Tax Preparation Frequently Asked Questions
Below you'll find answers to common questions about tax filing, extensions, dependents, refunds, W-2s, 1099 income, self-employment, business taxes, documents, appointments, prior-year returns, and amended tax returns.
Tax situations vary, so these answers provide general information rather than individualized tax advice.
Have questions about preparing your taxes?
General Tax Preparation Questions
What tax preparation services do you offer?
We assist qualifying individuals and businesses with services including:
- Individual tax preparation
- W-2 tax preparation
- 1099 tax preparation
- Self-employed tax preparation
- Independent contractor taxes
- Small-business tax preparation
- LLC tax preparation
- Partnership tax preparation
- S corporation tax preparation
- Corporate tax preparation
- Rental-property tax preparation
- Prior-year tax preparation
- Amended tax returns
- Other applicable tax preparation services
View All Tax Preparation Services
Do you prepare both individual and business tax returns?
Yes. We offer tax preparation for qualifying individual taxpayers and businesses.
Business tax preparation may include applicable sole proprietorships, LLCs, partnerships, S corporations, corporations, and other qualifying small businesses.
Where are you located?
Our office is located at:
- Nelson Capital Financial Services
- 3700 34th Street, Suite 100P
- Orlando, FL 32805
- Get Directions
What areas do you serve?
We serve clients throughout Orlando and Central Florida, including Orlando, Kissimmee, Winter Park, Winter Garden, Ocoee, Apopka, Altamonte Springs, Sanford, Lake Mary, Clermont, Davenport, St. Cloud, Lake Nona, Dr. Phillips, Windermere, Deltona, DeLand, and surrounding communities.
Tax Filing Deadline Questions
When is the deadline to file my taxes?
Federal tax filing deadlines can vary by year, return type, weekends, holidays, disaster relief, and other circumstances.
Because deadlines can change, check the current IRS filing deadline for the applicable tax year rather than relying on an old article or previous year's date.
If you have a business return, your applicable deadline may differ from the deadline for an individual return.
What happens if the tax deadline falls on a weekend or holiday?
Applicable filing deadlines can be affected by weekends and legal holidays.
Check current IRS guidance for the specific tax year and return involved.
Should I wait until the deadline to contact a tax preparer?
No.
Contacting a tax preparer early gives you more time to:
- Gather documents
- Identify missing forms
- Organize business records
- Address questions
- Review the return
- Handle unexpected issues
Waiting until immediately before a deadline may limit appointment availability and the amount of time available to complete the work.
Tax Extension Questions
Can I get an extension to file my tax return?
Depending on the return and circumstances, an extension of time to file may be available.
An extension generally concerns additional time to file the applicable return. It should not automatically be interpreted as additional time to pay tax that is due.
Does a tax extension give me more time to pay?
Generally, a filing extension and a payment deadline are not the same thing.
If tax may be owed, do not assume that requesting an extension eliminates or postpones applicable payment obligations.
Will filing an extension increase my chance of being audited?
An extension is an established tax-filing procedure. Whether a return is examined depends on numerous factors.
Do not avoid a necessary extension solely because of unsupported claims that an extension automatically causes an audit.
Can you help me if I filed an extension?
Yes, we may assist qualifying taxpayers with preparing a return after an extension has been filed.
Bring information concerning the extension and any applicable payment made with it.
Documents Needed
What documents should I bring to my tax appointment?
Documents depend on your particular situation.
Common records may include:
- Government-issued identification
- Prior-year tax return
- W-2 forms
- 1099 forms
- Dependent information
- Business income and expense records
- Rental-property records
- Retirement-income documents
- Investment-related tax documents
- Estimated tax payment information
- IRS or state tax-agency notices
- Other applicable documents
View Complete Documents Needed Checklist
Do I need my previous year's tax return?
Having your previous return available can be helpful, particularly for a new client.
It may provide information about:
- Prior filing status
- Dependents
- Carryforward items
- Business activity
- Rental property
- Prior elections or tax treatment
- Other relevant information
What if I lost my W-2?
Don't simply guess the numbers.
Depending on the circumstances, you may need to contact your employer or use other appropriate procedures to obtain the information necessary to prepare the return.
What if I lost a 1099?
Contact the payer when appropriate and determine what information is available.
A missing form does not necessarily mean that applicable income can be omitted from a tax return.
What if I have a lot of business receipts?
Organize your records before your appointment whenever possible.
Separating expenses into meaningful business categories can make the preparation process more efficient.
Do not create or estimate unsupported expenses merely because documentation is incomplete.
W-2 Questions
Can you prepare my taxes if I only have a W-2?
Yes. We prepare qualifying individual tax returns for W-2 employees.
View Individual Tax Preparation
What if I have several W-2s?
Bring all applicable W-2 forms.
Working for several employers during the year can result in multiple W-2s that may need to be included on the return.
What if I forgot a W-2 and already filed?
Depending on the circumstances, the return may need to be reviewed to determine whether a correction or amended return is appropriate.
1099 & Self-Employed Questions
Do you prepare 1099 taxes?
Yes. We provide tax preparation for qualifying independent contractors, freelancers, consultants, gig workers, rideshare drivers, delivery drivers, and other self-employed taxpayers.
View 1099 & Self-Employed Tax Preparation
What if I have both a W-2 and a 1099?
Many taxpayers receive both employee wages and independent income.
Bring all applicable W-2s, 1099s, and records associated with your self-employment or business activity.
Do I have to report income if I didn't receive a 1099?
Tax reporting obligations are not determined solely by whether a particular information form was received.
Provide complete information about your income so the appropriate reporting treatment can be determined.
Can I deduct my business expenses?
Qualifying ordinary and necessary business expenses may receive applicable tax treatment, but not every purchase or payment is automatically deductible.
The treatment depends on the expense, business purpose, documentation, and applicable tax rules.
Can I deduct my car?
Business use of a vehicle may have tax consequences depending on the circumstances and applicable rules.
Keep appropriate mileage and vehicle records rather than assuming the entire cost of a vehicle is deductible.
Can I claim a home-office deduction?
Eligibility depends on the taxpayer's circumstances and applicable requirements.
Working from home does not automatically make every household expense deductible.
What is self-employment tax?
Certain net earnings from self-employment may be subject to self-employment tax in addition to other applicable income-tax considerations.
The actual calculation depends on the taxpayer's circumstances.
Dependent Questions
Who can I claim as a dependent?
Dependent eligibility is determined under applicable tax rules and depends on factors that may include:
- Relationship
- Age
- Residency
- Support
- Income
- Student status
- Filing circumstances
- Other applicable requirements
Being related to someone does not automatically mean that person qualifies as your dependent.
Can both parents claim the same child?
Generally, the same qualifying child cannot simply be claimed independently by two taxpayers for the same tax benefits when the rules do not permit it.
Special rules may apply depending on custody, residency, agreements, releases, and other circumstances.
Provide complete information so the appropriate treatment can be determined.
Can I claim my adult child?
Possibly, depending on the applicable dependent rules and the facts involved.
Age, student status, income, support, residency, and other factors can matter.
Can I claim my parent?
In some circumstances, a parent or other qualifying relative may meet applicable dependent requirements.
Eligibility depends on the facts and applicable tax rules.
Can I claim a child who does not live with me?
Residency and relationship rules can be important when determining eligibility.
Do not claim a dependent based solely on financial support without reviewing the applicable requirements.
Tax Credit Questions
Will I qualify for the Child Tax Credit?
Eligibility depends on applicable law for the tax year and your circumstances.
Factors can include the child's eligibility, age, relationship, residency, identification requirements, income, and other rules.
Can I claim education tax credits?
Certain qualifying education expenses may potentially be relevant to available education tax benefits.
Eligibility depends on the taxpayer, student, institution, expenses, and applicable requirements.
Can you guarantee that I qualify for a tax credit?
No.
We do not guarantee eligibility for a deduction or credit before reviewing the relevant information and applicable requirements.
Tax Refund Questions
How long will my tax refund take?
Refund processing times can change and depend on the return, filing method, IRS processing, identity verification, credits claimed, errors, reviews, and other circumstances.
We do not guarantee a specific refund date.
How can I check my federal tax refund?
Use the official IRS refund-status resources to check the status of a federal refund.
What does “return accepted” mean?
Acceptance generally indicates that the electronically filed return passed the initial acceptance process.
It does not necessarily mean that a refund has been approved or issued.
Can you guarantee my refund amount?
No.
A legitimate tax return should be prepared from complete information and applicable tax rules. We do not guarantee a particular refund before the return is properly evaluated.
Why is my refund smaller than I expected?
Possible reasons can vary and may involve:
- Tax liability
- Withholding
- Estimated payments
- Credits
- Income
- Changes from prior years
- Government adjustments
- Certain outstanding obligations
- Other factors
The actual reason depends on your return and circumstances.
Why is my refund delayed?
A refund can be delayed for many reasons, including:
- Return errors
- Missing information
- Identity verification
- Additional IRS review
- Certain claims or credits
- Paper processing
- Amended-return processing
- Other administrative issues
Does paying a tax preparer guarantee a refund?
No.
Tax preparation fees pay for preparation services. They do not guarantee that the taxpayer is entitled to a refund.
Appointment Questions
Do I need an appointment?
Scheduling is recommended so appropriate time can be reserved for your tax needs.
Can I schedule online?
Yes. Use our online appointment page to select an available appointment.
Book an Appointment
Do you offer in-person appointments?
Yes, select an available in-person appointment when scheduling.
Can I schedule a phone appointment?
Phone appointments may be selected according to available scheduling options.
Do you offer virtual tax appointments?
Virtual appointments may be selected when available.
How should I prepare for my appointment?
Before your appointment:
Gather your tax documents.
Review the Documents Needed checklist.
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Organize business or rental records.
Gather prior returns when applicable.
Securely upload requested documents.
Prepare general questions you want to discuss.
What if I need to reschedule?
Use the rescheduling instructions in your appointment confirmation or contact the office.
Any applicable cancellation or rescheduling policy should be reviewed when booking.
Secure Document Upload Questions
Can I upload my tax documents online?
Use our designated secure client portal when online document submission is available.
Can I upload my W-2 through the normal contact form?
No.
Do not submit W-2s, Social Security numbers, complete tax returns, banking information, identity documents, or similar sensitive information through an ordinary contact form.
Can I email my Social Security number?
Do not send highly sensitive information through ordinary unsecured email.
Use the secure process designated by our office.
Can I send a picture of my driver's license through the contact
form?
No. If identification documentation is requested, use the designated secure submission process.
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Business Tax Questions
Do you prepare LLC tax returns?
We prepare qualifying business returns involving LLCs.
However, LLC is a legal structure and does not by itself determine the federal income-tax return required.
Depending on ownership and applicable elections, an LLC may potentially be treated for federal tax purposes as a disregarded entity, partnership, S corporation, or corporation.
Do you prepare S corporation returns?
We assist with qualifying S corporation tax preparation.
Business records should be organized before the appointment.
Do you prepare partnership returns?
We assist qualifying partnerships with tax preparation.
Do you prepare corporate returns?
We provide qualifying corporate tax preparation within the scope of our services.
What should I bring for my business tax return?
Applicable documents may include:
- Prior-year business return
- Profit and loss statement
- Balance sheet when applicable
- Revenue records
- Expense records
- Payroll information
- Contractor information
- Asset information
- Ownership information
- Entity information
- Other applicable business records
Rental Property Questions
Do you prepare tax returns for landlords?
Yes, we assist qualifying rental-property owners with tax preparation.
What rental-property records should I keep?
Depending on your situation, applicable records can include:
- Rental income
- Property management statements
- Repairs
- Maintenance
- Insurance
- Property taxes
- Mortgage-related tax documents
- Improvements
- Purchase information
- Prior depreciation information
- Sale documents
Not every payment associated with a rental property receives the same tax treatment.
Prior-Year / Back Tax Questions
What if I haven't filed taxes for several years?
Start by identifying which years may be unfiled and gathering the available documents for each year.
We assist qualifying taxpayers with preparing prior-year returns.
View Prior-Year & Back Tax Preparation
Should I combine several years into one tax return?
No. Each applicable tax year generally has its own return and tax rules.
Organize records separately by year.
What if I don't have all my old W-2s and 1099s?
There may be methods for obtaining or reconstructing applicable information depending on the circumstances.
Do not simply invent missing income or withholding figures.
Will filing my old returns eliminate penalties and interest?
Not necessarily.
Preparing and filing an unfiled return is different from guaranteeing elimination of tax, penalties, interest, or collection issues.
Can I still get a refund from an old tax return?
Refund claims can be subject to time limits and other requirements.
Do not assume an old refund remains available indefinitely.
Amended Tax Return Questions
What is an amended tax return?
An amended return is generally used when an already-filed return needs an applicable correction after filing.
When might I need to amend my return?
Possible situations can include:
- Missing W-2
- Missing 1099
- Corrected tax document
- Incorrect income
- Dependent issue
- Filing-status issue
- Applicable deduction or credit correction
- Business-income correction
- Other material changes
Not every error automatically requires an amendment.
Can you amend a return prepared by another tax preparer?
We may be able to assist after reviewing the complete originally filed return and the information that may need correction.
Do I need the original return?
A complete copy of the originally filed return is important when evaluating an amendment.
Will amending my return give me a larger refund?
Not necessarily.
An amendment can potentially result in additional refund, additional tax, or another change depending on the correction.
We do not guarantee the outcome.
IRS Notice Questions
What should I do if I receive an IRS letter?
Do not ignore it.
Read the complete notice, note any response deadline, and keep every page and attachment.
If you request assistance, provide the complete notice through an appropriate secure method.
Should I panic if I receive an IRS notice?
An IRS notice can be issued for many different reasons.
The appropriate response depends on what the notice actually says, so review the specific correspondence rather than assuming what it means.
Can you represent me before the IRS?
Tax preparation and formal IRS representation are different services.
We only provide services within our applicable qualifications and authorization. Certain matters may require an appropriately authorized tax professional.
Tax Preparation Fee Questions
How much does tax preparation cost?
Fees depend on the type and complexity of the return and services required.
Factors may include:
- Number of tax forms
- Self-employment
- Business activity
- Entity type
- Rental properties
- Multiple tax years
- Amended returns
- Condition of records
- Additional preparation required
Is every tax return the same price?
No. Tax situations can differ significantly.
Does my refund determine your fee?
The amount of a refund does not by itself determine how complex a tax return is to prepare.
Privacy & Security Questions
How do you handle sensitive tax documents?
Sensitive tax information should be submitted through the designated secure process provided by our office.
We recognize that tax documents can contain confidential personal and financial information.
Should I put my Social Security number in a website message?
No.
Do not place Social Security numbers, banking information, tax documents, or identity information in ordinary website contact messages.
What should I do if I have trouble accessing the client portal?
Contact our office and explain that you're having an access problem.
Do not send the sensitive documents through an unsecured alternative simply because you're experiencing a portal issue.
Still Have Questions?
Your tax situation may involve circumstances that aren't covered by a general FAQ.
Contact us or schedule an appointment so we can better understand the tax preparation services you need.
Ready to Get Your Taxes Prepared?
Don't wait until the last minute to organize your tax documents.