TAX & ACCOUNTING SERVICES
Some Forms to Know:
- Individual Tax Return
- Itemized vs Standard Deductions
- Interest and Dividends
- Self-Employed Earnings
- Stock trades and Capital Gains
- Rentals & Royalties
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At WYZE Tax and Accounting, we decipher these forms and more, ensuring that your tax filing is accurate, complete, and in alignment with your financial goals. Trust us to navigate the complexity of tax forms, leaving you free to focus on what truly matters.
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What do these forms look like
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W2
Employee Income
Not-Self Employed
WORLDWIDE
1099-R
Retirement Income, Pensions, 401(K), IRA.. etc
WORLDWIDE
1098-T
Tuition Statement
WORLDWIDE
1098
Mortgage Interest Statement
1099-NEC
Self-Employment
WORLDWIDE
1099-MISC
Self-Employment
Empower
Growth
Some Credits to Know:
Please refer to IRS.gov for up to date information (Limitations Apply)
Child Tax Credit: Provides a credit for each qualifying child under the age of 17.
(Limitations Apply)
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Earned Income Tax Credit (EITC): Helps low- to moderate-income workers and families by providing a credit based on earned income and family size.
(Limitations Apply)
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American Opportunity Credit: A tax credit for qualified education expenses paid for an eligible student during the first four years of higher education.
(Limitations Apply)
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Lifetime Learning Credit: Offers a credit for qualified tuition and related expenses for higher education courses, including courses to acquire or improve job skills.
(Limitations Apply)
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Saver's Credit (Retirement Savings Contributions Credit): Provides an incentive for low- to moderate-income individuals to contribute to retirement savings accounts.
(Limitations Apply)
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Child and Dependent Care Credit: Offers a credit for a portion of the expenses paid for the care of qualifying dependents while the taxpayer works or looks for work.
(Limitations Apply)
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Residential Energy Efficient Property Credit: Provides a credit for qualified residential energy-efficient property expenditures, such as energy-efficient heating/cooling systems. "The Residential Energy Efficient Property Credit encompasses a variety of energy-efficient improvements."
(Limitations Apply)
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Residential Renewable Energy Tax Credit: Offers a credit for eligible renewable energy systems installed in your home, such as solar panels, wind turbines, and geothermal heat pumps. "The Residential Renewable Energy Tax Credit is tailored to various renewable energy systems that contribute to a greener household energy footprint."
(Limitations Apply)
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Adoption Credit: Offers a credit for qualified adoption expenses incurred when adopting a child.
(Limitations Apply)
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Foreign Tax Credit: Allows you to claim a credit for taxes paid to a foreign country on foreign-sourced income.
(Limitations Apply)
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Premium Tax Credit: Helps individuals and families with low to moderate income afford health insurance purchased through the Health Insurance Marketplace.
(Limitations Apply)
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Small Business Health Care Tax Credit: Provides a credit to small employers who offer health insurance coverage to their employees.
(Limitations Apply)