Tax 101
What qualifies as a "simple return"?
Single 1040 only
Single or Joint 1040 w/o extra schedules
Joint 1040 only
What is a 1040 form?
U.S. Tax Return for Seniors
Wage and Tax Statement
Miscellaneous Income
U.S. Individual Income Tax Return
What is a W-2 form?
Withholding Certificate for Pension or Annuity Payments
Employee's Withholding Certificate
Wage and Tax Statement
U.S. Individual Income Tax Return
What is a W-4 form?
Withholding Certificate for Pension or Annuity Payments
Employee's Withholding Certificate
Certain Government Payments
Interest Income
What is a 1099-MISC form?
Certain Government Payments
Interest Income
Miscellaneous Income
Dividends and Distributions
What is a schedule A form?
An income schedule that requires you to separately list the sources of interest and dividend payments you receive during the year (2023 IRS Threshold is >$1500)
A tax form that you can use to itemize deductions, rather than claim the standard deduction
A tax form that you use to report self-employment income
A tax form used to report selling a capital asset (ex: gains/losses from selling stocks, selling homes/cars, etc.)
What is a schedule B form?
A tax form that you can use to itemize deductions, rather than claim the standard deduction
A tax form used to report selling a capital asset (ex: gains/losses from selling stocks, selling homes/cars, etc.)
A tax form that you use to report self-employment income
An income schedule that requires you to separately list the sources of interest and dividend payments you receive during the year
What is a schedule C form?
A tax form used to report selling a capital asset (ex: gains/losses from selling stocks, selling homes/cars, etc.)
An income schedule that requires you to separately list the sources of interest and dividend payments you receive during the year
A tax form that you can use to itemize deductions, rather than claim the standard deduction
A tax form that you use to report self-employment income
What is a schedule D form?
A tax form used to report selling a capital asset (ex: gains/losses from selling stocks, selling homes/cars, etc.)
A tax form that you can use to itemize deductions, rather than claim the standard deduction
A tax form that you use to report self-employment income
An income schedule that requires you to separately list the sources of interest and dividend payments you receive during the year
What is a schedule E form?
A tax form that asks information about certain rental and royalty income, real estate investments, and pass-through business income
A tax form that you can use to itemize deductions, rather than claim the standard deduction
An income schedule that requires you to separately list the sources of interest and dividend payments you receive during the year
A tax form to commit tax fraud
Who is doing tax intakes on Mondays?
Joell Slifko
Tiffany Rayer
RaeLynn Niblack
Trey Basa
Lauren Dietz
How much is a simple 2023 tax return?
$350
$150
$200
$210
Who does MAG tier 4-6 client taxes?
Tiffany Rayer
Joshua Cicora
Robert Carr
Lauren Dietz
How much of a discount do MAG tier 1 clients get on taxes?
Half off total return (even with extra schedules, etc)
$25 discount on simple 1040 return (additional charges for extra schedules)
No discount for tier 1 MAG clients
$76 discount on simple 1040 return (additional charges for extra schedules)
Who does MAG tier 1-3 client taxes?
Joell Slifka
Tiffany Rayer
Lauren Dietz
Robert Carr
Who is doing tax intakes on Wednesdays?
Tiffany Rayer
Trey Basa
Joell Slifko
Lauren Dietz
RaeLynn Niblack
If a return is received after which date it MAY be extended?
March 1st
April 5th
March 15th
March 29th
If a return is received after which date it WILL be extended?
April 5th
March 15th
April 15th
March 29th
Who is doing tax intakes on Fridays?
Lauren Dietz
RaeLynn Niblack
Trey Basa
Tiffany Rayer
Joell Slifko
Who is doing tax intakes on Tuesdays?
Trey Basa
Tiffany Rayer
Joell Slifko
RaeLynn Niblack
Lauren Dietz
Who is doing tax intakes on Thursdays?
Lauren Dietz
Joell Slifko
RaeLynn Niblack
Trey Basa
Tiffany Rayer
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