Today's Savings Research Paper
Prepared For:
PATTI A. MRUK
03/22/2013
Today's Savings
*
By deducting your home mortgage interest, you reduced your taxes by an estimated:
*
$270.00
In simple terms, the Marginal Tax Rate is the tax rate that you pay on your last dollar of taxable income. It is the highest federal tax bracket that affects your tax calculation. The Effective Tax
Rate is the percentage of your total income that you paid in taxes. For 2012, your Marginal Tax
Rate is 15% and your Effective Tax Rate is 9%.
Total Savings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $270.00
Filing, Refund and Balance Due Information
Tax Return
efile
Refund /
(Balance …show more content…
Due)
Federal
No
($1,524.00)
Summary
Balance Due
Message
($1,524.00) See the Filing Checklist for instructions.
Th is H &R B lock Ad vant age d ocument provid es inf ormat ion t h at could h elp y ou improve y our t ax and f inancial sit uat ion. It s cont ent s sh ould b e consid ered in conj unct ion w it h inf ormat ion you receive f rom ot h er sources t h at are f amiliar w it h your specif ic circumst ances. Tax services of f ered t h rough sub sid iaries of H RB Tax Group, Inc.
Advantage (2012)
FDADVICE-1WV 1.0
Form Sof t w are Copyrigh t 1996 - 2013 H RB Tax Group, Inc.
2012 Tax Return Summary
Federal Year over Year Comparison
INCOME
Year 2012
Wages, salaries, tips
Taxable social security benefits
Total income
Year 2011
Change($)
$33,104
$584
$33,688
$0
$0
$0
$33,104
$584
$33,688
$33,688
$0
$33,688
$1,979
$5,772
$7,751
$5,950
$3,800
$22,137
$0
$0
$0
$0
$0
$0
$1,979
$5,772
$7,751
$5,950
$3,800
$22,137
$2,884
$2,884
$0
$0
$2,884
$2,884
$2,884
$0
$2,884
$1,384
$1,384
$0
$0
$1,384
$1,384
$1,524
$24
$0
$0
$1,524
$24
$27,916
$1,979
15%
9%
Single
$0
$0
$27,916
$1,979
ADJUSTED GROSS INCOME
Total income less total adjustments
TAXABLE INCOME
Taxes
Deductible interest
Total itemized deductions
Standard deductions
Exemptions
Taxable income
TAX COMPUTATION
Income tax
Tax before credits
OTHER TAXES
Total tax
PAYMENTS
Federal withholding
Total payments
AMOUNT DUE
Amount owed with return
Penalty for underpayment of tax
OTHER COMPUTATIONS
Alternative minimum taxable income
Total tax preferences and adjustments
Marginal tax bracket
Effective tax bracket
Filing status
Client Sum (2012)
FDBASUM-1WV 1.0
Form Sof t w are Copyrigh t 1996 - 2013 H RB Tax Group, Inc.
H&R Block Tax and Health Care Review for
PATTI A MRUK
How We Arrived at Your Results
The Affordable Care Act requires most U.S. citizens and legal residents to have health insurance coverage. Consumers will be able to purchase health insurance through a state- based exchange unless you are able to enroll in an employer provided affordable insurance plan. If you do not have health insurance coverage, you may be subject to a tax penalty beginning in 2014.
To help pay for your health-insurance premiums, you might be eligible for:
.
.
A subsidy (the government could advance a portion of your premium cost directly to the insurer)
Medicaid assistance
Your eligibility is based on:
.
.
Household income
Family size
The information below is based on your 2012 return. It might differ from your actual amounts based on:
.
.
.
Changes in your family size
Additional household income
Other factors
In certain situations, dependent(s) eligibility status could vary from the filers. Please visit the exchange for details.
Your Results
Eligibility Status:
SUBSIDY
Approximate Monthly Cost:
$269.61/mo
Potential Tax Penalty 2014:
$239.38/yr
2015:
$478.76/yr
To learn more about Health Care Reform and Taxes, visit: hrblock.com/healthcare
The information provided herein is only an estimate and does not constitute tax or legal advice or an official calculation of your potential subsidy, share of the premium payment, and/or tax penalty. You should use this estimate for informational purposes only and should not rely on it. This estimate is based on information from your 2012 tax return and/or information you provided to us. It could differ based on other factors. Consult your state exchange or your employer for further information.
Your Enrollment Checklist
To register with your state exchange in the fall of 2013, you'll need:
Valid e-mail for the person registering to create the account
Family Size:
1
For each family member:
Legal name
Date of birth
Social Security Number (SSN)
.
.
.
2012 federal return - - We've listed your income from this year's return:
33,104.00
Job Income
+ $
0.00
Self-Employment Income
+ $
1,168.00
Other Income
+ $
0.00
Adjustments
- $
34,272.00
Total Household Income
$
2012 Federal Tax Return Filing Instructions
FOR THE YEAR ENDING
December 31, 2012
PATTI A MRUK
Prepared for
Tax
Summary
Gross Income
Adjusted Gross Income
Total Deductions
Total Taxable Income
Total Tax
Total Payments
Refund Amount
Amount You Owe
Make check payable to
33,688
33,688
11,551
22,137
2,884
1,384
0
1,524
United States Treasury
Mailing
Address
$
$
$
$
$
$
$
$
Internal Revenue Service Center
P.O. Box 802501
Cincinnati, OH 45280-2501
Instructions
STEP 1 - Sign and date Form 1040
STEP 2 - Assemble what you need to mail
Attach any schedules and forms behind Form 1040 in order of the
Attachment Sequence Number shown in the upper right corner of the schedule or form. If there are supporting statements, arrange them in the same order as the schedules or forms they support and attach them last. Do not attach correspondence or other items unless required to do so. Attach a copy of each W-2, W-2G, and 2439 to the front of Form 1040. Also attach Form(s) 1099-R or 1099-G if tax was withheld.
STEP 3 - Pay balance due on your taxes
Make your check or money order for $1524 payable to the United States
Treasury. Do not send cash and do not forget to sign it. Write your
Social Security number(s) and daytime phone number on your check or money order (U.S. funds only).
STEP 4 - Mail Form(s)
Mail Form 1040 and associated documents to the address above.
Retain the proof of mailing to avoid a late filing penalty.
We recommend you use one of these methods to send your 1040:
- U.S. Postal Service certified mail.
If you are not mailing to an address with a post office box, you may also use:
- Federal Express (FedEx): Priority Overnight, Standard Overnight,
2Day, International Priority, or International First
- United Parcel Service (UPS): Next Day Air, Next Day Air Saver,
2nd Day Air, or Worldwide Express
CONTINUED ON NEXT PAGE
Checklist (2012)
FDCHECKE-1WV 1.0
Form Sof t w are Copyrigh t 1996 - 2013 H RB Tax Group, Inc.
PATTI A MRUK
2012 Federal Filing Instructions Continued
Instructions
STEP 5 - Keep a copy
Print a copy of the return for your records.
Please attach a copy of each W-2, W-2G, 1099G and 1099R to your return.
Checklist (2012)
FDCHECKE-2WV 1.0
Form Sof t w are Copyrigh t 1996 - 2013 H RB Tax Group, Inc.
Form
D epart ment of t h e Treasury - Int ernal Revenue Service
(99)
1040 U.S. Individual Income Tax Return
OM B No. 1545- 0074
, 2012, ending
For t h e year J an. 1- D ec. 31, 2012, or ot h er t ax year b eginning
IRS Use Only - D o not w rit e or st aple in t h is space.
See separate instructions.
Your social security number
, 20
271-78-6239
PATTI A MRUK
1110 2ND
SANDUSKY, OH 44870
Spouse's social security number
M ak e sure t h e SSN(s) ab ove and on line 6c are correct .
Presidential Election
Campaign
Foreign count ry name
Foreign province/ st at e/ count y Foreign post al cod e
Ch eck h ere if y ou, or y our spouse if f iling j oint ly , w ant $3 t o go t o t h is f und . Ch eck ing a b ox b elow w ill not ch ange y our t ax or refund. You
Filing Status
Check only one box.
Exemptions
If more than four dependents, see inst and check here X Single
1
2
3
4
Married filing jointly (even if only one had income)
Married filing separately.Ent er spouse's SSN ab ove & f ull name h ere.
5
H ead of h ouseh old (w it h q ualif y ing person). (See inst ruct ions.)
If t h e q ualif y ing person is a ch ild b ut not y our d epend ent , ent er t h is ch ild 's name h ere.
Qualifying widow(er) with dependent child
6a X Yourself. If someone can claim you as a dependent, do not check box 6a b Spouse
(2) D epend ent 's c Dependents: social securit y numb er
(1) First name
Last name
1
(3) D epend ent 's relat ionsh ip t o y ou
B oxes ch eck ed on 6a and 6b
No. of ch ild ren on 6c who:
(4) if qual. ch ild
PATTI A. MRUK
03/22/2013
Today's Savings
*
By deducting your home mortgage interest, you reduced your taxes by an estimated:
*
$270.00
In simple terms, the Marginal Tax Rate is the tax rate that you pay on your last dollar of taxable income. It is the highest federal tax bracket that affects your tax calculation. The Effective Tax
Rate is the percentage of your total income that you paid in taxes. For 2012, your Marginal Tax
Rate is 15% and your Effective Tax Rate is 9%.
Total Savings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $270.00
Filing, Refund and Balance Due Information
Tax Return
efile
Refund /
(Balance …show more content…
Due)
Federal
No
($1,524.00)
Summary
Balance Due
Message
($1,524.00) See the Filing Checklist for instructions.
Th is H &R B lock Ad vant age d ocument provid es inf ormat ion t h at could h elp y ou improve y our t ax and f inancial sit uat ion. It s cont ent s sh ould b e consid ered in conj unct ion w it h inf ormat ion you receive f rom ot h er sources t h at are f amiliar w it h your specif ic circumst ances. Tax services of f ered t h rough sub sid iaries of H RB Tax Group, Inc.
Advantage (2012)
FDADVICE-1WV 1.0
Form Sof t w are Copyrigh t 1996 - 2013 H RB Tax Group, Inc.
2012 Tax Return Summary
Federal Year over Year Comparison
INCOME
Year 2012
Wages, salaries, tips
Taxable social security benefits
Total income
Year 2011
Change($)
$33,104
$584
$33,688
$0
$0
$0
$33,104
$584
$33,688
$33,688
$0
$33,688
$1,979
$5,772
$7,751
$5,950
$3,800
$22,137
$0
$0
$0
$0
$0
$0
$1,979
$5,772
$7,751
$5,950
$3,800
$22,137
$2,884
$2,884
$0
$0
$2,884
$2,884
$2,884
$0
$2,884
$1,384
$1,384
$0
$0
$1,384
$1,384
$1,524
$24
$0
$0
$1,524
$24
$27,916
$1,979
15%
9%
Single
$0
$0
$27,916
$1,979
ADJUSTED GROSS INCOME
Total income less total adjustments
TAXABLE INCOME
Taxes
Deductible interest
Total itemized deductions
Standard deductions
Exemptions
Taxable income
TAX COMPUTATION
Income tax
Tax before credits
OTHER TAXES
Total tax
PAYMENTS
Federal withholding
Total payments
AMOUNT DUE
Amount owed with return
Penalty for underpayment of tax
OTHER COMPUTATIONS
Alternative minimum taxable income
Total tax preferences and adjustments
Marginal tax bracket
Effective tax bracket
Filing status
Client Sum (2012)
FDBASUM-1WV 1.0
Form Sof t w are Copyrigh t 1996 - 2013 H RB Tax Group, Inc.
H&R Block Tax and Health Care Review for
PATTI A MRUK
How We Arrived at Your Results
The Affordable Care Act requires most U.S. citizens and legal residents to have health insurance coverage. Consumers will be able to purchase health insurance through a state- based exchange unless you are able to enroll in an employer provided affordable insurance plan. If you do not have health insurance coverage, you may be subject to a tax penalty beginning in 2014.
To help pay for your health-insurance premiums, you might be eligible for:
.
.
A subsidy (the government could advance a portion of your premium cost directly to the insurer)
Medicaid assistance
Your eligibility is based on:
.
.
Household income
Family size
The information below is based on your 2012 return. It might differ from your actual amounts based on:
.
.
.
Changes in your family size
Additional household income
Other factors
In certain situations, dependent(s) eligibility status could vary from the filers. Please visit the exchange for details.
Your Results
Eligibility Status:
SUBSIDY
Approximate Monthly Cost:
$269.61/mo
Potential Tax Penalty 2014:
$239.38/yr
2015:
$478.76/yr
To learn more about Health Care Reform and Taxes, visit: hrblock.com/healthcare
The information provided herein is only an estimate and does not constitute tax or legal advice or an official calculation of your potential subsidy, share of the premium payment, and/or tax penalty. You should use this estimate for informational purposes only and should not rely on it. This estimate is based on information from your 2012 tax return and/or information you provided to us. It could differ based on other factors. Consult your state exchange or your employer for further information.
Your Enrollment Checklist
To register with your state exchange in the fall of 2013, you'll need:
Valid e-mail for the person registering to create the account
Family Size:
1
For each family member:
Legal name
Date of birth
Social Security Number (SSN)
.
.
.
2012 federal return - - We've listed your income from this year's return:
33,104.00
Job Income
+ $
0.00
Self-Employment Income
+ $
1,168.00
Other Income
+ $
0.00
Adjustments
- $
34,272.00
Total Household Income
$
2012 Federal Tax Return Filing Instructions
FOR THE YEAR ENDING
December 31, 2012
PATTI A MRUK
Prepared for
Tax
Summary
Gross Income
Adjusted Gross Income
Total Deductions
Total Taxable Income
Total Tax
Total Payments
Refund Amount
Amount You Owe
Make check payable to
33,688
33,688
11,551
22,137
2,884
1,384
0
1,524
United States Treasury
Mailing
Address
$
$
$
$
$
$
$
$
Internal Revenue Service Center
P.O. Box 802501
Cincinnati, OH 45280-2501
Instructions
STEP 1 - Sign and date Form 1040
STEP 2 - Assemble what you need to mail
Attach any schedules and forms behind Form 1040 in order of the
Attachment Sequence Number shown in the upper right corner of the schedule or form. If there are supporting statements, arrange them in the same order as the schedules or forms they support and attach them last. Do not attach correspondence or other items unless required to do so. Attach a copy of each W-2, W-2G, and 2439 to the front of Form 1040. Also attach Form(s) 1099-R or 1099-G if tax was withheld.
STEP 3 - Pay balance due on your taxes
Make your check or money order for $1524 payable to the United States
Treasury. Do not send cash and do not forget to sign it. Write your
Social Security number(s) and daytime phone number on your check or money order (U.S. funds only).
STEP 4 - Mail Form(s)
Mail Form 1040 and associated documents to the address above.
Retain the proof of mailing to avoid a late filing penalty.
We recommend you use one of these methods to send your 1040:
- U.S. Postal Service certified mail.
If you are not mailing to an address with a post office box, you may also use:
- Federal Express (FedEx): Priority Overnight, Standard Overnight,
2Day, International Priority, or International First
- United Parcel Service (UPS): Next Day Air, Next Day Air Saver,
2nd Day Air, or Worldwide Express
CONTINUED ON NEXT PAGE
Checklist (2012)
FDCHECKE-1WV 1.0
Form Sof t w are Copyrigh t 1996 - 2013 H RB Tax Group, Inc.
PATTI A MRUK
2012 Federal Filing Instructions Continued
Instructions
STEP 5 - Keep a copy
Print a copy of the return for your records.
Please attach a copy of each W-2, W-2G, 1099G and 1099R to your return.
Checklist (2012)
FDCHECKE-2WV 1.0
Form Sof t w are Copyrigh t 1996 - 2013 H RB Tax Group, Inc.
Form
D epart ment of t h e Treasury - Int ernal Revenue Service
(99)
1040 U.S. Individual Income Tax Return
OM B No. 1545- 0074
, 2012, ending
For t h e year J an. 1- D ec. 31, 2012, or ot h er t ax year b eginning
IRS Use Only - D o not w rit e or st aple in t h is space.
See separate instructions.
Your social security number
, 20
271-78-6239
PATTI A MRUK
1110 2ND
SANDUSKY, OH 44870
Spouse's social security number
M ak e sure t h e SSN(s) ab ove and on line 6c are correct .
Presidential Election
Campaign
Foreign count ry name
Foreign province/ st at e/ count y Foreign post al cod e
Ch eck h ere if y ou, or y our spouse if f iling j oint ly , w ant $3 t o go t o t h is f und . Ch eck ing a b ox b elow w ill not ch ange y our t ax or refund. You
Filing Status
Check only one box.
Exemptions
If more than four dependents, see inst and check here X Single
1
2
3
4
Married filing jointly (even if only one had income)
Married filing separately.Ent er spouse's SSN ab ove & f ull name h ere.
5
H ead of h ouseh old (w it h q ualif y ing person). (See inst ruct ions.)
If t h e q ualif y ing person is a ch ild b ut not y our d epend ent , ent er t h is ch ild 's name h ere.
Qualifying widow(er) with dependent child
6a X Yourself. If someone can claim you as a dependent, do not check box 6a b Spouse
(2) D epend ent 's c Dependents: social securit y numb er
(1) First name
Last name
1
(3) D epend ent 's relat ionsh ip t o y ou
B oxes ch eck ed on 6a and 6b
No. of ch ild ren on 6c who:
(4) if qual. ch ild