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With every New Year brings us closer to something we all must do.....get our taxes prepared...yuck!
 
I came across some really helpful information recently and thought you could use it as a guide for putting together the necessary paperwork for you and/or your tax-preparer.
 
It may even help you find a deduction or credit you were not aware of.  Taxes are complicated enough, we need all the help we can get. At least I know I do.
 
Here's the List...The Tax Paper Chase List
Yes, this is a long list -- but it's the unfortunate reality of our tax code that it's not even comprehensive! But these items will cover 95% of our clients.  Really, this is for ensuring that your tax preparer is able to help you keep everything you deserve to keep under our tax code.
 
Personal Data
Social Security Numbers (including spouse and children)
Child care provider tax I.D. or Social Security Number
 
Employment & Income Data
W-2 forms for this year
Tax refunds and unemployment compensation: Form 1099-G
Miscellaneous income including rent: Form 1099-MISC
Partnership and trust income
Pensions and annuities
Alimony received
Jury duty pay
Gambling and lottery winnings
Prizes and awards
Scholarships and fellowships
State and local income tax refunds
Unemployment compensation
 
Homeowner/Renter Data
Residential address(es) for this year
Mortgage interest: Form 1098
Sale of your home or other real estate: Form 1099-S
Second mortgage interest paid
Real estate taxes paid
Rent paid during tax year
Moving expenses
 
Financial Assets
Interest income statements: Form 1099-INT & 1099-OID
Dividend income statements: Form 1099-DIV
Proceeds from broker transactions: Form 1099-B
Retirement plan distribution: Form 1099-R
Capital gains or losses
 
Financial Liabilities
Auto loans and leases  (account numbers and car value) if vehicle used for business
Student loan interest paid
Early withdrawal penalties on CDs and other fixed time deposits
 
Automobiles
Personal property tax information
Department of Motor Vehicles fees
 
Expenses
Gifts to charity (receipts for any single donations of $250 or more)
Unreimbursed expenses related to volunteer work
Unreimbursed expenses related to your job (travel expenses, entertainment, uniforms, union dues, subscriptions)
Investment expenses
Job-hunting expenses
Education expenses (tuition and fees)
Child care expenses
Medical Savings Accounts
Adoption expenses
Alimony paid
Tax return preparation expenses and fees
 
Self-Employment Data
Estimated tax vouchers for the current year
Self-employment tax
Self-employment SEP plans
Self-employed health insurance
K-1s on all partnerships
Receipts or documentation for business-related expenses
Farm income
 
Deduction Documents
State and local income taxes
IRA, Keogh and other retirement plan contributions
Medical expenses
Casualty or theft losses
Other miscellaneous deductions
 
Posted 1:45 PM  View Comments

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