NEW LOCATION!
103 – 42 Lefferts Blvd – 2nd Floor, Suite 7 above the Medical Center next to Chase.
Our new office is just half a block from where Melissa’s office was located on Lefferts Blv.
Phone remains the same: 718 480 3518
General email is help@melissa.tax
We will begin to schedule tax preparation appointments from Jan 3rd. Those who activate their online account, can upload documents at any time and will get an early appointment. File Early to get your refund
Looking for tax credits or a refund? Be sure you bring the required documents to prove your child care, tuition credits, etc. You must provide these documents each year. See the Tax Credits Cheat Sheet attached to this email.
To all Business Owners: Get your 2024 Profit and Loss Statement together. If you do not track all your expenses – you may be missing out on tax deductions. Use the worksheet in your client portal. If you need us to help with this, respond to this message.
Do you know every taxpayer has an account with the IRS that you can view online? Visit https://www.irs.gov/your-account. You can see all your tax returns, the letters sent by the IRS and pay any outstanding balance with your bank card.
Did you Get a Tax Notice? Let us help you respond. Do not delay in responding to the IRS or New York State. Often you can get penalties and interest waived if you respond promptly and are up to date with all required returns. Give us a call and we will help you.
Tax Credits Cheat Sheet
| Tax Credit | Eligibility | Credit Amount | How to Claim | Supporting Documents | ||||
| Earned Income Tax Credit (EITC) | Must have earned income from employment or self-employment. | Varies based on income and number of qualifying children. | File a tax return, even if you don’t owe any tax or aren’t required to file. | W-2 forms, 1099 forms, proof of income, Social Security numbers for you, your spouse, and qualifying children. | ||||
| Child Tax Credit (CTC) | Must have a qualifying child under age 17, present in the US for the year and lived with you for at least 6 months. | Up to $2,000 per child. | File a tax return and complete Schedule 8812; plus Form 8332 for NonCustodial parent | Birth certificates, SSN, proof of residency (school records, medical records, government benefits) | ||||
| American Opportunity Tax Credit (AOTC) | Student enrolled at least half-time in a program leading to a degree or certificate; only for 1st four years of college education. | Up to $2,500 per eligible student (up to $1000 refundable) | File a tax return and complete Form 8863. | Form 1098-T from the educational institution, receipts for qualified expenses. | ||||
| Lifetime Learning Credit (LLC) | Available for all years of post-secondary education and for courses to acquire or improve job skills. | Up to $2,000 per tax return | File a tax return and complete Form 8863. | Form 1098-T from the educational institution, receipts for qualified expenses. | ||||
| Saver’s Credit | For contributions to an IRA, if 18 or older, not a full-time student, and not claimed as a dependent on another person’s return. | Up to $1,000 ($2,000 if married filing jointly). | File a tax return and complete Form 8880. | Proof of contributions to retirement accounts, such as Form 5498 or account statements. | ||||
| Premium Tax Credit (PTC) | Must have household income between 100% and 400% of the federal poverty line. | Varies based on income and cost of insurance. Refundable. And can be Clawed Back. | File a tax return and complete Form 8962. | Form 1095-A from the Health Insurance Marketplace, proof of income. | ||||
| Credit for Other Dependents (ODC) | Must have dependents who do not qualify for the Child Tax Credit. | Up to $500 per dependent. | File a tax return and complete Schedule 8812. | Social Security numbers for each dependent, proof of residency. | ||||
