1998 IRS Forms

You will need Adobe Acrobat Reader (free software) to view and print these forms.

You can download any form you need directly from the IRS, as well.

Some browsers have been known to not display these forms properly. If this occurs to you, download the desired file and view it directly with Acrobat (rather than from your browser). (If you are using Windows 95 and Internet Explorer, right click and use the "save target as" option to download)

1040 Instructions

Schedule A&B

Schedule A&B Instructions

Schedule C

Schedule C Instructions

Schedule C-EZ

Schedule D

Schedule D Instructions

1999 IRS Forms

You will need Adobe Acrobat Reader (free software) to view and print these forms.

You can download any form you need directly from the IRS, as well.

Some browsers have been known to not display these forms properly. If this occurs to you, download the desired file and view it directly with Acrobat (rather than from your browser). (If you are using Windows 95 and Internet Explorer, right click and use the "save target as" option to download)

1040 Instructions

Schedule A&B

Schedule A&B Instructions

Schedule C

Schedule C Instructions

Schedule C-EZ

Schedule D

Schedule D Instructions

Texas Tax Forms

Visit the Comptroller for forms not provided here. We distribute the forms, below, as a public service for quicker download times for Central Texans.

LOOK MA, NO PENS!

Fill this one out using Acrobat, then print directly from your browser!!!

Sales and Use Tax

Application for Sales and Use Tax Permit and/or Telecommunications Infrastructure Fund Permit

TEXAS WORKFORCE COMMISSION

Tax rates remain unchanged and the 10% tax bracket for individuals has been expanded.

STANDARD DEDUCTION is increased by an additional $500 for an individual filing single & $1,000 filing married jointly for domestic real estate taxes paid in 2008.

CAPITAL GAINS TAX REDUCED

The maximum tax rate on capital gains has been reduced to 15% (5% for taxpayers in the lower brackets) for assets sold after May 5, 2003.

DIVIDENDS RECEIVED

These dividends are taxed at the same 15% and 5% rates applicable to capital gains.

MARRIAGE PENALTY RELIEF continues

The standard deduction for a married couple is $10,300 twice that of a single individual $5,150.

SALE OF PRINCIPAL RESIDENCE EXCLUSION

Married taxpayers filing a joint return may exclude gain up to $500,000 ($250,000 for single tax filers)on your principal residence. To qualify for the exclusion you must have used your home as a principal residence for at least 2 of the past 5 years.

SALES TAX DEDUCTION

Taxpayers who itemize their deductions now have a choice of deducting their state local sales taxes.

Sales tax paid on autos, boats, RVs, etc. are now deductible in addition to the standard sales tax.

TAX CREDITS FOR HIGHER EDUCATION TUITION

Tax credits for qualifying higher education expenses (tuition and fees) HOPE and LIFETIME LEARNING CREDITS. Phase out rules apply.

STUDENT LOAN INTEREST DEDUCTION

Uncle Sam will allow you to deduct interest on college loans used to pay room and board, tuition and other related education costs.

CHILD TAX CREDIT

Tax credit of $1,000 for taxpayers with qualifying children who may be claimed as a dependent and are less than 17 years old. Phase out rules apply.

EDUCATION IRAs (Coverdell Educational Savings Accounts)

Anyone interested in contributing to an Education IRA for a child under 18 can do so if they meet income eligibility requirements. Total contributions made for a child by all individuals cannot top $2,000. a year. Phase out rules apply.

IRA CONTRIBUTION INCREASED

The maximum combined contribution to a traditional and Roth IRA is generally limited to $4,000 through 2007, and in 2008, it will be $5,000. An individual who has attained the age of 50 by the end of the tax year is allowed to make an additional "CATCH-UP" contribution to a traditional IRA of $1,000.

ADOPTION CREDITS

Taxpayers may claim a nonrefundable credit on Form 8839 of up to $11,390 for qualified adoption expenses for each eligible child. Taxpayers who adopt a child with special needs will be allowed to claim an adoption credit OF $11,390 in the year the adoption becomes final regardless of expenses paid for each eligible child in the year the adoption becomes final. Phase out rules apply.

SELF EMPLOYED HEALTH INSURANCE

Self-employed individuals may deduct 100% of their health insurance and qualified long-term care for them and their family. To qualify neither they or their spouse can be eligible to participate in another employer's subsidized health plan.

SECTION 179 BUSINESS EXPENSING ELECTION INCREASED

The maximum deduction for expensing assets has been increased to $108,000 for qualifying assets. Off-the-shelf computer software will be considered qualifying property for this election.

AUTO MILEAGE RATE INCREASED

The standard mileage rate deduction for a vehicle for 01/01/08-06/30/08 is $50.5/miles & 07/01/08-12/031/08 $58.5/mile business use; $.19 for 01/01/08-06/30/08 & $.27/mile 07/01/08-12/31/08 for medical & moving use & $.14/mile for charitable use.

ALTERNATIVE MINIMUM TAX

The exemption for AMT has been increased.

HEALTH SAVINGS ACCOUNTS (HSA)

Health Savings Accounts (commonly referred to as HSAs) may help lower your health care costs. This is a tax-exempt account (similar to an IRA) in which you set aside dollars exclusively for medical expenses.

Be Aware of HSA Changes

Jan-19-2007 - The Health Opportunity Patient Empowerment Act of 2006, part of the Tax Relief and Health Care Act of 2006, provides new opportunities for those who participate in Health Savings Accounts (HSA) to build their account funds.

HSA Trustee Services, a leader in the HSA market, advises people to fully fund their accounts before any other tax-advantage accounts, such as an IRA or 401K, because the HSA funds are always accessible to the participant and family dependents for qualified health care expenses while still receiving tax benefits.

"Ever since passage of the new law, we have received calls from our current customers wanting to know how much they could add for 2007," said Viki Morales, Senior VP of HSA Trustee Services. "People are excited to hear that they can increase their contributions up to the Treasury cap even if they have a lower deductible."

Changes to HSA contributions for 2007 include:

1. Contributions are no longer limited to the lesser

of the deductible or the Treasury Cap. Everyone can

contribute the Treasury Cap Limit and this applies

to both new and existing accounts.

2. The 2007 Treasury Cap is $2850 for individuals and

$5650 for families. (indexed annually)

3. Anyone who is 55 years or older anytime in 2007 may

contribute an extra $800 as a catch-up contribution.

4. As of now, no matter when during the year you get

the qualified insurance, you are eligible to

contribute the Full Treasury Cap listed above with

no more pro-rating of contributions.

5. There is no more pro-rating of catch-up

contributions. Same rules as above apply.

"The new legislation allows people to build their account balances to save for future qualified expenses. It truly allows people to plan ahead for spending on such things as dental care, orthodontics and other discretionary care," adds Morales.

HSA Trustee Services is a nationwide provider specializing in opening HSA accounts for individuals, families and groups since the 2004 inception of the program. They were the first provider to offer a "no monthly fee" HSA which includes their exclusive "HSA Rx Card" for further savings on prescription drugs.

ENERGY TAX INCENTIVES

Residential Energy Efficiency - Individuals who install solar photo voltaic and hot water systems may be eligible for a 30% tax credit up to a maximum of $2,000 per year.

Residential Energy Conservation - Up to 10% credit for the cost of energy efficiency improvements to existing homes (limited to $500 in total). No more than $200 may be for windows, $50 for each circulation fan, $150 for each boiler, or $300 per individual item.

Green Vehicles - maximum credit from $3,400 up to $12,000 for environmentally friendly vehicles purchased after 2005 and before 2010.

New Home Construction - There is a credit for the construction of new energy efficient homes and manufactured homes.

YEAR-END TAX PLANNING

There is still time for year end tax planning should you need to consult with us. Basic planning goals should at a minimum be to accelerate tax deductions by prepaying certain items before year end and deferring revenues until after the first of the year.

Take advantage of the tax savings by maximizing your contributions to IRAs, SEPs, 401(k) plans, etc.

CREDIT CARD PAYMENTS NOW ACCEPTED BY IRS

Payments by credit card will now be accepted for the balance due to the IRS.