Tax Preparation Information and Checklist

Financial 1 Tax, Tax prep checklist

The first step in your tax prep is gathering all the information you’ll need to complete your tax forms. Here is a tax preparation checklist of items that you might need to complete your taxes. This tax prep checklist can help you get organized. …

What’s New – 2025 Tax Changes (Tax Year 2024)

Financial 1 Tax, Taxes 2024

The deadline for submitting your taxes for Tax Year 2024 is Tuesday, April 15, 2025. For certain scenarios, we may consider an extension to file, but there are payment requirements that matter for the deadline. We’ve posted the tax rates and brackets for 2024 and what to expect in 2025 …

What’s New in 2024 (Tax Year 2023)

What's New in 2023, Financial 1 Tax

There are many new changes from the IRS for tax year 2023. Read about the tax bracket changes, standard deduction increase, capital gains thresholds, and see how they compare to 2022. Seven things you should know to plan for next April 2024 for filing your tax return and maximizing …

Filing 2019 Income Taxes and Planning for 2020

Financial 1 Tax, Filing Income Taxes, Tax Planning for Next Year

For 2019, Form 1040 has been slightly redesigned. There is time to look into tax planning ideas for your 2020 taxes, but here are some things tax filers should review. There are seven federal income tax brackets for 2019. The lowest of the seven tax rates is 10% and the top tax rate 37% …

The Draft 1040: Adjusted for the Tax Law Changes

Financial 1 - Draft Form 1040

2018 IRS Form 1040 Draft Released Tatyana Bunich CEP.RFC — 410-908-9293 The ratification of the 16th Amendment allowed for the collection of income tax. Starting in 1913, American taxpayers used IRS Form 1040 to prepare and file their tax returns. The first tax return was three pages with only one page of instructions. Over the last 100+ years, the length of …