Following is a list of the more common items you should bring
if you have them.
- Wage statements (Form W-2)
- Pension, or retirement income (Forms 1099-R)
- Dependents' Social Security numbers and dates of birth
- Last year's tax return
- Information on education expenses
- Information on the sales of stocks and/or bonds
- Self-employed business income and expenses
- Lottery and/or gambling winnings and losses
- State refund amount
- Social Security and/or unemployment income
- Income and expenses from rentals
- Record of purchase or sale of real estate
- Medical and dental expenses
- Real estate and personal property taxes
- Estimated taxes or foreign taxes paid
- Cash and non-cash charitable donations
- Mortgage or home equity loan interest paid (Form 1098)
- Unreimbursed employment-related expenses
- Job-related educational expenses
- Child care expenses and provider information And any other
items that you think may be necessary for your taxes.
What do I do if I receive a notice from the IRS about
my taxes?
Don’t panic! the first thing to
do is carefully read the notice—to determine why it was
sent, what the IRS is requesting, and what they want you to
do. It may be nothing of importance; it may even be a notice
in your favor. After reading it you should bring it to our
attention.
How long do I keep my records and tax
returns?
You should keep your records and tax
returns for at least 3 years from the date the return was
filed or the date the return was required to be filed,
whichever is later. It is recommended that you keep these
records longer if possible.
My employer tells me I will receive a 1099. What does
this mean for my taxes?
When you receive a 1099, it means you are considered an
independent contractor. You will not have any withholding or
payroll taxes deducted from your pay. You should keep track
of all business expenses and a journal of your mileage driven
for work. If the amount you expect to receive is substantial,
you should probably be making estimated tax payments. Please
contact us if you have any questions about this.