FREQUENTLY ASKED QUESTIONS!

Want to Prepare Like a Pro?

Attending a tax appointment can be daunting, being well-prepared makes the process smoother and more efficient. Here’s a comprehensive checklist of what to bring to ensure a productive session, especially if you’re in the Yuba-Sutter area or running any kind of business, from LLCs to home-based businesses.

Not Sure what's taxable or not?

Navigating the complexities of what is taxable and what is Not, can be challenging. Whether you’re an individual, a small business owner in the Yuba-Sutter area, or involved in more specialized areas like cryptocurrency trading or online businesses, understanding what falls under taxable income is crucial to any Business.  Let the staff at Nickell Tax give you a detailed description of what it taxable and what is not. 

Own Your Own Business?

A Profit and Loss Worksheet is not just a document; it’s a roadmap that guides you through understanding your business’s profitability.  complete this Business Profit and Loss Worksheet before your next tax appointment.

 

Own a Rental?

Owning a rental property involves more than just ownership; it’s a financial endeavor. Similarly, Schedule E isn’t just a tax form; it’s a vital tool for landlords. It tracks rental income and expenses, providing a clear picture of the property’s financial performance. Completing Schedule E before your tax appointment ensures you have a comprehensive overview for informed decision-making and maximizing tax benefits.

Own Your Own Farm?

Farm Schedule F isn’t just a tax form; it’s a vital tool for farmers to understand their financial performance. Similar to a Profit and Loss Worksheet, it outlines income and expenses related to farming activities, providing a clear picture of profitability. Completing Schedule F before your tax appointment ensures you have a detailed overview of your farm’s financial health for informed decision-making.

short on Time?

In the fast-paced world of today, we understand that time is a valuable asset. Whether you’re a small business owner, a busy professional, or juggling multiple responsibilities in the Yuba-Sutter area, our streamlined tax preparation process is designed for your convenience. Complete this Form and drop off your taxes. We will contact you once it is complete.

Am I required to file taxes for 2023?

If your gross income is more than the following you are required to file taxes...

 

Filing Single

 Under age 65                                                                             $13,850

 Age 65 or older                                                                        $15,700

Married and living together at end of 2023

 Filing a joint return – both under age 65                        $27,700

 Filing a joint return – one age 65 or older                     $29,200

 Filing a joint return – both ages 65 or older                  $30,700

 Filing a separate return (any age)                                      $ 5

Married and living apart at end of 2023

 Filing joint or separate return (regardless of age)      $ 5

Head of Household

 Under age 65                                                                             $20,800

 Age 65 or older                                                                        $22,650

Widowed in 2022 or 2023 and have a dependent child

 Under age 65                                                                           $27,700

 Age 65 or older                                                                       $29,200

How long does it take to get my refund?

Most refunds which are directly deposited into your bank account take approximately 7-21 days from the day your tax return is acknowledged by the IRS.

Refunds which are mailed to you can take anywhere from 4-12 weeks.

Can I pay for my tax return preparation fees out of my refund?

YES, contact us at 530-742-0283 for additional information about this program.

Note: There are additional fees associated with having your tax return fees withheld from your refund

How soon can I schedule an appointment? ​

You can schedule your appointment to get your taxes done as soon as you receive your income statements; i.e., W-2’s, 1099’s, unemployment, etc.

 Appointments available usually within the same day!

CALL 530-742-0283 to schedule your appointment.

Most appointments take about 20 minutes.  However, we recommend that you give yourself at least an hour window as some tax returns can be more involved than others

How Long will My Appointment Take?

Additional questions

What tax preparation services do you offer in the Yuba-Sutter area?

We Provide Comprehensive Tax Preparation Services, Including Handling Sales Tax. We Specialize In Self-Employment Taxes And Can Guide You Through Different Tax Brackets, Whether For 2023, 2024, Or Beyond. Our Services Are Tailored For Everyone, From Singles To Married Couples, And We Also Cater To Businesses, Trusts And Estates.

How can I calculate my tax brackets and deductions?

To understand your tax obligations, We help you navigate through tax brackets vs tax rates, standard deductions, tax credits, exemptions, and tax deductions. We also provide advice on tax brackets and social security considerations.

What should I consider for my small business tax preparation?

We offer tailored tax solutions for various business types including LLCs, partnerships, S Corporations, C Corporations, sole proprietorships, and non-profits. Our expertise also extends to rental property owners, real estate agents, eBay sellers, and more.

Are there specific tax preparation services for different professions in Yuba-Sutter?

Absolutely! We provide specialized tax preparation for cryptocurrency traders, forex traders, day traders, stock traders, truck drivers, nurses, teachers, clergy, military personnel, veterans, seniors, retirees, homeowners, landlords, home-based businesses, online businesses, and Etsy sellers.

What information do I need for effective tax preparation?

Key documents include those related to income, expenses, and any applicable deductions. Our team can advise on what documents you need for tax preparation and how much tax preparation costs. We also provide insights on choosing a tax preparation service and explain what tax preparation is and what a tax preparation fee entails.