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Frequently asked questions

It all began with a simple idea fueled by a deep passion. As a small business, we pride ourselves on personal attention and dedication to every detail. Our approach is rooted in quality and integrity, ensuring that everything we do reflects our commitment to excellence.

Frequently asked question 

What are the most common tax deductions I can claim?

Answer:Tax deductions reduce the amount of income subject to taxation, thereby lowering an individual's overall tax liability. They differ from tax credits, which offer a dollar-for-dollar reduction of the actual tax owed. Taxpayers can generally choose between taking a standard deduction, which is a fixed amount based on filing status, or itemizing deductions, which involves listing specific eligible expenses.Most taxpayers opt for the standard deduction unless their itemized deductions exceed that amount.

Frequently asked question example

How do I know if I need to file a tax return?

Determining whether you need to file a tax return depends on several factors, including your gross income, filing status, age, and the source of your income. While most U.S. citizens and permanent residents working in the U.S. are required to file, there are specific thresholds and situations that trigger this obligation.

Frequently asked question example

What documents do I need to prepare for filing my taxes?

To accurately file your taxes, you will need to gather a variety of documents that provide personal identification, report income, and substantiate any deductions or credits you plan to claim. The specific documents required can vary based on your individual circumstances, such as employment status, investments, and family situation.

Frequently asked question example

What are the deadlines for filing taxes this year?

The primary deadline for filing federal income tax returns for most individual taxpayers in 2026 is April 15, 2026, for income earned in the 2025 tax year. However, various other deadlines exist throughout the year for different types of taxpayers, estimated tax payments, and specific financial actions.

Frequently asked question example

How can I check the status of my tax refund?

To check the status of your tax refund, you can utilize online tools provided by both federal and state tax authorities. The process generally requires specific personal and tax-related information to verify your identity and locate your return.

Federal Tax Refund Status

For federal tax refunds, the primary tool is the IRS "Where's My Refund?" service, available on the IRS website or through the IRS2Go mobile app.

To use this tool, you will need the following information:

  • Your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
  • Your filing status (e.g., single, married filing jointly).
  • The exact whole dollar amount of your refund as shown on your tax return.

The "Where's My Refund?" tool updates once a day, typically overnight, so there is no need to check more frequently. The tool displays your refund status in three phases:

  1. Return Received: Indicates that the IRS has received your return and is processing it.
  2. Refund Approved: Means your refund has been approved, and the IRS is preparing to issue it by the date shown.
  3. Refund Sent: Confirms that the refund has been sent to your bank or mailed to you. It may take 5 days for a direct deposit to appear in your bank account or several weeks for a mailed check to arrive.

Most e-filed federal refunds are issued within 21 days, while paper returns can take 6 weeks or more. However, some refunds may take longer if the return requires corrections, additional review, or if it involves claims for certain credits like the Earned Income Tax Credit or Child Tax Credit. Filing an amended return can take up to 16 weeks to process.

If you need to check the status of an amended return, a separate tool called "Where's My Amended Return?" is available.

State Tax Refund Status

To check the status of your state tax refund, you need to contact your specific state's taxation department or use their designated online tools. Many states, like Colorado, offer online services (e.g., Revenue Online) that provide real-time updates on your refund status.

Similar to federal checks, you will typically need your Social Security Number, filing status, and the exact refund amount. State refund processing times can vary, with e-filed returns often taking 3-5 weeks and paper returns up to 3 months. Delays can occur due to errors on the return, paper filing, or if the return is selected for additional review or identity verification.

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