Frequently Asked Questions
As with everything, we understand you have questions.
The following are some of the most frequently asked questions by new clients
What makes B&H Tax Consultants better than other tax consultants?
When it comes to tax preparation and filing, B&H Tax Consultants are the best around. With their expertise in taxes, they make the process quick, easy, and simple. They are skilled at navigating through complicated tax forms without ever losing a single detail. This means that your taxes are always filed correctly and on time. In addition to this, their staff is friendly yet professional – something that is hard to come by in other tax consultants.
Why switch from my current tax preparer?
Firstly, your taxes seem to take forever to file and it’s nearly impossible to get in touch with someone when you need clarification or assistance. Secondly, mistakes made by the tax consultant have resulted in you being audited more than once and that’s very stressful. Lastly you have used the same tax consultant for years, but the experience has not been satisfactory.
What if I am extremely busy, not in the area, or unable to attend an appointment at the B&H Tax Consultant office?
B&H Tax Consultants provide a secure drop-it-off speedy email service where you can transmit your papers and documents remotely. There’s no need to be concerned about missing crucial time at work. With our new secure email drop-it-off speedy filing option, we can prepare your taxes.
Frequently Asked Questions
What documents should I bring to my B&H Tax Consultants appointment?
A state government issued photo ID or passport
For Additional Child Tax Credit (ACTC) bring child’s DOB and social security number
All W-2 issued forms, all 1099 issued forms, all 1098 issued forms, all 1099-K forms
Any relevant bank statements, expense receipts, and payment receipts
Call our office and we can give you specifics as to additional documents if needed.
What is the standard deduction for 2022?
The standard deduction amounts for 2022 are:
Single and Married Filing Separately: $12,950
Married Filing Jointly: $25,900
Head of Household: $19,400
How long does it take to get my tax refund?
The IRS issues most refunds in less than 21 calendar days from the day the tax return is processed.
If you claim or don’t claim Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) and expect to receive a refund, you’ll have to
wait 21-31 calendar days from the day the tax return is processed if using the post office to receive a tax refund.
Although most of our clients received their returns in around 10-15 calendar days by using B&H Tax Consultants e-filing tax preparation bank
direct deposit service.
What is the child tax credit (CTC) for 2022?
The Child Tax Credit offers a maximum $2,000 per qualifying child. The maximum income (AGI) to receive the full credit varies depending on filing
status as follows:
Single: $200,000 or less
Married filing jointly: $400,000 or less
Head of household: $200,000 or less
Married filing separately: $200,000 or less
If your AGI is more than the figures listed above, you still may be eligible to receive a partial credit. The limits at which the Child Tax
Credit disappears are as follows:
Single: More than $240,000
Married filing jointly: More than $440,000
Head of household: More than $240,000
Married filing separately: More than $240,000
Did the (CTC) child tax credit change from 2021?
The American Rescue Plan raised the maximum Child Tax Credit in 2021 to $3,600 for qualifying children under the age of 6 and to $3,000 per child for qualifying children ages 6 through 17. Before 2021, the credit was worth up to $2,000 per eligible child, and 17 year-olds were not eligible for the credit.
The Child Tax Credit changes for 2022 have lower income limits than the original Child Tax Credit. Families that do not qualify for the credit using these income limits are still eligible for the $2,000 per child credit using the original Child Tax Credit income and phase-out amounts.
In addition, the entire credit is fully refundable for 2022. This means that eligible families can get it, even if they owe no federal income tax.
Will I be able to receive an additional child tax credit? (ACTC) or (CTC)
The Child Tax Credit is worth up to $2,000 for each child who meets the following requirements:
The child is younger than age 17 at the end of the tax year.
The child is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, grandchild, niece, or nephew.
You claim the child as a dependent.
The child doesn’t provide more than half of their own support.
The child lived with you for more than half of the year.
The child is a U.S. citizen, U.S. national, or U.S. resident alien.
The child doesn’t file a joint return with anyone else, unless the only reason they file a return is to claim a refund of taxes withheld or estimated taxes paid.
Contact Us
Contact us to schedule your appointment today. Walk-ins are also welcome.