Accounting Appointment | 2015 Tax Return Outline

Our accountant prepared our 2015 tax return. This is what we then received from her.

  • A copy of our 2015 Form 1040 as well as all copies of additional forms needed to configure our wages, expenses, and deductions. She e-filed our return for us. Our refund is to be deposited electronically into our account.
  • 2015 Individual Income Tax Payment Form with addressed envelope. She configured our amount due.
  • 2016 Estimated Quarterly Tax Payment Forms with addressed envelopes. She configured our amounts due.

She configured our:

  • Total Wages + our Business Income (from our W-2’s and 1099’s)
  • Deductible part of Self-Employment Tax
  • Adjusted Gross Income
  • Itemized Deductions & Exemptions
    • This brought our Taxable Income down a lot.
  • Taxable Income
  • Education Credits
  • Total Credits
  • Self-Employment Tax
  • Health Care Fine
  • Total Tax
  • Federal Income Tax Withheld (from our W-2’s)
  • Refund (Yay!)
  • State Income Tax Due

Our return covered our:

  • Self-Employment Tax
  • Health Care Fine
  • These payments due are already taken care of through our tax return. We don’t need to do anything else with them.

However, we are responsible for sending in our State Income Tax payment (she configured this amount for us). We’re to receive a refund (yay!), and our refund will cover this payment due. Our refund is to be deposited into our account within the next two weeks. We will then pay our State Income Tax. The deadline to pay this is April 18th.

Hopefully this is helpful and informative to those of you who are not quite sure what to do for your tax return!

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