Read through the following list as a reminder of what is needed to complete your tax return. You may not have all of these items, but you will probably have several of them. If you are unsure about any of the items, give us a call at 574-223-4052 or shoot us an email.
W-2’s 1099’s – interest, dividends, retirement/pension, state refunds, unemployment, sale of securities, oil and gas interests, etc. K-1’s – partnerships, S corporations, LLC’s, LLP’s, estates, trusts, etc. (if we do your business returns, we will generate the K-1’s) Social Security Statement (1099-SSA) – if you receive benefits Closing Statements – all real estate deals for buying and selling, including refinancing (points may be deductible and property taxes are often paid at time of refinancing) Estimated State and Federal Tax Payments – amount paid and dates Social Security Numbers and Date of Birth - for all dependants Basis of Securities Sold – you don’t want to pay gains on the total amount of a sale! Please provide the amount you paid for the investment, along with the purchase date. Investment Account Statements – with enclosures (often there are little hidden deductions in those papers) Mortgage Interest Statement Real Estates Taxes – all real estate taxes are eligible for deduction Mortgage Insurance Premiums – this was new in 2007 Personal Property Tax – car tax (see ownership tax and prior ownership tax on car registration – most of you forget to bring this one to us!) Charitable Contributions – check or credit card, as well as noncash items (Goodwill). Don’t forget volunteer work mileage and volunteer expenses! Please provide the purchase price for items you are donating. Child Care Costs – amount, name and social security number or tax ID of provider, and the address. Education Loan Interest – Sallie Mae student loans, Nelnet, etc. 529 Plan Contributions – may be eligible for state deductions Tuition Payments – college, graduate school, post-high school education of any kind Health Insurance Premiums – paid AFTER tax or if self-employed (or K-1 recipient) Long Term Care Insurance Premiums – split out per person Contributions/Withdrawals to/from Medical Savings Account, Health Savings Accounts, IRA’s, SEP’s, SIMPLE’s, KEOGH’s, 401K’s Installment Sales – first year, we need all documentation; after that we need to know about the payments received Moving Expenses – if job related Medical Expenses – don’t overlook mileage, lodging, prescribed stop smoking programs, glasses, braces, prescribed weight loss programs, etc. Family Changes – new spouse, new children, children who have flown the nest, etc. New Address, Phone or Email – anything NEW Copy of Prior Year’s Tax Return – for new clients only Bank Account Information – to have your refund direct deposited
Tax Return Checklist for Businesses (Corporations, S Corporations, Partnerships, LLC’s, Trusts, Estates, Gifts, Non-Profits, Foundations)
Financial Statements – or data backups General Ledger and List of Journal Entries – if we don’t get a data backup Bank Statements and Reconciliations – especially year end Check Registers Investment Account Statements Aging Reports for Receivables and Payables List of Assets Purchased/Sold/Disposed of During the Year – include bills of sale/purchase Notes and Leases – amortization schedules, new note contracts Payroll Reports – for year end Any Changes in Ownership or Capital Structure – list of new shareholders/partners with equity contributions. Partnership/LLC Operating Agreements Fair Market Valuation for Gifts – as well as donor’s basis For Non-Profits and Foundations – change in board members, change in mission, list of significant donor’s, description of activities for the year Copy of Prior Year’s Tax Returns
Click the pink rose icon to the left to view the INDIVIDUAL checklist for documents needed to do your federal and state tax returns
Click the pink rose icon to the left to view the BUSINESS checklist for documents needed to do your federal and state tax returns