LivingstonCPA - Individual and Small Business Taxation - Small Business Accounting

Tax Checklist for Individuals

If interested in using LivingstonCPA, please use this list as a guide in gathering your information, complete it with your personal contact information below, and enclose it with your submission. Please provide any additional information related to income and expenses that may be required for your tax return. Have questions? Contact us.

  • A copy of last year's Federal and State (if applicable) tax returns (for new clients only).

Income information:

  • W-2s and Interest and Dividend statements
    (Form 1099-INT or 1099-DIV)
  • Individual Retirement Account year-end statement, plus any contributions or withdrawals through April 15th of the year
    following the tax return year
  • Unemployment income statements
  • Trust, "S" corporation, and/or Partnership income amounts
    (Form K-1)
  • Income and expenses from sole proprietorships
  • Income and expenses for rental properties and number of days occupied for personal purposes and rental purposes.
  • Details of any capital gains transactions, including cost basis and date of purchase ( Sale info on 1099-B).
  • Other income reported on 1099-MISC

Expense information:

  • Amounts of mortgage interest and points paid (Form 1098)
  • Real estate taxes paid
  • Charitable donations (both cash and non-cash) and mileage
  • Tuition-related expenses: Provide name of student and cost of tuition, course materials, and computer equipment used by student paid during tax year (and not reimbursed by scholarship).
  • Out-of-pocket medical expenses and mileage
  • Non-reimbursed employee business expenses
  • Tax preparation fees and investment expenses
  • Sales tax paid: If ALL receipts kept for all purchases during the year, total actual sales tax paid is deductible. If receipts are not kept (most people will fall into this category), the IRS table will be used to calculate the appropriate sales tax deduction (figured by paid preparer).
  • If IRS tables are used, sales tax paid on a motor vehicle (including a car, motorcycle, motor home, recreational vehicle, sport utility vehicle, truck, van, and off-road vehicle), boat, aircraft, home (including a mobile or prefabricated home), and materials to build a home is deductible IN ADDITION TO the amounts deducted per the tables.
  • More green for going "green". The residential energy-efficient property credit is extended through 2016. In general, solar electric, solar water heating and fuel cell property qualify for this credit. Starting in 2008, small wind energy and geothermal heat pump property also qualify.
  • If you've made any of the above "green" improvements to your home during the tax year, please provide to me purchase date and price and a brief description of the permanent home improvements.
  • It's not necessary, but If you want to investigate on your own whether you qualify see pp. 3-4 of this IRS document.
  • For business use of your car please provide total number of miles driven for business (do not include commuting miles to and from your primary place of business) and the total number of miles driven for the year. For example 5,000 business miles and 15,000 total miles (which includes the business portion).

First Time Homebuyer Credit

  • Purchase date (title closing date) and price of home
  • If anyone other than your spouse owns an interest in the home, what percentage do you own?

Other Information:

  • Full name, date of birth, and social security number for all dependents
  • State of Florida intangible tax was repealed. Year-end market values of non-retirement assets is no longer necessary.
  • Sale of home info - only if gain exceeds $250k (single) or $500k (married filing jointly) and/or you didn't live in it as your primary residence for at least two years
  • Contact information (see downloadable tax checklist for specific information needed)

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