Tampa, FL, December 01, 2009 --(PR.com
)-- 1040 Tax Mobile a reputable income tax preparation company in the State of Florida is offering end of year tax tips to busy singles and families looking to maximize their tax refunds this year and is helping the Hispanic community in the Tampa Bay area. Remember, it’s not too late to qualify for many 2009 tax credits… but time is running out.
* Pay your mortgage early. Pay your January mortgage payment on December 31st. This lets you take an additional deduction for mortgage interest paid.
* Donate. This is a great time of year to donate to local charities. Some, like Goodwill.org, accept cash, clothes, toys and electrical equipment donations.
* Close your new home purchase by December 1st. If you’re a new homebuyer who qualifies for the First Time Homebuyer’s credit and plan on buying a home this year, you must close on the home by December 1st, 2009 in order to claim the credit. (The Worker, Homeownership, and Business Assistance Act of 2009 extends the deadline for qualifying home purchases from Nov. 30, 2009, to April 30, 2010. Additionally, if a buyer enters into a binding contract by April 30, 2010, the buyer has until June 30, 2010, to settle on the purchase).
* Use up your flex spending accounts. Most flexible spending accounts do not carry money over from one year to the next. That means that if you don’t want to lose money, you should make your qualifying medical purchases now and get reimbursed before time runs out.
* Bill December clients in January. If you’re self-employed, you may be able to decrease your taxable income by billing work for December in January. Year end is also a great time to stock up on equipment and supplies. Remember, claiming eligible business expenses can reduce your total taxable income.
* Maximize contributions to your retirement fund. Make sure you’ve contributed the maximum amount of income to your retirement fund. This can also reduce your total taxable income.
* Prepay any property taxes. Prepay your 2010 property taxes before December 31st and you can deduct those taxes on your 2009 tax return.
1040 Tax Mobile is also committed in helping the Tampa Bay Hispanic community and will be providing Free of Charge - Tax ID (ITIN) application services for all immigrants who require this identification to file their tax returns for the calendar year of 2009. They have bilingual tax professionals that will help you for free to complete this process and will answer any questions you have on the new tax law changes for the 2009 tax year.
Why would anyone need an ITIN number and why do they want to file taxes?
* The ITIN will help undocumented immigrants open bank accounts, establish credit, buy car insurance, in some areas apply for home loans and generally enter the mainstream economy.
* Since money is being withheld from each paycheck to cover benefits for which the undocumented immigrant does not qualify, i.e. Medicare, Social Security, etc., they can recover some of the withheld dollars by filing a tax return and declaring the dependents that qualify. For instance, because of our treaties with Mexico and Canada, a Mexican national can claim all of the dependents he/she might be supporting in Mexico, as well as in the states.
* The undocumented immigrants can also file current year’s taxes, as well as the past three year’s returns and hopefully recover some of the monies that have been withheld over the years.
* Tax returns are an excellent means of proving length of time in the United States which is a requirement for citizenship.
* Because it is the law.
“Whether you are documented or undocumented immigrant, make this year the year you take action and file your taxes,” says Edward J. Dávila, founder of 1040 Tax Mobile. “We take our commitment to our Tampa Bay Hispanic Community very seriously,” he added. Through our Hispanic Service program, we provide highly trained, Spanish-speaking staff to assist the Hispanic community. We offer guaranteed better pricing compared to visiting any franchise chain or a CPA office. Take advantage of this opportunity during these tough economic times. Contact us at 877-248-3092 or visit us on the web at www.1040TaxMobile.com.
About 1040 Tax Mobile – 1040 Tax Mobile is an income tax preparation company operating in the Tampa Bay area. We offer trusted tax professionals that will thoroughly examine each customer's tax situation to get every deduction, credit, and tax advantage possible. 1040 Tax Mobile pledges our clients to provide the highest level of quality and tax preparation service by providing a personalized one-on-one service. Founded in 2007 in Miami, Florida, as a sub-division of Accounting Virtualization, LLC, 1040 Tax Mobile is now located and headquartered in Tampa, Florida. 1040 Tax Mobile offers individual income tax preparation, electronic filing, and electronic refund checks and deposits.
For more information, visit www.1040TaxMobile.com.