LOTO INCOME TAX
$40 FOR SIMPLE TAX REPORT
(Apply to simple TAX Return only)
*Must be file by 2/28/2021
SIMPLE FORM:
- 1 W2
- Maximum Income 15,000
- No Dependents to claim
HOW IT WORKS?
2
Make an appoinment
Hours:
Monday – Saturday: 11am – 7pm
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Choose what suits you
If you prefer, we can help you to do your tax over phone or email
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SATISFACTION GUARANTEED
Maximum refound
Maximum refound in the shortest possible time
Deductions for you
We look for deduction that apply to you case according to IRS rules
Loto Income tax
Our name is new, but we had been in the business for more than 25 years.
Our motto is to serve with enthusiasm and dedication to make our work a “work of art”.
OUR GOLDE RULE:
Treat our customers in the same way that we would like to be treated.
—Loto Income Tax
WHAT OUR CLIENTS SAY ABOUT US?
“Excellent services, dedication & commitment has been delivering to myself and my family. I am a client since 1998.”
Marisela Martinez
“I always comeback, to this place to prepare my form, because they make feel safe and comfortable, and make to look easy and simply the process of filing the income tax report to the IRS.”
Antonio Sagastizado
“Friendly, professional, and amazingly effective services. I definitively recommend you them.”
John C.
AUTHORIZED SERVICES
Common Questions
NECESSARY DOCUMENTS
- The last W2 form or 1099 form
- Identificaction Card (driver license)
- Dependent Information
- Social Security Number
- School Record
- Inmunization Card
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Name
Birthdate
Who Must File Taxes in the United States?
Is all income taxable?
Most of the monetary income is taxable such as: salary, commissions, tips and fees, in addition to bonuses, prizes, and sometimes sickness or disability benefits.
What if I don't have a Social Security number?
If you don’t have a social security number then you need to apply for an ITIN number (Tax Id)
What is the itin number for?
The Personal Taxpayer Identification Number (ITIN) is a tax filing number available only to certain resident and nonresident aliens who do not qualify for a Social Security number.
If I am waiting for a refund from the IRS, how long should I wait?
If it has been more than 21 days since the IRS received your return and you have not received your refund, visit www.irs.gov, in the section “where is my refund”.
If I have to pay the IRS, when should I pay?
If the idea is to save fines, penalties, interest or to avoid increasing your debt, then you should fill out the tax report no later than the date that the IRS dictates each year. It is usually April 15th. It is also a good idea to at least fill out an extension before April 15, to avoid at least the penalty for not filing the taxes before the established date.
Can I trust you?
OF COURSE.
We are experienced, honest, and appreciative preparers for your patronage. We have the licenses required by the State of California, which allows us to perform this beautiful task of assisting you in the preparation of your taxes.
I have taxes from previous years that I have not reported, can you help me to report them?
The answer is yes. Each case is different, and needs to be treated individually. Make an appointment and we will answer all your questions.
What is an audit?
An IRS audit is a review or examination of the accounts and financial information of an organization or individual to ensure that the information has been properly reported, in accordance with tax laws, and to verify that the amount of taxes reported is accurate. 2020
Can I contact the IRS?
Yes. Online: www.irs.gov or by phone: 1800-829-1040
Whether you owe taxes or are waiting for a refund, you can find out the status of your tax return by:
- Use the tool to check the status of your refund from the Internal Revenue Service (IRS)
- Call the IRS at 1-800-829-1040 (press 2 for Spanish).
What is the Economic Impact?
The IRS sends economic impact payments. These payments are sent automatically for most people. However, some people who do not normally file a tax return will have to submit basic information to the IRS to receive their payment. Apr 22 2020
Where is my Economic Stimulus? Year 2020
The IRS is the only source for when and how your stimulus payment will be distributed. You can check the status of your first and second payments using the “Get My Payment” tool, available in English and Spanish on IRS.gov. Jan 11 2021
How much does tax preparation cost?
It depends on the complexity of the preparation. Some taxes only report earned income.
In others there is a need to add passive income, business income, sales, commissions, and tips in addition to declaring deductions that are related to the work performed.
Are there benefits for filing the tax early or consequence for filing it late?
The main benefit would be that if you report your tax early, and expect to receive a refund, you will receive your refund before others who decide to wait.
On the other hand, if you decide to wait after the deadline to file your taxes and you have to pay, you could receive a penalty in addition to an increase in your debt in interest.
What is exception, credit and deduction?
Tax exemption and deduction reduce what we pay to the Treasury. That is:
They reduce taxable income.
Credit in the world of taxes works differently, these are direct discounts applied to the result obtained after balancing numbers in a tax preparation. There are certain credits granted as an example, for being low income, for buying an electric car, etc.
I am Married, but I want to fill out the form as Married Separately, because we prefer to have our finances separate. Is this correct?
If you want to make separate reports, you could lose benefits that the estate grants compared to filling out the Married report reporting together. It is best to consult more carefully with a professional.
What receipts do I need to present and keep in the year, in order to write them off?
Understanding that write them off, for tax purposes, is to deduct expenses from taxable income, and that the deduction can be through the standard deduction (it can be between $ 12,400 and $ 24,800 in 2020) or make use of the itemized system, or either list deductions allowed and applicable to your specific case.
If you are a freelancer, you do not need itemize to list your expenses related to your taxable income. all expenses related to your work can be deducted on Schedule “C” and you could even deduct a breakfast that you ate with your business client. Save your receipts, gas, taxi payments, meeting expenses, materials, meals with clients, or everything that has been necessary to run your business.
How do I know if I need a professional to prepare my taxes?
You can prepare your taxes using free applications, or even on the same IRS page. Now, if your tax is very complex or you do not feel the confidence to do it yourself, look for us, it is our job. We understand the laws. We have experience and it will be a pleasure to serve you.
Schedule an Appointment
Phone
Contact us to (323)731-7149