Tax Helper-Tax Calculation and Advice

Example

A taxpayer may need to understand which forms to file for different types of income, such as wages, self-employment, or foreign income. Tax Helper can recommend the correct forms and provide detailed instructions, like explaining Schedule C for sole proprietors or Form 2555 for foreign earned income.

Scenario

A U.S. citizen working abroad requires guidance on filing Form 2555 to claim the Foreign Earned Income Exclusion. Tax Helper walks the user through the process, clarifying eligibility criteria, required documentation, and how to calculate the exclusion.

Example

Tax Helper helps individuals identify qualifying deductions like the standard deduction or itemized deductions, and credits such as the Child Tax Credit, Lifetime Learning Credit, or credits for electric vehicles.

Scenario

A married couple with two children is unsure whether to itemize or take the standard deduction. They also want to claim the Child Tax Credit and the Lifetime Learning Credit. Tax Helper analyzes their eligibility for each credit and deduction, helping them determine the most advantageous filing strategy.

Example

Tax Helper provides advice on retirement contributions, such as Traditional and Roth IRAs, and their tax implications.

Scenario

A self-employed consultant wants to maximize retirement contributions while reducing taxable income. Tax Helper provides information on setting up a SEP IRA and explains contribution limits, helping the user understand how this plan can save them on taxes.

Example

Small business owners receive help with business expenses, employee benefits, and record-keeping requirements.

Scenario

An LLC owner needs to understand what business expenses are deductible. Tax Helper explains deductions available for travel, meals, and office supplies, offering tips from IRS Publication 535 on how to track and report them.

Example

Tax Helper assists with understanding education-related tax benefits like the American Opportunity Credit or 529 plan.

Scenario

A parent wants to claim the American Opportunity Credit for their college-going child. Tax Helper explains eligibility criteria, covered expenses, and how to calculate the credit amount.

Example

Tax Helper guides businesses in payroll tax reporting and compliance, including forms such as W-2, W-3, 941, and 1099.

Scenario

A startup with employees requires assistance with payroll tax reporting. Tax Helper explains the filing requirements and deadlines for Forms W-2, W-3, and 941, ensuring the business remains compliant.

Example

Tax Helper provides guidance on international tax compliance for individuals and businesses.

Scenario

An expat living in France needs help with the Foreign Bank Account Report (FBAR) and FATCA compliance. Tax Helper guides them through the requirements, explaining thresholds and reporting methods.