Trackin Assets Personal Taxes Request Form - Updated 2022 Logo

  • Thank you for choosing Trackin Assets’

    Personal Tax package!

    Services Available:

    • Federal Income Tax e-filing (Form 1040)
    • State tax e-filings
      • Includes one state (additional state reporting available for an added fee)
    • Schedule C Form
      • Includes business income and expenses
      • Associated depreciation forms
      • Profit and loss report & Asset worksheets compiled for your schedule C are prepared at additional fees**
    • Schedule SE-T - Self-employment tax
    • Two-year comparison
    • E-signing of tax documents for easy filing
    • Free filing of federal and state extensions, if needed
    • Tax refunds direct deposit
    • Easy upload and storage of your tax documents

    *Payment is required before filing returns and extensions.  

    **Additional fees associated are an hourly rate of $100/hr 

    Trackin Assets works together with you to prepare your Federal and State tax filings at an efficient and discounted rate. To keep costs low and ensure a quick return, we need your help to gather the required information.

  • Things you may need:

    1. Last two prior-year tax filling (If you did not file with TA)
    2. Business Financial Statements (If not prepared by TA)
      1. If you do not have financial statements, you can enter your revenue and expenses manually. 
    3. Schedule K-1s from your ownership in partnerships, S-Corps, or a beneficiary of a trust
    4. Income forms (W-2s & 1099s, Alimony, Interest & Dividend)
    5. Income adjustment support documents (Retirement contributions/Distribution, HSA, Education exp., Social Security Payments)
    6. Supporting documents for expenses and deductions if itemizing:
      1. Mortgage interest and real estate tax
      2. Interest payments
      3. Unreimbursed medical expense
      4. Charitable contributions
    7. Home office use (Square footage and Expenses)
    8. Personal vehicle used for business (Must keep a log of miles)
    9. Rental property (Income, expense, date placed in service, and cost of building)

  • Individual Income Tax Initiation Request

    The following information will allow us to begin the process of filing your personal taxes
  •  -
  • Browse Files
    Cancelof

  • Need to save and continue later? No problem, click the save button and use the link to continue your form anytime. 

  • General Information

  •  - -
  •  - -

  • Qualified Dependents

    The IRS defines a dependent as a qualifying child (under age 19 or under 24 if a full-time student, or any age if permanently and totally disabled) or a qualifying relative. A qualifying dependent can have income but cannot provide more than half of their own annual support.

  • For additional help see https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent

  •  
  •  

  • Child & Dependent Care Expense:

    - If you paid a daycare center, babysitter, summer camp, or another care provider to care for a qualifying child under age 13 or a disabled dependent of any age so that you could work, you may qualify for the Child and Dependent Care Credit.

    - Costs related to a nurse, home care provider, or another care provider for a disabled dependent.

    For the tax year 2022, the qualifying expense limits, maximum percentage of qualifying expenses, and credit-reducing income level have reverted to the amounts prior to 2021.

  •  -

  • Was the care provider your household employee in 2022? Examples of household employees include babysitters, nannies, health aides, private nurses, maids, caretakers, yard workers, and similar domestic workers but not daycare centers.

  •  -

  • Getting to know your Taxes

    Select all that apply

  • Browse Files
    Cancelof

  • * Employee Business Expenses can be deducted as an adjustment to income only for specific employment categories and eligible educators. Qualified Employee:

    - Armed Forces reservists
    - Qualified performing artists
    - Fee-basis state or local government officials
    - Employees with impairment-related work expenses

    No other type of employee is eligible to claim a deduction for unreimbursed employee expenses.

  • Browse Files
    Cancelof

  • Small employers that offer a qualified health plan to their employees through the Small Business Health Options Program (SHOP) Marketplace may be eligible for a tax credit. 

    For more information see: https://www.irs.gov/affordable-care-act/employers/small-business-health-care-tax-credit-and-the-shop-marketplace

  • The standard deduction vs. Itemized Deduction

    Generally, a taxpayer will pick the higher of the two deductions. The standard deduction is designed for simplicity and ease, with no requirement to keep receipts. An itemized deduction is available if you have expenses above and beyond the standard deduction.

  • Standard Deduction Table

    Standard Deduction 2019 2020 2021 2022
    Single and Married Filing Separately $12,200 $12,400 $12,550 $12,950
    Head of Household $18,350 $18,650 $18,800 $19,400
    Married Filing Jointly $24,400 $24,800 $25,100 $25,900

  • Gather itemized expense calculations and support documents:

    • Unreimbursed Medical and Dental expenses paid in 2022 (reduce any insurance reimbursements)
    • Taxes paid not listed elsewhere (State and local income and property taxes) - Not to exceed $10,000.
    • Long-term care insurance premiums (Exceeds 10% of adjusted gross income)
    • Interest Paid in 2022
      • Home mortgage interest
      • Points paid on purchase or refinance
      • Investment Interest
      • Student loan Interest
    • Automobile Use in 2022
      • Mileage for auto expense (Must keep a log)
    • Charitable Contributions (written documentation is required for all gifts over $250)

    If you don't know if you should itemize, gather your support documents and we can schedule a time to discuss.

  • Browse Files
    Cancelof

  • Employee Business Expenses

    Employee unreimbursed Business Expenses for Qualified Employees
  •  
  •  
  • Standard Mileage Rates (per mile) 2019 2020 2021 1/1/2022 - 6/30/2022 7/1/2022 - 12/31/2022
    Business  58 cents 57.5 cents 56 cents 58.5 cents 62.5 cents

  • Rental Income

  • Supplemental Information - Rental Activities

    • Provide as much of the requested information for each rental property as possible. If you keep income and expense documents, please upload those vs. filling out the table below.
    • Did you purchase, sell, or refinance a property during the tax year? Upload the HUD-1 statement with any other support documents.
    • If you filed with Trackin Assets in the prior year and there has been no change to rental properties, skip to the income and expense section or upload your rental financial documents.

  • For seven or more rental properties, please upload supporting documents to include the following:

    • Address
    • Property type
    • Date placed in service
    • Cost of building
    • Income and Expense statements or logs

    Discuss the following with Trackin Assets

    • Are you a Real estate Professional?
    • Are you in the business of renting personal property?
    • Did you make any payments in the tax year that would require you to file form 1099?
  • Browse Files
    Cancelof
  •  
  •  

  • General Business Information, Revenue, and Expenses

  • Browse Files
    Cancelof
  •  - -
  •  - -
  •  
  •  
  •  
  •  
  •  
  •  

  • Personal Car or Truck Expenses used for Business Purpose

    Ordinarily, expenses related to use of a car, van, pickup or panel truck for business can be deducted as transportation expenses. Use of larger vehicles, such as tractor-trailers, is treated differently and is not part of this discussion. In order to claim a deduction for business use of a car or truck, a taxpayer must have ordinary and necessary costs. Using the standard mileage rate is the most common and is recommended if you haven’t kept receipts. The IRS require a mileage log.
  • Standard Mileage Rates (per mile) 2019 2020 2021 1/1/2022 - 6/30/2022 7/1/2022 - 12/31/2022
    Business  58 cents 57.5 cents 56 cents 58.5 cents 62.5 cents
  •  

  • Actual Expense Method:

    • Vehicles used less than 100 percent for business; expenses must be allocated between business and personal use. Only the business use percentage of each expense is deductible.
    • For actual expenses, a mileage log helps establish a business use percentage. Taxpayers should also retain receipts, invoices, and other documentation to show the cost and establish the vehicle's identity for which the expense was incurred. For depreciation purposes, provide the vehicle's original cost, any improvements, as well as the date it was placed in service.
  •  

  • Expenses for Business Use of home

    You may qualify for the home office deduction if you regularly use a portion of your home for your business. A home can include a house, apartment, condominium, mobile home, boat, or similar structure.

  • Beginning with 2013 tax returns, the IRS began offering a simplified option to claim the deduction. This new method uses a prescribed rate multiplied by the allowable square footage used in the home.

    The simplified method includes:

    • The prescribed rate is $5 per square foot with a maximum of 300 square feet.
    • No depreciation deduction, which means no recapture of depreciation upon the sale of the home

    Regular Method:

    • Percentage of home used for business (no limit)
    • Actual expenses determined and records maintained
    • Depreciation deduction for a portion of the home used for business
    • Amount in excess of gross income limitation may be carried over
  •  
  •  

  • Refund Direct Deposit & Payment Options

  • If you qualify for a refund, how would you like your refund?

  • If you owe taxes, how would you like to pay?

  • Bank account information for Electronic Funds Direct Deposit or Withdrawal:

  • Final Questions, Document upload, and Submit

  • Next Steps:

    1. Upload any final documents and Submit. 
    2. Trackin Assets will contact you with questions or clarifications
    3. Trackin Assets will deliver a full digital copy to you for review and records once the return is complete
    4. Payment of return preparation fee and digital signing of the documents and filing
    5. Await filing acceptance and return or make payment on the balance due
  • Browse Files
    Cancelof

  • Feel free to contact Jeremy at 801-990-3980 or email Jeremy@trackinassets.com with any questions. Thank you!

  • Should be Empty: