 2016 with Many Happy Returns !!! See more

Tax Service serving the community of Santa Clarita and San Fernando Valley. Free consultation! Don't delay...Taxes due April 15, 2015. File now and get your refund fast.

Tax Updates.... The American Opportunity Tax Credit expanded on the Hope Credit. The income limits are higher, the credit is available for more qualified expenses, and you can use the credit for four years of post-secondary education instead of just two. In addition, you can even get a refund if you don't owe any tax for up to 40% of the credit ($1,000). Tuition expense deduction. You can still deduct tuition expenses as an adjustment to income, even if you don't itemize your deductions. You generally take the tuition expense deduction if you don't qualify for an education credit or other tax break for the same expenses.

Tax Update on Adoption Credit-You may qualify for a credit equal to up to $13,190 of your adoption expenses. If your employer provides adoption benefits, you may also be able to exclude up to the same amount from your income. Both a credit and exclusion may be claimed for the same adoption, but not for the same expense. The credit is now permanent and indexed to inflation.

File early to receive refund early. You can prepare and e-file 2014 Tax Return starting in January 2015. Remember the tax deadline for the year 2014 is April 15, 2015.