Tax Preparation Checklist

Certified Public Accounting, Tax & Consulting Services

IMPORTANT: Go through your organizer thoroughly. If necessary and required information is not fully provided, an additional hourly rate “prorated” will be added to the final invoice for the extended amount of time necessary.

  • A valid and current form of ID for both you and your spouse. Identification card, driver’s license, or passport.

REQUIRED!!! If married filing separate: Spouse full name, social security number, and gross income for the year. If that information is unobtainable please inform us before scheduled appointment. We will assist you in obtaining the required information needed.

 

  • Dependent(s) valid social security card.

If someone else is also eligible to claim your dependent(s), please bring supporting documents to show that you are the one to claim your dependent. Documents may include but not limited to dependent(s) medical records, school records, mail, court ordered custody documents, log of days dependent(s) lived with you, payment records for dependent(s) needs, and anything can prove your right to claim your dependent(s) on your tax return based on the IRS “tie-breaker” rules.

NO PROOF. NO CLAIM. NON-NEGOTIABLE.

  • Dependent Care Credit Requirements
  • Name of school, full name of caretaker, organization, etc.
  • Full social security number or EIN Employer Identification Number of care provider
  • Phone number
  • Total amount paid to each school, caretaker and/or organization
  • Address of organization
  • Estimated Taxes paid throughout the year

  • Provide dates and amounts paid.

  • You may get a refund if overpaid or reduce the balance of your tax return.
  • Estimated Taxes paid throughout the year
  • 1095A/1095B/1095C – REQUIRED!!! Individual or shared/family health insurance provider documents is a REQUIREMENT and tax refund may not be issued by the IRS if not reported on initial return NOTE: If 1095(s) not provided upon initial appointment, additional rates may apply for IRS correspondence.
  • W2 – One from each employer you worked for. Expect your W2(s) in January thru February if by mail. In most cases your employer/HR have them ready for you immediately electronically.
  • W2G – Income from gambling
  • 1098 – Mortgage interest statement
  • 1098-E – Student loan interest you paid
  • 1098T – REQUIRED for credits on tax return! Qualified school and/or tuition deductions including all supplies purchased for school (for both you and/or your dependents). Total all school related expenses (not including tuition stated on 1098T) such as books, stationary, equipment, tools, accessories, supplies, licenses, subscriptions, software, apps, etc. for additional school credits.
  • 1099-INT – If you received interest from a bank account
  • 1099-Misc – from rental property and/or contract jobs such as DJ, carpentry, sales, delivery, web design, self-employed, and other one time services you may have provided throughout the year. You may receive a 1099 all the way up to mid February.
  • 1099-B – One from each company you invested in stocks and bonds with. It shows the details of your trades and dividends throughout the tax year. NOTE: If company stocks such as ISO or ESPP are granted to an employee and is reported on W2, a 1099B will still be issued and it is still a requirement to report these amounts on Schedule B of your tax return. These documents may or MAY NOT be issued by your company. If not, you may find your 1099B on your stock trade portfolio. Additional rates may apply if not provided upon initial appointment.
  • 1099-G – If you received a refund or payment from the state including tax refund, unemployment, and paid family leave.
  • 1099-K – If you received payments from a third party credit card processing company.
  • 1099-R – If you took a distribution/rollover from your 401k and/or pensions
  • SSA-1099 – report of social security benefits you received for the tax year
  • Form 5498 – Shows any contributions you may have made to your retirement accounts that may be deductible on your tax return. It also shows any rollovers or converted accounts that happened throughout the year (example: 401k to traditional IRA or Traditional IRA to Roth IRA).
  • Schedule K-1 – These usually show up late and many times after the tax season. These are issued if you received payments from a partnership, S corporation, estate, or trust. You may file an automatic extension If you are expecting these to show up after the deadline in April.

  • Calculated YEAR END total

Calculated YEAR END total of gross receipts/gross income for your business. Note that this is the amount of income before expenses are factored in.

*If it is not totaled, bookkeeping services may be needed before filing your tax return at an hourly rate..

  • Categorized list of your work/business expenses

Categorized list of your work/business expenses that were not reimbursed by your company or partnership. Have your expenses calculated in specific categories before you bring it to our office. It is your duty to keep records of your statements and receipts for verification purposes in the event that you should be audited. If you do not know where to start and require bookkeeping help, please let us know in advance. We do not take shoe boxes and zip lock bags as a valid form of bookkeeping. Get your summary totaled or we may need to reschedule your appointment.

*If it is not totaled, bookkeeping services may be needed before filing your tax return at an hourly rate.

  • Employee: Please refer to IRS publication 529 for further insight on possible “Unreimbursed Employee Expenses”.

  • Self Employed: Please refer to IRS publication 334 for further insight on possible self employed/business/partnership expenses.

  • Rental property information, rental income, and qualified rental property expenses.

Rental property information includes your property purchase price, closing costs, renovation costs, etc. so we can determine the depreciation of your rental property as a deduction.

  • For multiple rental properties, please separate each location/property documents and expenses (such as real estate tax, mortgage interest, supplies, repairs, etc.) and package them as such for ease of preparation.

*If it is not totaled, bookkeeping services may be needed before filing your tax return at an hourly rate.

 

  • Rental property information, rental income, and qualified rental property expenses.

It is your duty to keep track of your cost basis. Most often times, the company you use to trade your stocks (such as Ameritrade and Etrade) will not have the cost basis in the detailed summaries. Cost basis is the sum you put into the trade and is to be subtracted from your gains for the correct amount of taxation to be reported on your tax return. It is always an advantage to know your cost basis so that you do not overpay in taxes on your distributions. Client is FULLY RESPONSIBLE for their own cost basis. We love to help you lower your taxes on your returns but it is not our job to find cost basis for you. We will file what you give to us.

  • Stock trade online logins

Please have login information ready at time of appointment. We may need it for additional information.

  • IRA Contributions

The amounts contributed may reduce your tax liabilities.

  • Donations

Receipts from organizations you donated to throughout the year which may include cash/non-cash goods to churches and other qualified organizations. FOR CASH DONATIONS GREATER THAN $250, CODE SEC. 170 STATES YOU MUST HAVE A LETTER FROM THE CHARITY.

  • Taxes paid can be used as a deduction

  • If you owed tax on your state tax return the previous year and have paid it, that amount can be used as a tax deduction on your federal return this year.
  • Real Estate tax.
  • Sales tax paid on all purchases throughout the year. This is a huge tax advantage for those who live in states without state income tax or for those who did not withhold much tax on their state income. Income tax or sales tax… you may only choose one tax to deduct from these 2 options.
  • Qualified medical expenses

*A list of these expenses is available on the IRS Web site, IRS Publication 502, “Medical and Dental Expenses.”

  • Gambling losses

Gambling losses may offset your gambling winnings to reduce tax liability. Keep track of your losses in a journal if necessary (highly recommended).

  • Car mileage

Car mileage log for commute and business use and car maintenance expenses if car is used for work/business purposes. Have log ready at time of your appointment. Tolls and parking paid for work is also qualified as a deduction.

  • Alimony

Alimony: It is a requirement to file any alimony paid or received for divorce decrees before 12/31/18.

We need from payer of alimony:

  • Recipient full name
  • Recipient Address
  • Recipient Social Security Number
  • Amount paid to recipient
  • Previous 2 years

Previous 2 years of your tax returns (only if you did not file with us previously).

  • If you have a sole proprietorship LLC

If you have a sole proprietorship LLC, – Please bring all information and documents regarding your LLC including the SOS number (Secretary of State number).

  • Review Your Checklist

Please bring anything you feel may help reduce your tax liabilities that we have not already displayed on this checklist.