All right. We got less than a mh
before tax season is over and done with.
April 18th is Tax day.
So we have Ryan Dodson
with Liberty Tax services,
JW Degance with Jackson Hewitt
answering your tax related questions.
You can text us those questions.
The number is at the
bottom of your screen, the
336-379-5775. OK, we got lots of
questions coming in, this person says.
Is it OK to do your own taxes oe
10:40 easy form and can you stil
get forms at the post office, Rn
Tanya? Unfortunately not.
Can you still doing it easy?
Yes, absolutely you can. Still.
You do your tax return on the easy form?
Sure. Can you get those
forms at the post office?
No, unfortunately not everything
has now moved online,
so if you need access to them online,
it's just going to the library.
You can go to the library
and pull them off there.
However, the best answer at the
end of the day is just filing
your return electronically.
So whether.
You come see a paid professiona,
which will file your return electronically,
or if you use online software,
file it electronically as well.
It prevents a lot of errors.
Yeah, and in the two on a secti,
if you make under $73,000,
you can file for for free
electronically through the IRS.
We've got a link there for you
if you want to try and do that.
All right, JW, this person says if I have
income from Virginia and North Carolina,
my wife only has income from North Carolina.
Can we file our taxes together?
Yes. Yeah, absolutely.
You can specify which income
is for each person and which
state it was earned in.
So you absolutely can.
OK and maybe let's talk about t.
What's the difference in filing
jointly and filing separately? W
filing jointly you get to take advantage
of a lot more credits that thenu
wouldn't be able to like for instance,
earned income tax credit.
Maritime separately is if you really,
really just want your individual
information to be your own like.
You separate your taxes
from your spouse's taxes,
but it's most advantageous to
usually file Mary Fong jointly.
Okay, are there any?
Maybe I'm asking.
I'm asking all these other randm
questions just because I think o
myself it leaves it to the next thing.
Is there any reason why
you would file separately?
Yes, there could
be some reasons that you might
need to be able to file separat.
You know, it could be if maybe if they
had a debt and passed IRS debt t
they had maybe before they got married.
Might be one example I would think of.
But, you know, there might be se
situations, but for the most pa,
it's just better just to group it all
together and take advantage of the credits.
Okay. All right, Ryan, this pern
says if you're buying a house,
can you file it on your taxes?
Yes, you can claim mortgage
interest on your taxes.
You can claim any points that you paid
when you originally got your mortgage
on your taxes, the property tax,
all that can go on your taxes.
However, it is going to go onto a schedule
A and that is your itemized deductions
and be able to itemize your deductions.
You have to have almost $13,000 worth of
itemized deductions if you're single or or.
Almost 26 if you're married and
itemized deductions are things
like your mortgage interest,
your property taxes,
your charitable contributions,
and other taxes you may have pa,
like state income taxes and so forth.
So those are the main itemizati.
Gotcha. OK, but you can't, like,
write off how much you paid
for the house or anything
like that. No ma'am. No. OK
all right, this next question
is my 76 year old sister
passed away unexpectedly in
another state in Michigan.
I live in North Carolina.
Is someone required to
file taxes in her name? JW.
Yes. So I believe they're saying
if they if she passed away in 2,
it's important to file her tax return
and to get that taken care of.
So they may need to reach out there if they
they can probably still do it here locally.
If they have all the information you know
they're going to have to have like a power
return and executor like information,
be able to complete that
for the deceased person.
But it is important to get
that return filed for her.
This person says,
my husband and I have guardiansp
of our great granddaughter.
We don't work, we only get
Social Security benefits.
Are we allowed to receive
the child tax credit?
Tanya, this year the child tax credit
rules have reverted back to thee
COVID rules and which is basically you
can get the child tax credit ifu
have earned income and earned income is
income from like working like salary,
W2 wages or let's say you're selfemployed.
Those are examples of earned in.
Now if it was last year would have been
a completely different answer because
last year those requirements dit
exist because of the COVID rule.
You mean like the filing
your 2021 taxes in 22?
Okay, just want to make sure,
all right JW, this person
says I'm a widow as of 2021.
Can I file as head of householdI
have no dependents or do I file single.
So what you can do with being a widow
as of 2021, you can actually fie
qualified being a qualified widw
and you can do that for two yea.
And so that would be probably the best
advantageous filing status for you to do.
It is a very similar to
married filing joints.
You're taking advantage of those credits.
OK, someone's asking can you
claim a relative that lives
with you who doesn't work?
Yes, you can. It does depend up,
you know, how much income they ,
what their ages were, you know,
how long do they live with you?
Several different factors into whether
or not you can claim someone who
lived with you but but didn't work. Yeah.
Okay, we got about less than a minute.
Do you have to make a certain at
of money to not file taxes, JW
yes. So there are,
there are requirements for fili.
So I believe single,
it's around 12 thousand, $13,00.
If you make less than that,
you're not required to file andt
goes up to about 27,000 dependig
on if you're married filing joi.
But again, it might be advantags
for you to still file your tax
return to take advantage of
credits that you may deserve.
OK. And they say I haven't
gotten my 2021 taxes, what shoud
I do? 15 seconds you're going to
have to call the IRS. You havent
received them. Yeah get get a gt
into the IRS portal and set up
an account and see where it is.
Yeah. And that is the thing.
You need to create an account wh
the IRS and do everything onlin.
That's going to be the best way.
Thanks guys for your
wisdom and your expertise.
You can find a recap
of all of this in the two
wants to know section.