Filing Status
The most commonly used filing status when claiming dependents is?
Head of Houshold
As a P-TIN license holder, what 2 types of taxes will you primarily be filing?
Federal and State
What are 3 documents required to file any tax return?
ID, Social Security Card, Income Statement
At what age does the EIC credit phase out when claiming dependents?
17
What other way can you promote yourself if you aren't comfortable on camera?
Face to Face, Flyers, Business cards ect.
Which filing status should your client choose?
Trick question, it depends on their individual situation
In what year was EFP established?
2014
The Tax document received by an independent contractor to report income is called?
1099
How many dependent can a taxpayer receive EIC credit for?
3
If you have a limited marketing budget, what should you prioritize to help you market?
Dress code, Headshots, Marketing Materials
Which filing status should you try to avoid?
MFS or QW
The statute of limitations to file a tax return to claim a refund is when?
3 Years
Name the insurance form that has to be attached to the clients tax return if the insurance is through the marketplace
1095-A / Obama Care
How much support is required to be provided by a tax payer to be eligible to claim a dependent.
6 month and a day
True or False. Referrals will only come in if you pay your clients for them
False.
Name all 5 Filing Status's
S,HOH,MFJ,MFS,QW
The due date to file a tax return fall on which day in April?
April 15th
What form has to be completed when start a new employee position?
W4
True or False. If an adult dependent has earned income can they still be claimed by their parents?
True, if the parent can pass the 4 test.
How many main objections will you face when pitching your services to clients?
3
True or False, In most cases it is okay to have multiple taxpayers claim Head of Household with the same address.
False
By when should you have applied for your P-TIN license?
Dec 2nd
The American Opportunity Tax Credit (AOTC) is associated with which form?
1098-T
Name the four test for a qualifying dependent.
Relationship, Age, Residence, Support
In which city did we hold last years company event?
Atlanta