You’ve made a savvy choice by selecting ‘The Basic Tax Plan,’ tailored just for you! This plan is perfect for individuals and couples who are either employed, retired, or filing jointly, and don’t have any dependents or investments to worry about. Rest assured, our expert Tax Professionals at Prominent Tax & Business Solutions will go the extra mile to secure every credit and deduction you rightfully deserve.

Here’s a breakdown of what’s included in the basic plan and the optional add-ons:

Basic Tax Preparation Plan:

  1. Marital Status and Dependents: The basic plan covers individuals who are single or married filing jointly with no dependents. This means that if you’re either single or married and filing taxes together with your spouse, and you don’t have any children or other dependents, you’re eligible for the basic plan.
  2. Income Documents:
    • Up to 4 W-2 forms: These are wage and salary statements from your employers.
    • 1099 forms: Specifically, Form 1040, which includes different types of 1099s related to miscellaneous income, like freelance or contract work.
    • Unemployment 1099-G: This is for reporting unemployment compensation received during the tax year.
    • Gambling Winnings W-2G: If you’ve had gambling winnings, this form is included.
  3. Other Income:
    • 1099-MISC: Covers additional sources of income beyond wages, such as freelance work or self-employment.
    • Health Insurance Forms (1095-A, 1095-B, 1095-C): These forms relate to health insurance coverage you’ve had during the year.
  4. Investment Income:
    • Interest & Dividends: This includes forms related to interest earned on savings and dividends received from investments.
    • Schedule B: A form used to report interest and dividend income.
  5. Education Expenses:
    • 1098-T: This form provides information about tuition payments and education credits.
    • 1098-E: Covers student loan interest deduction.
  6. Standard Deduction:
    • The standard deduction is the amount that can be subtracted from your income to reduce your taxable income.
  7. State Return and Credits:
    • Preparation and filing of your state tax return.
    • State Credits: Any applicable state-level tax credits will be considered.
  8. E-Filing:
    • Electronic filing of your tax return, which is generally faster and more secure than paper filing.

Additional Options (with Extra Fee):

  1. Employee Stock Options:
    • If you have employee stock options (RSUs, ESOP, ISOs, NSOs, ESOs), there is an additional fee of $50 for their proper tax treatment and reporting.

Please note that the basic plan covers most common tax situations, while the additional options accommodate more complex scenarios. If you have any of the specific situations mentioned in the additional options, you would need to choose those options and pay the associated fees for a comprehensive and accurate tax preparation.