Good morning. Thank you for contacting S&S Tax Services. This is Jonathan. ob体育 may I be of service for you today?
Jonathan, my name is Timothy Jenkins. I would like to schedule an appointment with you to have my taxes done but I have a couple of questions first.
Sure, I can answer general questions for you.
My sister, Terri, and her daughter, Lucy, have been living with my wife and I for over a year. Lucy is 10 years old. When we file our tax return, will we be able to get all the credits and deductions that I hear about from friends? My sister has medical issues and has been unable to work full time.
Mr. Jenkins, to claim your niece as a qualifying child, there are two types of tax credits available when you file if you meet the eligibility requirements. Let me explain, a non-refundable credit can help eliminate any tax liability you have, If there is any excess left that portion cannot be refunded to you. Then there is the refundable credit, this credit can do the same as non-refundable, but if there is any excess or you do not have a tax liability, those amounts can be refunded, increasing your refund.
It's easier to discuss the eligibility requirements in person. So, let’s schedule an appointment for you and your wife to come to my office to discuss the credits and see what you are eligible for. We can also review your W-2’s and any other pertinent information. I will also email you a questionnaire I use with all my clients to complete prior to our appointment. Please bring your photo ID and social security cards for you and for anyone you might claim on your return.
But first I need to ask you some additional questions about your sister and your niece to gain a better understanding of the tax benefits that you may be eligible for.
Ok my wife and I have both received our W-2s and 1099s for the savings account we have with the bank. We rent so we do not have a mortgage. What else will you need for my niece? I will check with my sister about their Social Security cards. We’ll bring ours.
In addition, I will need to know your sister’s income to determine whether you can claim your sister or your niece on your return. If possible, having your sister available during our appointment will be helpful so she can answer additional questions.
This sounds more complicated than I had heard. Why does it matter how much my sister made? She already told me she will not claim her daughter and that I can. After all, my wife and I have supported them for over a year now.
I understand your concern, but I need to explore the big picture here. My job is to prepare a correct tax return. To do this, I need to ask probing questions and document the answers. After all, you would not want the IRS sending you a letter a few months from now requesting that additional information, would you?
Now that you put it that way, I do not want that. Ok, I will discuss this with my wife and sister. Sounds like I called the right person for the job.
Yes, especially when it comes to refundable credits, it is important to get it right the first time. I look forward to meeting everyone. Have a nice day.