waltky
Wise ol' monkey
Granny says, "Dat's right - dis fer all dem rich folks dat ain't payin' dey's fair share o' taxes...
What to Give Your Tax Professional
January 17, 2014 ~ Editor's Note: This article is part of our 2014 Tax Tips series. Robert Flach is an expert with more than 40 years of experience as a tax professional and also blogs as The Wandering Tax Pro.
What to Give Your Tax Professional
January 17, 2014 ~ Editor's Note: This article is part of our 2014 Tax Tips series. Robert Flach is an expert with more than 40 years of experience as a tax professional and also blogs as The Wandering Tax Pro.
Dear Tax Client:
I want to make sure you take advantage of all the tax deductions and credits to which you are entitled – but I can only do this if you give me complete and accurate information. When sending me your tax information, be sure to include all of the following information (if it applies to your situation):
* Social Security numbers and dates of birth for you, your spouse and all dependents.
* W-2 forms (all copies), and the final pay-stub for the year for all employers. Please make a copy of your W-2s to keep with you before sending them to me.
* All 1099s (for interest, dividends, gross proceeds and other income), 1098s (for mortgage interest, contribution of a motor vehicle to charity, student loan interest and tuition and fees) and K-1s (and all attachments) from all sources. Do not give me your information until you have received everything.
*All year-end statements from brokerage and mutual fund accounts and any AVERAGE COST STATEMENTS received from a mutual fund on the sale of fund shares.
Provide a detailed listing of:
* itemized deductions (unreimbursed medical payments, charitable contributions, and job-related, job-seeking, and investment expenses),
*rental income and expenses, and/or
* self-employment income and expenses.
I don't need to see actual bills, receipts or cancelled checks. For the most part I just need numbers. Do not send me a pile of medical bills and receipts and insurance statements and expect me to sort through them to determine your allowable medical deduction.
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