Adis and Associates 
124 Marilyn Dr.
Bricktown, N.J. 08723

973-720-1040

New Clients: At Time Of Filing Proof With  Id's

 

Proudly Preparing Personal and Small Business Tax Returns
                                                Since 1960

Annual income tax return filed by citizens or residents of the United States. 
                
​1040 - 1040 SR
        Starting @ $129.00                                 N.J. State - $59.00

BUSINESS

Starting @ $159.00 per Business+ 1040 + N.J. State

Sole Proprietors​
1099 MISC
Single Member Limited Liability Company (LLC)
 
RENTALS

Starting @ $159.00 per Rental+ 1040 + N.J. State
     Single-Unit Rental Properties
Multi-Unit Rentals
 

 
Free Electronic Filing
Get your federal refund faster, 5 - 10 days quicker with our free electronic filing. Electronic Filing is a service from the IRS to process your tax return more accurately and faster.
 
Direct Deposit.

Your tax refund will be directly deposited into your bank account. 
Additional  administration Fees all returns: 
$39.95
                   Includes                    
Document Preparation and Retention 
Errors and Omission Insurance
Postage-Internet E~ Mail ,
Phone calls
Text messages
Credit Card Processing
Identity Verification
                                       
           Forms and Schedules  Call for pricing                                                     

Listed below are some of the details that should be included on your tax preparation checklist.

Tax Preparation for Personal Information
The IRS needs to know who is filing the tax return, as well as how many people are covered on it. To make this easy, they require:

  • Your Social Security number

  • Your spouse’s Social Security number (if married)

  • Social Security numbers for any dependents

Tax Preparation for Income Information
The following documents will help you prepare all the income information that you need to file a federal tax return:

  • W-2 Forms from all employers you (and your spouse, if filing a joint return) worked for during the past tax year.

  • 1099 Forms if you (or your spouse) completed contract work and earned more than $600.

  • Investment income information (including: interest income, dividend income, proceeds from the sale of bonds or stocks, and income from foreign investments).

  • Income from local and state tax refunds from the prior year.

  • Business income (accounting records for any business that you own)

  • Unemployment income

  • Rental property income

  • Social Security benefits

  • Miscellaneous income (including: jury duty, lottery and gambling winnings, Form 1099-MISC for prizes and awards, and Form 1099-MSA for distributions from medical savings accounts)

Tax Preparation for Income Adjustments
The following adjustments can help reduce how much you owe in taxes, and in turn, increase your chance of receiving a tax refund:

  • Homebuyer tax credit

  • Green energy credits

  • IRA contributions

  • Mortgage interest

  • Student loan interest

  • Medical Savings Account (MSA) contributions

  • Self-employed health insurance

Tax Preparation for Credits and Deductions
There are many tax credits and tax deductions for various expenses, which are designed to help lower the amount of tax that an individual has to pay:

  • Education costs

  • Childcare costs

  • Adoption costs

  • Charitable contributions/donations

  • Casualty and theft losses

  • Qualified business expenses

  • Medical expenses

Tax Preparation for Direct Deposit
Are you interested in having your tax refund directly deposited into your bank account? If so, you will need to provide two things:

  • Your bank account number

  • The bank’s routing number

This tax forms / preparation checklist should help you get organized before filing your next income tax return.

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Single

Tax rate    Taxable income bracket                     Tax owed

10%         $0 to $9,875                      10% of taxable income                       

12%         $9,876 to $40,125            $987.50 plus 12% of the amount over $9,875

22%         $40,126 to $85,525          $14,605.50 plus 24% of the amount over $85,525

32%         $163,301 to $207,350     $33,271.50 plus 32% of the amount over $163,300

35%         $207,351 to $518,400     $47,367.50 plus 35% of the amount over $207,350

37%         $518,401 or more           $156,235 plus 37% of the amount over $518,400

Standard Deductions For Tax Year 2021

Marital Status                             Standard Deduction
Single                                                    $12,550
Married Filing Jointly                        $25,100
Married Filing Separately                  $12,550
Head of Household                              $18,800


 

                                     

Married Filing Jointly

Tax rate  Taxable income bracket                       Tax owed

10%       $0 to $19,750                     10% of taxable income

12%       $19,751 to $80,250        $1,975 plus 12% of the amount over $19,750

22%       $80,251 to $171,050      $9,235 plus 22% of the amount over $80,250

24%       $171,051 to $326,600    $29,211 plus 24% of the amount over $171,050

32%       $326,601 to $414,700    $66,543 plus 32% of the amount over $326,600

35%       $414,701 to $622,050    $94,735 plus 35% of the amount over $414,700

37%       $622,051 or more          $167,307.50 plus 37% of the amount over $622,050

 

Married Filing Separately

Tax rate  Taxable income bracket                       Tax owed

10%       $0 to $9,950                        10% of taxable income

12%       $9,951 to $40,525            $995 plus 12% of the amount over $9,950

22%       $40,526 to $86,375          $4,664 plus 22% of the amount over $40,525

24%       $86,376 to $164,925        $14,751 plus 24% of the amount over $86,375

32%       $164,926 to $209,425      $33,603 plus 32% of the amount over $164,925

35%      $209,426 to $314,150      $47,843 plus 35% of the amount over $209,425

37%      $314,151 or more             $84,496.75 plus 37% of the amount over $314,150

Can I Claim the EIC?

To claim the EIC, you must meet certain rules. These rules are summarized in Table 1.

Table 1. Earned Income Credit in a Nutshell

First, you must meet all the rules in this column.Second, you must meet all the rules in one of these columns, whichever applies.Third, you must meet the rule in this column.

Chapter 1.
Rules for EveryoneChapter 2.
Rules If You Have a Qualifying ChildChapter 3.
Rules If You Do Not Have a Qualifying ChildChapter 4.
Figuring and Claiming the EIC

1. Your adjusted gross income (AGI) must be less than:

• $51,464 ($57,414 for married filing jointly) if you have three or more qualifying children who have valid SSNs,

• $47,915 ($53,865 for married filing jointly) if you have two qualifying children who have valid SSNs,

• $42,158 ($48,108 for married filing jointly) if you have one qualifying child who has a valid SSN, or

• $21,430 ($27,380 for married filing jointly) if you don’t have a qualifying child who has a valid SSN.2. You must have a valid social security number by the due date of your 2021 return (including extensions).

3.You must meet certain requirements if you are separated from your spouse and not filing a joint return.

4. You must be a U.S. citizen or resident alien all year.

5. You can’t file Form 2555 (relating to foreign earned income).

6. Your investment income must be $10,000 or less.

7.You must have earned income.8. Your child must meet the relationship, age, residency, and joint return tests.

9. Your qualifying child can’t be used by more than one person to claim the EIC.

10. You can’t be a qualifying child of another person.11. You must meet the age requirements.

12. You can’t be the dependent of another person.

13. You can’t be a qualifying child of another person.

14. You must have lived in the United States more than half of the year.15. Your earned income must be less than:

• $51,464 ($57,414 for married filing jointly) if you have three or more qualifying children who have valid SSNs,

• $47,915 ($53,865 for married filing jointly) if you have two qualifying children who have valid SSNs,

• $42,158 ($48,108 for married filing jointly) if you have one qualifying child who has a valid SSN, or

• $21,430 ($27,380 for married filing jointly) if you don’t have a qualifying child who has a valid SSN.

Head Of Household

Tax rate  Taxable income bracket                       Tax owed

10%       $0 to $14,200                     10% of taxable income

12%       $14,201 to $54,200         $1,420 plus 12% of the amount over $14,200

22%       $54,201 to $86,350         $6,220 plus 22% of the amount over $54,200

24%       $86,351 to $164,900     $13,293 plus 24% of the amount over $86,350

32%     $164,901 to $209,400     $32,145 plus 32% of the amount over $164,900

35%     $209,401 to $523,600     $46,385 plus 35% of the amount over $209,400

37%     $523,601 or more         $156,355 plus 37% of the amount over $523,600

 
 

 

Once we receive or send paperwork you agree to engagement of services, and fees are expected on delivery. WILL NOT EFILE TILL PAYMENT IS RENDERED. Our work does not include any procedures designed to discover defalcations or other irregularities, such as fraud or embezzlement, should any exist.You attest that income and expense items you claim are substantiated by proper records and receipts, and can furnish such documentation in the event of an audit. ● You attest that the information you provide is accurate and complete to the best of your knowledge. ● You are ultimately responsible for the accuracy of the tax return(s) and should review all documents carefully before signing. The client agrees to furnish all information that is necessary for the preparation of the above tax returns and is responsible for the proper recording of transactions in the books of accounts, for the safeguarding of assets, and for the substantial accuracy of the financial records. The client is also responsible for maintaining sufficient documentation to substantiate all items of income and deductions claimed, including travel and entertainment expenses. It is recommended that the client provide photocopies of all tax documents to prevent any loss of data. Adis & Associates will not be responsible for lost originals. I am not a financial advisor, “I caution my clients as such and let them know that I can only discuss their finances as it relates to either tax planning or, for business clients, their income/expense statements for business clients

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
 
 
 
 
 

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