Annual income tax preparation services are available for a discounted fee if you have been an affiliated NICADIRECT member for at least six months.

This also includes a joint return if you are married. Once you have signed up, you can view your “Tax Organizer” under Resources, Important Documents. The “Tax Organizer” does the following:

• Identifies home office deductions
• Identifies which travel-related expenses are deductible
• Identifies deductible expenses associated with operating your own business (would normally include the cost of maps, AAA dues, pager, radio, general office expenses, cell phone, parking and toll charges, business online charges)
• Shows methods for calculating automobile deductions

You will have the option to either e-file (free) or receive a completed federal and state return back in the mail, which you will then sign and mail to the IRS and your state authority.

The amount you have to pay into Social Security and Medicare is called Self-Employment tax, which is determined by the amount of your business income and is added to the amount of your federal tax liability. When you pay your tax to the IRS you are also paying an amount to Social Security and Medicare that will reflect in your benefits when you retire.

Have a question pertaining to this service? Ask the NICA Tax Department.


Not a member? Sign up today!