Fastax of Bakersfield

Do I need a CPA? This big myth has been around a long time. CPA firms have done an amazing job at promoting their services and convincing taxpayers that they need a CPA to prepare their tax return. While there are many very competent CPAs that specialize in tax preparation, not all CPAs do.. If I don’t need a CPA to prepare my tax return, who DO I need? Most times, all you really need is a competent tax preparer with experience who keeps up with the tax law changes each yea...r. After all, tax is not accounting, it’s law. So, if you have questions about your tax needs this year give us a call. See more

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NEW TAX LAW The new tax law will effect everyone, check here for updates; 1. Tax rates have been reduced which is good news however most W2 employees have received the benefit from this in their pay effective last February. This means you may not ... be getting as much refund as you expect or you may owe more than expected. Check your withholding on your pay stub its not to late to make a change. Call me! See more

Q: When does the new withholding start? A: Employees should begin to see withholding changes in their checks in February. The exact timing depends on when their... employer can make the change and how often they are paid. It typically takes payroll providers and employers about a month to update withholding changes on their systems. See more

Grand Opening 2017Tax Forms to Grab Before You Sit Down E-FILING, TAX TIPS: FASTAX is open for business.... We’re excited to announce that Fastax is officially open for business and ready to help you file your taxes the smart, simple way! Speaking of smart and simple, we’ve collected a cheat sheet of tax forms and records that you should have on hand when you sit down to file your tax return. The most common forms are W-2s for employees and 1099s for the self-employed, but there are others to have on your radar. If any of the below situations apply to you, click the links to learn more and make filing your taxes easier than ever! Forms to look for in the mail or online Education expenses. You’ll want to keep a lookout for a 1098-T. This tax form will list your school expense info, which you’ll need if you want to claim student tax breaks. Student loans. The interest you paid on your student loans is deductible, so you’ll want to check your 1098-E for that amount. Mortgage interest. Look for a 1098 to deduct your mortgage interest. Gambling winnings. You’re going to need a W-2G to report your gambling winnings. Personal records to get out Self-employment records. Gather your bank statements, receipts and other records of business-related expenses to offset income and reduce self-employment taxes. Daycare payments. Tally up what you paid for the year for each child to see if you qualify for the Child and Dependent Care Tax Credit. IRA contributions. Pull any personal records of retirement contributions, because some of those amounts may be tax deductible without itemizing. Records to claim itemized deductions Charitable donations. Support this deduction with proof from a year-end statement from the charity, personal checkbook records or receipts. You always want to have backup. Property and vehicle taxes. Find any official statements that show exactly how much you paid over the year. !

The IRS just announced that Jan 29th will be the first day to file taxes for 2017. However we are ready to prepare your return so we are able to file as soon as the IRS will accept. Call as soon as you get your W2. 661 871-0564