Tax Preparation Checklist
You will need to provide all of your income tax documentation.
For new clients, please provide your prior year Federal and State tax returns. The reason is that you may have certain carryover losses, depreciable items and state tax payments which will be needed in preparing your current year tax return. It is also helpful as a guide in conducting the interview process.
In addition, please bring…
Personal Data:
- Social Security Numbers including spouse, children and other dependents, ex-spouse if alimony is paid, nondependent for claiming head of household status.
- Childcare provider: name, address, tax ID or Social Security Number.
- A personal check containing your bank routing number and checking account number to speed up your tax
refund using direct deposit by the IRS or State.
Income Data:
- W-2 Forms
- Unemployment compensation forms
- Social Security forms
- Pension and Annuity
- Schedules K-1 from Partnership, S-Corp and Trusts
- Gambling and Lottery winnings
- Scholarships and fellowships
- Alimony received
- State tax refunds
Homeowner Data:
- Residential notice of property tax (green postcard from NJ)
- Mortgage interest form 1098
- Closing/settlement documentation
- Home equity loan interest
- Real estate taxes paid
Rental Property Ownership:
- Expenses for maintaining, advertising, commissions, insurance, management fees, legal and other professional fees, utilities, taxes, supplies, repairs, travel for visiting property, mortgage interest.
- Cost of major improvements which will be added to the basis of the property.
- Rental income received.
Financial:
- Interest income statements – 1099-INT
- Dividend income statements – 1099-DIV
- Broker transactions – 1099B
- Margin interest paid
- Retirement/Pension distribution – 1099R
- Student Loan interest paid
Potential Deductible Expenses:
- Gifts to charity both cash and fair market value of items donated
- Unreimbursed expenses related to volunteer work
- Unreimbursed expenses related to your job
- Education expenses (job related and other)
- Job hunting expenses
- Investment expenses
- Adoption expenses
- Alimony paid
- Child care expenses
- Tax return preparation fees
- Medical expenses (especially for NJ 2% limitation)
- Travel from first to second job or to education
- Business use of home expenses
Self-Employment Data:
- Business Income – 1099-MISC and/or own records
- Business related expenses such as automobiles information (mileage, make and year of car, date placed in service), advertising, health insurance, retirement benefits, materials, supplies, equipment, computers, etc.
- Employment taxes and other related taxes.
- Payroll information
Miscellaneous:
- Federal, state and local estimated income tax paid for current year.
- Casualty or theft documentation
- Sale of property information
