Preparing for Tax Day
What should you do to prepare for your appointment?
What should you do to prepare for your appointment?
| Required documents to keep on file: |
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| Required documents to keep on file: |
| Required documents to keep on file: |
| Required documents to keep on file: |
| Income documents: |
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| Income from jobs: forms W-2 for you and your spouse |
| Investment income—various forms 1099 (-INT, -DIV, -B, etc.), K-1s, stock option information |
| Investment income—various forms 1099 (-INT, -DIV, -B, etc.), K-1s, stock option information |
| Taxable alimony received |
| Business or farming income—profit/loss statement, capital equipment information |
| If you use your home for business—home size, office size, home expenses, office expenses |
| IRA/pension distributions—forms 1099-R, 8606 |
| Rental property income/expense—profit/Loss statement, rental property suspended loss information |
| Social Security benefits—forms SSA-1099 |
| Income from sales of property—original cost and cost of improvements, escrow closing statement, cancelled debt information (form 1099-C) |
| Prior year installment sale information—forms 6252, principal and Interest collected during the year, SSN and address of payer |
| Other miscellaneous income—jury duty, gambling winnings, Medical Savings Account (MSA), scholarships, etc. |
However, if the IRS believes you have significantly underreported your income (by 25 percent or more), or believes there may be indication of fraud, it may go back six years in an audit. To be safe, use the following guidelines.
How can I check on my tax refunds? Tax Related Web-sites/phone numbers: IRS www.irs.gov IRS Get Refund Status IRS Inquiry Phone: (800) 829-1040
| Other tax documents: |
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| IRA contributions |
| Energy credits |
| Student loan interest |
| Medical Savings Account (MSA) contributions |
| Moving expenses (for tax years prior to 2018 only) |
| Self-employed health insurance payments |
| Keogh, SEP, SIMPLE, and other self-employed pension plans |
| Alimony paid that is tax deductible |
| Educator expenses |
| State and local income taxes paid |
| Real estate taxes paid |
| Personal property taxes—vehicle license fee based on value |
| Estimated tax payment made during the year, prior year refund applied to the current year, and any amount paid with an extension to file. |
| Direct deposit information—routing and account numbers |
| Foreign bank account information—location, name of bank, account number, peak value of account during the year |
| Tax deduction documents: |
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| Advance Child Tax Credit payment |
| Child care costs—provider’s name, address, tax id, and amount paid |
| Education costs—forms 1098-T, education expenses |
| Adoption costs—SSN of child, legal, medical, and transportation costs |
| Home mortgage interest and points you paid—Forms 1098 |
| Investment interest expense |
| Charitable donations—cash amounts and value of donated property, miles driven, and out-of-pocket expenses |
| Casualty and theft losses—amount of damage, insurance reimbursements |
| Other miscellaneous tax deductions—union dues, unreimbursed employee expenses (uniforms, supplies, seminars, continuing education, publications, travel, etc.) (for tax years prior to 2018 only) |
| Medical and dental expenses |
At Penthers, we make you the center of everything we do. Our focus is on supporting businesses, like yours, to improve productivity, increase their profits, grow sustainably, and find more time to do the things they want to do.
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