Who Should Have Professionally Prepared Tax Returns?
Any corporation, partnership, LLC, or individual with non W-2 income including self-employment, rental property or significant stock or bond income.
Anyone with itemized deductions such as:
- Medical expenses that exceed 7.5% of total income
- Other medical expenses such as self-employed health insurance or health savings accounts
- Deductible income taxes and property taxes on all real estate
- Interest expense on personal residence mortgage or other residential property
- Investment interest
- Contributions