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Wednesday, January 14, 2015 9:00am to 4:00pm Personal and Business Tax Return Analysis The Basics Facilitated by David Osborn, MBA The upcoming tax season is upon us! Attend this proactive seminar
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How to fill out personal and business tax:

01
Gather all necessary documents and paperwork such as W-2 forms, 1099 forms, receipts for deductible expenses, and any other relevant financial records.
02
Determine your filing status (single, married filing jointly, etc.) and gather all personal information required for your tax return, including your social security number, address, and date of birth.
03
Calculate your total income for the tax year, including any wages, self-employment income, rental income, investment income, and other sources of income.
04
Deduct any eligible expenses, such as business expenses for self-employed individuals, qualified medical expenses, mortgage interest, and charitable contributions.
05
Determine which tax deductions and credits you qualify for, such as the Earned Income Tax Credit, Child Tax Credit, or education-related deductions.
06
Fill out all relevant tax forms, such as Form 1040 for personal taxes or Schedule C for business taxes. Ensure that all information provided is accurate and complete.
07
Double-check all calculations and review the completed tax forms for any errors or missing information.
08
Sign and date your tax forms, and include any necessary payment if you owe taxes. If you expect a refund, provide your bank account information for direct deposit.
09
Keep copies of all the completed tax forms, supporting documents, and receipts for your records.

Who needs personal and business tax:

01
Individuals who have earned income through employment, self-employment, investments, or other sources are required to file personal taxes.
02
Individuals who operate their own business or are self-employed are also required to file business taxes in addition to their personal taxes. This includes individuals who earn income as independent contractors, freelancers, or sole proprietors.
03
Corporations, partnerships, and other types of business entities are also required to file business taxes.
04
Even if you do not meet the income thresholds to file a tax return, it may still be beneficial to do so in order to claim tax credits and deductions that could result in a refund or reduce your tax liability in the future.
05
It is advisable to consult with a tax professional or use tax software to ensure accurate and timely filing of both personal and business taxes.
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Personal tax is the tax paid by individuals on their income, while business tax is the tax paid by businesses on their profits.
Individuals are required to file personal tax, while businesses are required to file business tax.
Personal and business tax can be filled out by providing accurate information about income, expenses, deductions, and credits.
The purpose of personal and business tax is to fund government services and programs.
Income, expenses, deductions, and credits must be reported on personal and business tax.
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