Personal tax preparation in Norman

At Norman Tax Consulting, a personal return means the whole picture: federal Form 1040, Oklahoma Form 511, and every schedule that applies to you. Most Norman returns we see have at least one thing that the free software handles poorly. A rental house. A 1099 from a side job. A parent who moved in. A stock sale with the cost basis missing from the brokerage form.

What a personal return costs here

Personal returns in the Norman area run $137 to $454, with the average near $242. A W2 with the standard deduction is at the low end. Add itemized deductions, a rental or investments and it moves up. A Schedule C for self employed income adds about $123 to $135. The cost guide has the full table.

Returns we prepare often

• Two income households where one spouse has a W2 and the other has 1099 income.
• Small landlords with one to four rental houses or a duplex near campus.
• OU faculty and staff with consulting fees, book royalties or a 403(b).
• Graduate students on stipends, and parents claiming the American Opportunity Credit.
• Retirees using the Oklahoma pension exclusion, and military retirees whose retirement pay is exempt in Oklahoma.
• People who moved into or out of Oklahoma during the year.

What to send us

1. Last year's federal and Oklahoma returns, if we did not prepare them.
2. Every W2, 1099 and 1098 you received. Brokerage firms often send corrected 1099s in March, so wait for those.
3. Rental income and expenses for each property, with the purchase date and price if it is new to us.
4. Childcare costs with the provider's tax ID, and any 1098 T from OU or another school.
5. Records of estimated payments you made to the IRS and to Oklahoma.

The Oklahoma side of the return

Oklahoma starts from your federal adjusted gross income and then adds and subtracts its own items. That is where the mistakes tend to sit. Military retirement is fully exempt. Other retirement income has a partial exclusion per person. Oklahoma also has its own credits and a sales tax relief credit for lower income households. The Oklahoma Tax Commission publishes the current forms and instructions each year.

After the return is filed

We keep your return on file, and you can call with questions through the year. If a letter arrives, send us a photo. Most are routine and we can tell you in a few minutes whether anything needs to be done. If you need more, see our page on IRS letter help.

Working from Moore or Noble? See the Moore page and the Noble page for notes on the returns we see there.