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Tax Appointment

Be Prepared

Start preparing early for your tax appointment by compiling a list of the documents you expect to receive based on last year's statements and this year's activities. Collect documents and information into a central file as it is received throughout the year.

What Do I Need to Bring When I Meet With My Tax Preparer?

  • W-2 Forms from all of the employers you have had throughout the year. Employers are required to issue W-2 Forms by Jaunuary 31. If you discover there is a form missing, contact the employer.
  • You may receive income that is reported on 1099 Forms. These statements report income from intersets, dividends, pensions, self-employment, government payments, or the sale of property. It is helpful to bring the actual statements to your appointment. All forms will not look alike. Be sure to check the bottom of the year-end statements that may be substitue1099s.
  • Income may be reported to you on Schedule K-1.You would recieve these statements if you were a memeber of a partnership, a stockholder in an S Corporation, or a beneficiary of a trust or an estate. These forms usaully arrive in early March. The actual forms should be taken to your tax appoinment.
  • Stock sales reporting requires information about the sale, as well aas the original cost of the stock. This information is reported on year-end statements for the year of purchase. If the stock was received as a gift or inheritance, other means of determining the cost will be necessary.
  • Reporting is required for most real estate sales, showing the cost, sales price, and expenses of the sale. Closing statements from the sale and from the orignal purchase contain necessary information. Expensesof the4 sale and improvements made to the property increase the cost of the property. Real estate may be property held for investment, rental, pleasure, or your personal residence. If the sale is on a land contract, you need to have the address and Social Security number of the buyer.
  • Business owners and farmers need to keep and bring accurate records of all income received during the year. Expense records of such things as inventory, supplies, business equipment, and other businessexpenses are essential. Payroll records may be necessary, depending on the services provided by your tax preparer.
  • Childcare information should include the name, address, and ID number of the provider, as well as the amount of the expense.
  • Moving expense records for unreimbursed job-related moves of more than 50miles are useful. The cost of moving includes transportation of goods and family to the new location. Travel to to your new home, including lodging, is also allowed.
  • Medical expenses are deductible if they exceed 71/2% of your adjusted gross income (AGI). Prescription drugs, doctor, dental, hospital bills, medical insurance premiums, and the mileage to and from the doctor's office enter into the category.
  • Charitable contributions are a good source of deductions. Single contributions of $250 or more require a statement from the charitable organization showing the amount contributed prior to the filing of your taxes. You should strive to collect receipts for all charitable contributions.
  • As an employee, you may incur deductible expenses. Your tax preparer can halp you with the expenses that are unique to your occupation. Don't forget union dues and tax preparation fees.
  • If you own a home, it is probable that you can itemize deductions. Each yar, bring the property tax bill and the mortgage interest statement to your tax appointment. If an individual your loan or land-contract, the name, address, and Social Security number of that individual is necessary. The interest on home equity loans and a vacation home may also be deductible.
  • Personal interest is not deductible, so you can leave the charge card or car loan interest at home unless it is business or investment related.

Other Infomation

  • Social Security number are necessary for all dependants.
  • For divorces after 1984, the noncustiodial parent will need a Form 8332 or other similar statement, signed by the custodial parent, in order to claim a child as a dependent.
  • If this is your first visit to R.E.J's Accounting and Tax Service, bring a copy of last year's tax return. Your preparer can use last year's information as a guideline for this year's return. If you are returning to R.E.J's Accounting and Tax Service, a copy will be on file.
  • If you received a tax booklet or postcard from the IRS, bring it along, even if it shows an incorrect address. Using the mailing label will speed the processing of the return.

Remember it is always better to bring too much information to your tax appointment than too little. Also if you are in any doubt about what to bring feel free to call us at 734-284-8833 or print off a copy of our tax organizer.

Click here for Tax Organizer