It’s that time again when individuals and business gather their documents and head off to an accounting firm in Houston to get help in preparing taxes. And while we’ve previously discussed what to bring to your bookkeeper or accountant, we decided to give a little tutorial for those of you who use any schedule forms when filing taxes.
Schedule A -Those of you who benefit from itemizing deductions rather than taking the standard deductions will use this form when having your taxes prepared.
Schedule B – If you have earned interest in a taxable 
amount or dividends that exceed $1,500, this schedule might come up. It is also used to report any income from a seller financed mortgage.
Schedule C – Business or corporate owners who have profit and/or loss to report will use this schedule. There is even a Schedule C EZ for simpler tax returns.
Schedule D – If you have capital gains or losses from stock sales or similar transactions, this is where you report them.
Schedule E – Additional supplemental income and/or losses are reported on this form which include rental property, royalties, partnerships, trusts, and S-Corps.
Schedule F – Ironically enough, the F in this form stands for farming. Use this tax form to report profits and losses.
Schedule SE – This is another commonly used tax form and schedule which is used for those who are self-employed and do not have a corporation. Since the rates are often higher, it is advisable to speak to a Houston bookkeeper on the costs vs. benefits of setting up a corporation.
And there are far more schedules and forms to know about during tax time, which is why many turn to a Houston accountant or bookkeeper to help them navigate tax preparation and make recommendations on how to save the most money. If you need to find a particular form or schedule before coming in for tax preparation, you can find the entire IRS database here.
amount or dividends that exceed $1,500, this schedule might come up. It is also used to report any income from a seller financed mortgage.