Question: Does BUYandHOLD provide tax help for older, long-term clients?

Barb Aston

Answer:

Dear Ms. Aston,

BUYandHOLD does not provide tax help unless you have a question about the 1099 form or forms that were sent to you. Those show interest earned and dividends paid out. In that case, you could reach a Customer Service Support Representative at 800-646-8212.

However, you might want to get in touch with AARP (the American Association of Retired Persons). For a number of years, this group has been running a tax assistance program that provides one-on-one in person help as well as telephone advice. Called Tax-Aide, it is run by 32,000 volunteers and is free. The service focuses primarily on the tax needs of older people.

To find an AARP tax volunteer, go to: www.aarp.org and in the search box type "taxes." Then enter your Zip Code. Information given includes the address, telephone number, hours, if an appointment is necessary and if the office is handicap accessible.

Caution: If you have a complicated return, you will probably need to go beyond this free service and consult an accountant. But if you merely need help with your 1040, 1040A, 1040EZ or one of the basic schedules, the AARP's Tax-Aide should be just fine.

Two other sources of free advice...

At www.irs.gov click on "1040 Central" for information on popular topics as well as a Daily Tax Tip. On the H&R Block site (www.hrblock.com) go to "Tax Tips" and "Calculators."

Preparing In Advance

In preparation for your meeting with any tax adviser, you'll need certain documents, including:

• Copy of last year's return.
• W-2 forms from each employer
• All 1099 forms showing interest and/or dividends as well as documentation showing the original purchase price of any securities your sold during the year
• If you were paid Social Security benefits, your SSA-1099
• If you received a pension or annuity, your 1099R
• If you received unemployment compensation, those statements
• If you will be itemizing your deductions, bring receipts or canceled checks for medical expenses, taxes paid, mortgage interest paid and charitable contributions
• Social Security numbers for your dependents

Good luck!

BUYandHOLD does not offer or provide any investment or tax advice. This information has been obtained from sources we believe to be reliable, but we do not represent that such information is complete or accurate, and it should not be relied upon as such. Please check with your accountant regarding your specific tax consequences.