vita this presentation is designed to: assist you in completing simple state of california tax...
TRANSCRIPT
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VITA This Presentation is designed to:
• Assist you in completing simple State of California Tax Returns.
• Provide a reference while using TaxWise software.
For tax law information please consult FTB 5130, Volunteer Reference Manual, or the 540 Booklet.
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What Publications Will Help? 540 Booklet Publication 1001 – California Adjustments Publication 1005 – Pension and Annuity Guidelines Publication 1540 – California Head of Household
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2014 ChangesExemption Credit Amount Increase
$108 for personal$333 for dependentsReview
• Child & Dependent Care Expense and Renter’s Credits are Non-Refundable
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Are You Ready?Let’s Begin!
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Let’s Look at TaxWise
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In the State Information Section, full year resident box, set CA as the default state.
Required Field for Direct Deposit
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Use 999999 when State ID number box is blank.
SDI is often found in Box 14 of the form W-2. Enter SDI amounts in boxes 19 and 20.
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Check to change social security and Medi-care income and tax amounts.
Check to change the amount of state wages.
Make sure to mark who the W-2 belongs to
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AND NOW FOR THE GOOD NEWS!
Most California tax information flows automatically from the federal return.
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When does TaxWise need your input? Let’s look at the
most frequently used screens.
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Renter’s Credit
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Renter’s Credit
Forms may be added or taken away from the return using this tool bar
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Every question on this form helps the software correctly calculate the Renter’s Credit.
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The renter’s credit amount on the worksheet may differ from the amount on the return.
Why?
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Child and Dependent Care
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Do we “Get the red out?”
Why is this important?The state
form requires unearned income information
.
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Interest
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Enter bank information on the Interest Statement for correct flow through in
TaxWise.
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Did the software tax the correct income for California? This form tells the tale.
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HOH Filing Status
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When filing a HOH return, the HOH Schedule is a required form for electronic filing
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HOH Schedule page 2
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Refunds
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Give the California 8879 form to the taxpayer to keep with their records.
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1. In order to create an e-file, there must be no errors in red under the Errors Heading2. The “create e-file” button is not available until all the errors have been fixed.
1
2
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Etc.
Use Tax
Voluntary Contributions
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Where do I get help?
Volunteer Hotline – 1.800.522.5665
Operating hours – Monday thru Friday
8 A.M. until 4:00 P.M.
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Questions?