Being prepared truly helps make the tax preparation experience go smoothly. We have a number of helpful items listed below that can help you to organize and manage your particular tax situation.
Many clients ask us if our Income Tax Checklist is really necessary to fill out every year and the answer to that question is YES, IT IS! The checklist is updated each year to include (and sometimes exclude) questions based on the constantly changing tax laws. It also helps us catch those unusual tax events that you might have We want to make sure that your return is done correctly and this Checklist helps us achieve that goal.
Please fill out our Income Tax Checklist provided above. No printer? No problem. You can also fill this out for us when you stop by the office.
Do you have a child that you are claiming on your tax return? Please fill out the Qualifying Child Worksheet provided above.
Business Schedule C Worksheet
Do you own a small business? If you are self-employed and file a Schedule C, then this worksheet provided above can help you organize all your potential deductions.
Do you have a rental property? This worksheet provided above is intended to help you organize all your potential deductions. We do ask that you use one sheet per rental property.
As part of your Schedule C Business or Schedule E rental property you may have some mileage that is deductible. All mileage is required to be documented in order to be claimed. This Auto / Truck Expense & Mileage Worksheet provided above can help you consolidate your records onto one sheet. The monthly mileage is necessary because the mileage rate will occasionally change mid-way through the tax year.
Have you had any debt forgiven or cancelled in the past year? This can include credit cards, student loans, mortgages, or other types of debt that you did not pay back. In those situations the forgiven debt is considered to be taxable income to you, the taxpayer. There are a few options to potentially reduce or remove this from your taxable income and these options will be discussed with you when your tax return is being prepared. If you qualified for Student Loan Debt forgiveness from the Public Service Loan Forgiveness Program, this is not considered to be taxable income. However, be sure to bring in this information so we can discuss this together. Please check out this link above to show you what a debt cancellation tax form might look like.
Do you have a child in college, paying student loans back, or have children attending private school in Kindergarten through 12th grade? Please check out this link above.
Have you spent some time gambling this past year? All gambling income should be reported, not just the W2-G. We have created this worksheet to assist you in tracking your gambling income and losses to be in compliance with IRS guidelines. Please check out this link above.
Finally, a few more links are below to help you with the gathering of your tax information.
