Serving the Iowa City & Coralville area since 2002, a core specialty of Taxes Plus is the preparation of tax returns for individual taxpayers. Our enrolled agents have prepared and filed thousands of federal and state returns. We electronically file federal returns as well as those from all states at no additional charge.
We prepare tax returns for clients with:
- Clergy Income – including parsonage, housing allowances, self-employment tax adjustments, and retired clergy allowance.
- Farm Income & Expenses – sale or barter of livestock, produce & grains, cooperative distributions, agricultural program payments, weather-related sales, farm income averaging, CCC loans, crop insurance proceeds and federal crop disaster payments.
- Foreign Earned and/or Investment Income – Foreign Earned Income Exclusion, Foreign Tax Credit, Foreign Housing Exclusion or Deduction, and FBAR - Report of Foreign Bank and Financial Accounts
- Investment Income – interest, Original Issue Discount (OID), dividends and other distributions, nontaxable trades & like-kind exchanges, capital gains and losses; sale of stock, real estate, primary residence and etc.
- Itemized Deductions
- Casualty and theft losses
- Donations to charity, cash and non-cash
- Gambling losses
- Investment expenses
- Job related / unreimbursed employee expenses, and job seeking expenses
- Medical, dental and optical expenses
- Mortgage interest, points & mortgage insurance
- Taxes Paid – State and local income & sales taxes, real estate taxes and personal property taxes
- Non-Resident Status – whether one or multiple family members, or a part-year resident, Forms 1040NR
- Other Income – unemployment compensation, prizes and awards
- Rental Property – reporting of income, expenses, depreciation of assets.
- Retirement Income – distributions from pensions, annuities, IRAs, Social Security Benefits, military pensions and railroad retirement benefits.
- Royalty Income – oil, gas, or mineral properties, copyrights, patents, artists, inventors and writers.
- Schedules K-1 – issued by partnerships, S corporations, estates and trusts.
- Self-Employment Income – whether a business owner, independent contractor, or a freelancer, reporting of income (1099-MISC and/or receipts), cost of goods sold, expenses, depreciation, and self-employment taxes.