Income Tax Preparation Akron Ohio

Need help in individual income tax preparation? Our Basic Fees for most income tax preparation returns is just $130. We can prepare your personal or business 1040, 1065 or 1120 tax returns. Let our tax pros handle your Accounting, Bookkeeping and Tax Preparation Services. If you’re searching for a ‘tax preparer near me’ or a ‘income tax service near me,’ look no further. Count on us to provide you with your maximum refund on your individual personal or small business income tax return.

What makes us your best Tax Prep choice?

First, we have years of professional income tax preparation experience, and we know taxes inside and out. Second, we have been around the block and our tax office has seen almost every kind of tax issue you can think of. Third, we will provide you with the best refund that is legally possible. Finally, our fees are very reasonable, if you don’t have a business or rental properties our fee is just $130 to file your taxes.

Income Tax Preparation:

We offer Tax Preparation Services in Akron, Ohio, guaranteed to provide accurate, reliable, and secure service. Our clients trust us to deliver professional results at reasonable fees. Our flat rate, no-frills pricing means you will always know what you are paying upfront — No Surprises — No Additional Fees apply.

Why Pay More?

Save Money with our Tax Preparation Services

Income Tax Returns Completed for just $130

(State, City, and E Filing completely free)

Excludes Business & Rental Returns

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IRS Tax Experience Counts

Put your mind at ease when it comes to your Tax Preparer Service. For instance, we have been completing income tax returns since 1982. Therefore, we have seen just about everything there is with federal taxes. We are your best choice for tax and accounting services. Unlike big-name competitors, who hire and train new people every year, our income tax preparers have the experience you need to get the maximum refund guarantee by our experienced pros using our professional tax preparation software.

For example, some of our competitors are limited as to the type of complicated tax situations they are willing to complete. No such limitations apply to us as we will file all federal tax returns, individual 1040’s, 1065 partnerships, 1120 S or C corporations, and nonprofit 990’s. Even if they file free for you, you are better off getting our services. You don’t really get to know their actual prices until after working with them. Unlike them, our pricing is transparent and you will know the cost before we start.

Trust the Tax Experts

This filing season, trust the tax experts at Akron Income Tax Co. Most importantly, experience counts when it comes to completing your Income Tax Preparation Services in Akron, Ohio. Hire the Best income tax preparers near you—full-service Preparation for individual 1040s, business 1120s & 1065 Federal Income Returns. Likewise, our in-depth tax knowledge and local presence allow us to customize our services to best meet your needs and budget along with offering you bigger tax refunds. Check out our Best Testimonial on our key services

Income Tax Preparers

The income tax accountants at our company are your trusted source for tax preparation, business Accounting, Business Taxes, Bookkeeping, and more. Most importantly, we are committed to providing you with efficient, personal service and innovative solutions to the challenges facing your Akron, OH business.

Furthermore, we keep up with the tax law changes by checking daily on IRS for federal or state changes or other technical corrections. We understand that you need accurate, timely information to make critical business decisions, and we are here to deliver!

Our Goals

Our goal is to exceed your expectations. Above all, when it comes to federal and state income tax preparation, delivering services that are relevant today while keeping pace with your business’s changing needs in the future. Whether you are located in Akron, Ellet, Goodyear Heights, Firestone Park, Hartville, Kenmore, Mogadore, Green, Tallmadge, Uniontown, Barberton or any other local area we are the nearest tax office to provide income tax preparation or any tax assistance you may need.

For instance, our income tax professionals offer face-to-face preparation appointments (yes, your time is valuable, and we respect it!) in a private tax office, or you can just drop off your tax documents at any time and pick them up in a few days. We also have online tax options, so you can file your federal income taxes without leaving home. Our income tax service will exceed your expectations, Satisfaction Guarantee.

Who is cheaper for income tax preparation H&R Block or Jackson Hewitt? Actually, in our opinion, our income tax preparation cost are more reasonable at just $130 for a basic return. With our low fee, you don’t have to do your DIY own taxes with Taxact, Intuit or even Turbotax. You don’t have to rely on some free edition or meeting eligibility requirements to use vita.  Unlike the big box stores, our state returns are free when you complete the federal return. For specific questions just call our live tax experts!

Filing for your Maximum Tax Refund

Furthermore, our experience allows us to apply our knowledge to get you the biggest refund LEGALLY. Our income tax preparers know the laws that get your maximum refund. Since our inception, we have offered a full range of Accounting, Business Consulting, and completion of federal taxes, for example, small to medium-sized businesses throughout the Greater Akron, OH area. Our philosophy is to provide accurate, reliable, and secure accounting and income tax preparation services to our clients at a reasonable cost.

Above all, we encourage you to contact us with any questions that you may have or visit our income tax office.

What do you get with our Tax Preparation Services?

• Tax professionals to Prepare your Taxes.
• Review of previous Returns.
• Electronically (E File) File Your Income Tax Returns
• Free State and City tax filing completed (w/Federal return).
• Recommendations on how to reduce your liabilities.
• Performance Guarantee applies.

Please put your mind at ease when it comes to your tax return preparation and trust our experienced tax experts. Whether it’s a simple Return or you want to develop a proactive strategy to help you minimize your liability. Of course, our professional accountants can provide you with the return preparation you are looking for. When you are looking for the “best tax preparer, “think Akron Income Tax Co. Our years of experience in filing taxes enables us to file the best way based on your personal information. We are the trusted choice of individuals and businesses for income tax preparation services throughout the Greater Akron, OH area and near you. We will be happy to put our tax preparation expertise to work for you to file your tax forms.

1040 tax returns:

Taxpayers use the IRS 1040 form to file an annual United States tax return. Everyone needs to file taxes if their income is above a defined limit. The filer needs to mention taxable income for the year like their wages, salary, capital gains, social security benefits, pensions, taxable interest, etc. Trust a experienced tax return preparer to work for you.

Federal Income Tax

The process to file your federal income tax returns can be straightforward. Furthermore, the information must be in correctly entered. As tax professionals, we have mentioned here some essential information that is needed to fill out the form:

• W-2 Statements
• Interest
• Dividends
• Pension
• Social Security Card
• Earned Income Tax Credit (EIC)
• Child Tax Credits
• Rebate Credits
• Rental Property
• Education Credits
• Student Loan Interest

Multiple Tax Form Sections

The 1040 form has sections that determine your taxable income and your tax refund. Adjusted gross income, and whether you are eligible for an Income Credit refund or need to pay additional taxes. Not everyone will be required to fill in the same information, and in certain situations, other 1040 forms will be required. After filling in the data, completing income tax preparation, the taxpayer can email or e file the form. Our tax preparation software can file any type of return and tax credits you need.

Although the process is simple, it could become tedious if there are additional requirements. In this case, ensuring that you fill out your tax return form with the most accurate information, particularly when it comes to filing individual returns. Furthermore, you will require the help of a knowledgeable and experienced tax preparer. When you need taxpayer service, tax help or have complex tax issues call us or contact the IRS directly.

Akron tax service will give you the most accurate United States tax advice about your current 1040 tax return. Schedule an appointment today!

Rental Property Tax Return:

Rental income also comes under federal taxes, but it can complicate the tax prep near to you as it is quite different from a simple tax return. It also includes other types of rental incomes such as:

• Advanced Rent.
• Expenses Paid by Tenants.
• Services In Place of Rent.
• Security Deposits.

They are to be included in the tax return regardless of when you earn them.

IRS will determine your refund or tax according to the two incomes: expenses from the rent and the second one from the future sale of your investment property. However, owning an investment property is a benefit, where you may get a tax refund due to your rental property depreciation. There are other deductibles expenses to consider as well, like insurance costs, property maintenance, property taxes, and HOA fees, all are an essential part of the federal tax process.

Understanding and calculating the depreciation and taxable investment income process could be pretty challenging. You would need an expert tax service who would understand how depreciation happens and how much bigger a refund you can get from your investment property.

Small Business Income Tax Returns:

Small business taxes are our area of expertise. It is comprehensible that operating a small business venture can be challenging, and with the added stress of business owner completing the tax return, it can become overwhelming for you. But worry not you can transfer all your IRS issues to our tax preparers. We are here to take care of your burden and will assist you with each step of the income tax preparation process, so you can make correct deductions and save money in the process. You can hire the best tax accountant near Akron.

We understand that your time is precious and taking care of tax preparation for a small business on your own can be pretty overwhelming. But our team of small business accountants are here to take care of you, be assured that you are not alone. Tax accounting is an important function for businesses. Whether you use QuickBooks, Quicken  or some other software, we can work with you. We even have clients who bring us their raw data and pay us to complete their bookkeeping.

Before filing your return, there are three essential steps to follow for income tax preparation services:

Collect your Small Business records for tax preparation:

Gather your paper and electronic record of business expenses and income. They will be needed to complete your tax documents for small business tax preparation.

Ascertain that you have the correct IRS form:

Undoubtedly, income needs to be reported to the IRS to pay the tax but choosing the proper form for preparation depends on your business. The Internal Revenue Service requires electronic filing for certain tax forms. Our business services can assist.

Fill out your Self Employed Schedule C form:

If you want to e file your tax return, search the IRS website for a copy of the Schedule C form and fill out all the necessary details or use our Business Info Form.  It would help to to have proper income tax recordkeeping so you can subtract your expenses from the income to get net profit or loss and attach the result with your 1040 IRS form. Moreover, if you receive a 1099-K, you will have to file a business return. With our expert availability, our tax pros can providing income tax service and can assist you with the tax laws!

Typically, the expenses that you need to enter in the form preparation consist of:

• Cost of Goods Sold (COGS).
• Deductible Mileage Expenses.
• Business Travel and Entertainment
• Advertising and Marketing Deductions
• Gift Deductions
• Business Meal Deductions
• Assets and Equipment
• Depreciation.
• Home Office Deductions.
• DoorDash Driver Taxes
• Uber Driver Taxes

Federal Tax deadline:

There are no different deadlines. When you fill out a Schedule C, it will be included with your 1040 IRS form and follow the same April deadline.

If you still feel confused about the process, we are here to help your tax process by guiding you on which expenses and profit are relevant to fill out the form. Through our tax preparation services, our acquired knowledge and experience, you will be able to file your tax return .

1065 Partnership Tax Returns:

Do you need help navigating the preparation of reporting income and expenses for a partnership filing? Understanding the basics of this process and working with professional helps alleviate some of the confusion and complications. Here are a few basics to keep in mind when handling your tax documents for your federal tax return.

Partnership tax returns have a different due date. Rather than the typical April deadline, partnership filings require completion by March 15. This date is reserved for those filing tax return for partnerships and multi-member LLCs. Like a 1040 return, the 1065 form reports income, losses, gains, deductions, and credits.

This lengthy return includes over 30 informational boxes with multiple entries for each. Essentially, the 1065 tax preparation process provides a snapshot of a company’s annual financial status. In addition to a Schedule K-1, filers must offer information from various other forms, including:

• Forms 4562, 1125-A, 4797, 1099s, 8918, 114, 3520 and 7203

1120 Corporate Tax Returns:

Rather than a 1040 form, which individuals only use to file a tax return, a corporate tax requires an 1120 C 0r 1120 S Corporate form. The tax form requires preparation filing with both the state and federal tax agencies and needs to be filled with information associated with the business or partners.

Precisely like a 1040 tax return form for individual income tax, business returns include appropriate income, gains, losses, deductions, credits. Moreover, the 1120 form is used to determine their income tax liability.

Ensuring adequate tax preparation for corporations is crucial because March 15 is the deadline for a corporate tax returns. Failure to file the business returns on time results in a strict penalties and interest; that’s why it is essential for the corporations to self-audit.

Double Checking

Not only will it uncover any potential mistakes, but it will also keep the Internal Revenue Service and other auditors far from your business. Trust our income tax return preparer service to deliver expected refund that you need for your income tax preparation.

You would need a profit and loss report and balance sheet to file your federal tax return. It is also crucial to determine whether a company is an S corporation or a C corporation, as they need to file an S or C corporation forms respectively. But, knowing this is essential as each corporation files and pays in different ways.

Furthermore, there is a limit on the number of shareholders of S corporations where they cannot have more than 100, whereas C corporations can have an unlimited number of them.

Reform Act

The 2017 tax reform act has fixed the corporate tax rate to 21%, which is lower than the maximum personal tax rate while eliminating the alternative minimum tax as well.

The whole C corporation pays the tax return via 1120 C form, whereas S corporation pays no income taxes at the corporate level.

So, they have a tax advantage. In addition, the profit and loss of the S corporation are transferred to the owners, and they have to pay the tax return via the 1120 S form individually. The Tax Cuts and Jobs Act of 2017 have also given S Corp shareholders an edge as only 20% of the net business income is deducted. Hire the best tax accountants to get the best results.

Crypto Tax Returns:

Cryptocurrency earnings also come under the banner of federal tax returns and need to be paid. Therefore, you can file your crypto earnings through the 1040 Form, as the IRS has now dedicated a section for cryptocurrency entries.

However, it could be the most confusing and complicated process because of the unfamiliarity of cryptocurrency taxes. Don’t count on cheap or free software to get the job done, you need someone with experience. We are Robinhood tax specialist for income tax preparation.

You would need to complete the given below information in the 1040 form:

• Received Cryptocurrency
• Sold Cryptocurrency
• Exchanged Cryptocurrency
• Other Cryptocurrency Transactions

IRS Requires

The 1040 form requires precise information about cryptocurrency; that’s why there are multiple questions regarding it.

However, some virtual currencies are included, and some are not on IRS Form 1040. Confusing, isn’t it? Figuring out your crypto tax basis is a major issue. Simply put, cryptocurrency is determined as an asset and thus incurs as taxable income and needs to be included with your income tax preparation.

If you feel that you can fill in the general information and skip the rest of it, you need to reconsider. Federal tax rules are stringent regarding cryptocurrency tax returns. Failure to write correct information could incur heavy penalties, and in a worst-case scenario, you could be persecuted according to the tax law.

If you wish to avoid the risk, you can learn more about this new tax preparation inclusion with the help of an expert tax preparer.

Amended Tax Returns:

In case of a mistake on your federal tax return for any tax year, you can file an amended return, meaning the changes would be made on the prior-year tax return. IRS form 1040X is used to file a return, and taxpayers can only amend mistakes on the tax return for three years. In the meantime, the tax law gives the Internal Revenue Service the ability to carry out audits of six years of tax returns.

If the taxpayer had deliberately submitted amended returns, the IRS could open up individuals past all files for auditing. However, if there are genuine reasons to file amended returns, then a person won’t get into trouble.

Some of the reasons that could be essential to file the returns are:

• Correction of filing status,
• Incorrect income or the number of dependents mentioned,
• To claim tax deductions and income credits.

Don’t forget to amend the return on state taxes as well. If you wish to amend a federal tax return because of an error, then it’s necessary to file for an amended return for the state as well. As with the federal return, if you realize that there’s a problem with it, you can correct it by filing an amendment as quickly as possible to minimize interest and state penalties. Let our professional tax preparers assist you with income tax preparation!

Refund advance loans:

These are instant refund loans that a taxpayer gets from a company based on their tax refund amount. It’s a bank product, also called Refund Anticipation Loan (RAL). The minimum amount that you can take generally lies between $500-$4000 and can be approved within 24 hours after receiving the acknowledgment about your tax refund from IRS. We really dislike these loans that get deposited into your bank account. We feel that the cost is way too much for the amount of time it would take to get your money into your bank account. So, we don’t offer these high price loans.

This is not a good option because these high priced 17-21 day loans cost hundreds of dollars of your hard-earned money.  For this reason, we just don’t offer them. The reason you don’t notice how much it cost you is that they take the money out of YOUR expected refund before you see it. But it is YOUR money… the less it cost you to get your online tax completed, the more money YOU get in your pocket!

Why do some income tax service offer this?

The big box stores promote this because it sounds like a deal not to wait or pay your fee when you get your taxes done. They make a lot of money on these loans. There is no credit check on this advance loan, but there are additional fees, and you also need to e-file your tax return on it. However, the tax preparation fee will be charged and taken out before you get your money. We have seen some of these charges in the $600-$850 range after the fact… so think about how much it cost for 17-21 days…vs our reasonable low fixed cost for income tax preparation .

After your loan gets approved, they will send your lender the details of your direct deposit account, where they will deposit the after your return gets accepted.

FAQs about income tax preparation

If I am currently unemployed, do I need to pay tax on unemployment compensation?

According to American Rescue Plan Act, if you have unemployment compensation up to $10,200 then you don’t have to pay tax, but it applies only for the 2020 tax year. The taxing authority can change the tax code and different limitations apply for individuals with different tax situations.

How can I get my tax refund?

Your tax refund will be deposited faster if you e file it accurately. The IRS will direct deposit in your bank, member FDIC, within in around 21-28 days. However, if you mail your return, you’ll probably have to wait a much longer time to receive your refund. To avoid delays in refund transfer and get your max refund, consult with our tax professional team today. You can track your refund by going directly to the IRS and State of Ohio websites.

What are the requirements to e file a tax return?

You really should e file, there are lots of reasons to do so. We will take care of your filing process electronically. However, you need to provide us with last year’s AGI information. If you don’t know what it is, then you can use the IRS Get Transcript to get your previous year’s AGI.

What are your income tax preparation fees?

We only charge $130 for most returns as tax prep fees. Moreover, you get unlimited access to tax advice from our professional tax preparers on any of the tax topics without any additional service fees. Our pricing is transparent you can count on our final price. There are no hidden e file fees or additional fees for the tax help we provide. Accuracy Guarantee on our income tax preparation.

Am I eligible to pay self-employment income tax?

Different limitations apply on individuals with different financial records. If your net income is above $400, you need to file a tax return. Additionally, if your income is below $400, you may still need to fill out the form just according to the filing requirement.

How can I file a return for previous tax years?

Filing for previous year can be done, contact our income tax office. We can e-file for 2 previous years. You can either work on printing out a copy or forwarding a pdf of the tax year that needs fixed to start tax prep. Older returns more than 2 years old must be paper filed. Furthermore, IRS does not allow taxpayers to e file prior year returns via self-preparation websites.

Do you also offer legal advice?

We do not provide legal advice. We don’t represent taxpayers in front of state agencies or the IRS. However, our professional credentials allow us to offer you audit support as a tax preparer if we filed your taxes.

What kind of deductions am I eligible for?

Everyone is eligible for some kind of deductions or tax credits. However, the amount of tax could be different for each individual because of their income. Although, business owners and self-employed persons might get a slight advantage on saving the cost during audit defense. Our tax preparation services will assist you in getting all the deductions you deserve. Your tax filing options are not limited.

Which tax software do you use for tax preparation services?

We use ATX but we can use any tax software as we have access to paid versions of these tax tools. Some of our tax services are available online. 

Usually, when is the due date of the Ohio Tax Return?

The deadline for tax return in Ohio is usually fixed on April 15. Unless it arrives on the weekend or is otherwise devised to change by the IRS. We recommend you to file the returns earlier as you can amend returns if the tax situation changes.

Where’s my refund Ohio?

If you’re wondering, “Where’s my refund Ohio?” you’ve come to the right place. At apc1040 , we understand how important it is to get your tax refund on time. That’s why we offer reliable and efficient tax preparation services to help you maximize your refund and get your money back as quickly as possible. Our team of experienced professionals is dedicated to providing exceptional customer service and accurate tax filing, so you can rest assured that your refund is on its way. Contact us today to learn more about our services and how we can help you with your tax needs.

To check the status of your Ohio state tax refund, follow these steps

1. Visit the Ohio Department of Taxation website.
2. Enter your Social Security number, date of birth, and tax type.
3. Indicate whether it’s an amended return or not.
4. Click “Submit” to view your refund status.
5. Alternatively, you can call the Ohio Refund Hot Line at 1-800-282-1784.

If you opted for direct deposit on your original return, your refund should arrive within 15 business days. However, paper returns take around 8-10 weeks to process. If you haven’t received your refund within the given time frame, use the “Check My Refund Status” option on the website.

What can cause a delay in my Ohio refund?

There are several reasons why your Ohio refund may be delayed, including the following:

• Errors on your tax return.
• Unpaid assessments by you or your spouse if filing jointly.
• Money owed to the IRS by you or your spouse if filing jointly.
• Money owed for back child support by you or your spouse if filing jointly.
• If you or your spouse file jointly, money is owed for overpayment of public assistance.

Need more Ohio state refund and income tax information?

For additional information regarding Ohio state refunds and taxes, please visit the Ohio Department of Taxation’s website and their frequently asked questions page at https://tax.ohio.gov/wps/portal/gov/tax/help-center/faqs .

Need more income tax guidance?

If you require additional assistance with your tax filing, apc1040 offers two options. You can either schedule an appointment with one of our experienced tax professionals or opt for our online tax filing products available through December. We are committed to providing the tax preparation services to ensure a smooth tax filing process.

Where’s my federal refund?

Are you eagerly anticipating your federal tax refund and wondering, “Where’s my federal refund?” apc1040 can help you find out. It can be frustrating to wonder when your money will arrive. Fortunately, there are ways to check the status of your individual tax returns refund online. With the IRS’s “Where’s My Refund?” tool, you can enter your Social Security number, filing status, and refund amount to find out the status of your refund. This tool is available 24 hours a day, seven days a week, and can provide updates on when you can expect to receive your refund. Stay informed and check the status of your federal refund today.”

OR

If you’re wondering, “Where’s my federal refund?” you’re not alone. Many taxpayers eagerly await their tax refund from the government each year. The good news is that there are several ways to track the status of your refund, including using the IRS’s “Where’s My Refund?” tool. This tool allows you to check the status of your federal tax refund status online, by phone, or by using the IRS2Go mobile app. You’ll need to provide your Social Security number, filing status, and the exact amount of your expected refund to use the tool. With a little bit of patience and the right resources, you can easily track the progress of your refund and plan for its arrival.”

Income Tax Refund Expectations

Several factors can influence the timing of your tax refund. While the IRS strives to issue refunds as quickly as possible, taxpayers should avoid relying on receiving a refund by a particular date. Particularly when making significant purchases or paying bills. In some cases, returns filed electronically or on paper may require manual review. Such as detecting a possible calculation error, missing information, or suspected identity theft or fraud, which can delay the process. Most importantly, it is recommended to file early and electronically for a more secure and straightforward process.

Taxpayers who file on paper should wait eight weeks from the date filed before contacting IRS Center to check on the status of a return. They should be ready to provide their social security number, zip code, and filing status reported on their returns when inquiring about their refunds.

We are here to help you file your income taxes:

Above all, you need a tax pro who will work with you to understand your requirements and goals. We are that firm with tax pros wo have the necessary qualifications. Moreover, we acknowledge your success is our success. Our exceptional Tax Preparer Professionals are available to assist you with your Tax Preparation, whatever your needs are.

Finally, our tax pros are happy to answer your FAQs questions. We will provide assistance and customize our Accounting and Income Tax Returns just for you!

Contact our tax preparers today at (330) 733-1040 to get started or visit our local office in Ohio. It is your option to meet face-to-face or drop off your taxes. Our Tax Professionals will help you obtain with the tax filing process.

We look forward to working with you with your income tax preparation! Check us out on YouTube, FaceBook and our other important links on the web.