Individual Income Tax

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TTS prepares and e-files  income tax returns. To know more about us click  here.

Working Days

Mon-Fri: 9am to 5pm

(Off Tax Season) 


Mon-Sun: 9am to 9pm

(Tax Season)

Location

------ NW OKC --------

Tiako Tax Service
5912 NW 16th St
Oklahoma City, OK 73127

--- Downtown OKC ---

Tiako Tax Service
1911 Linwood Blvd
Oklahoma City, OK 73106

Call/Text:(405) 730-9305

W:TiakoTax.com
E:info@TiakoTax.com

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  • Taxable Interest
    • Most Interest Income Taxable
    • Interest from Bank Accounts
    • Interest on Loan you make to Others
    • Interest from most other Sources
    • Form 1040, Line 8a
    • Schedule B, part I and III (If >$1500)
  • U.S. Savings Bonds
    • Reported most of the time the year You Received it
    • Exempt from State and Local Taxes
    • Exception for Higher Education Expenses
    • Must be at Least 24 Years old Before Bond's Issue date
  • Other Interests
    • Certificate of Deposit (CD)
    • Certain Life Insurance Proceeds
    • Interest on Tax Refunds
    • Opening An Account Gift or Service
  • Tax-Exempt Interest
    • Must Show any Tax-Exempt Interest
    • Form 1099-INT Box 8
    • Form 1040, Line 8b
    • Tax-Exempt Bonds Issued:
      • State and Political Subdivision
      • District of Columbia
      • U.S. Possessions an Political Subdivisions
  • Dividends
    • Ordinary Dividends
      • Form 1099-DIV, Box 1a
      • Form 1040, Line 9a
      • Schedule B, Part II and III (If >$1500)
    • Qualified Dividends
      • Favorable Tax Rate
      • Form 1099-DIV, Box 1b
    • Capital Gain Distributions
      • Occur When Mutual Funds sells Assets
      • Form 1099-DIV, box 2a
      • Schedule D, Capital Gains and Losses
      • Form 1040, 
    • NonDividend Distribution
      • Reduces the Basis of Your Stock
      • Form 1099-DIV, Box 3
  • Other Distributions
    • Alaska Permanent Fund Dividends
      • Not Dividends
      • Form 1040, Line 21
  • Backup Withholding on Interest and Dividends
    • Failed to give Payer Your SSN
    • Withholding of 28%
    • Form 1099-INT, Form 1099-DIV, Box 4
    • Form W-2, Box 4
    • Form 1040, Line 64
  • Taxable State and Local Income Tax Refunds
    • For a Tax Year You Can Choose Either:
      • State and Local Income Taxes, Or
      • State and Local General Sales Taxes
    • Your Refund not Taxable If You Either:
      • Claimed Standard Deduction
      • Itemized and Deducted State and Local General Sales Taxes 
    • Schedule A
    • Form 1040, Line 10
  • Alimony Received
    • Taxable Income
    • Form 1040, Line 11
    • Form 1040, line 31a deduction for Payment
  • Unemployment Compensation
    • Benefits to unemployed Individuals
    • Form 1099-G
    • Form 1040, Line 19
  • Other Incomes
  • Other Income not Covered on Form 1040, Lines 7 through 20b
    • Prices
    • Awards
    • Lottery Winning
    • Jury Duty Pay
    • etc.
    • Form 1040, Line 21
  • Gambling Winnings
    • If >$600 Payer must Issue Form W-2G, Certain Gambling Winnings
    • Form 1040, Line 21
    • Schedule A if You Itemize
  • Withholding on Gambling Winnings
    • If > $5000 All subjected to Withholding
    • Form W-2G, Box 4
    • Form 1040, Line 64
  • Voluntary Withholding 
    • Form W-4V, Voluntary Withholding Request
    • You can Choose to have Income Withheld
    • Form 1099-G, Box 4, Certain Goverment Payments