Tax preparation

In general, we will need all documents and information supporting income and tax-deductible expenses to prepare personal Federal tax returns. These documents vary depending on the types of income and expense you have, the types of savings or investments you have, and whether you are employed vs. self-employed. Below are several scenarios. Please look through the ones that apply to you for the types of documents and information that are necessary to prepare your Federal tax return.

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Employed

• Form(s) W-2
• List of un-reimbursed business expenses, if any, by category, e.g., union dues, professional memberships
• If you drive your car on the job (other than commuting), mileage information: Business miles, commuting miles, personal miles per vehicle.

Self-employed

• Form(s) 1099-Misc
• Statement of total income and expenses by category, e.g., office supplies, rent, insurance, commissions, gifts, education, etc.
• List of equipment purchased showing date purchased and amount paid (including sales tax)
• Amount of health insurance premiums paid for taxpayers and dependents
• If you have vehicle expenses
  - All expenses by category (lease, interest, fuel, maintenance, insurance, etc.) per vehicle
  - Each of business miles, personal miles, commuting miles and total miles per vehicle used for business
  - If the first year of use, the purchase or lease paperwork
• If you use a home office
  - list of house-related expenses, e.g., utilities, that can be reasonably prorated to the home office
  - Square footage of area exclusively used for business and total house square footage
• Dates and amounts of quarterly estimated tax payments made to the IRS for Federal income taxes

Own your own home

• Form 1098 mortgage interest for each mortgage
• HUD-1 settlement statement if you purchased, sold, or refinanced your home
• Amount of property taxes you paid if not included in your monthly payment
• RTA excise tax amount portion of your vehicle(s) license tabs (and Monorail portion as well if you live in Seattle)
• Total sales taxes paid or, if you don't know, sales tax paid on vehicles and home renovations (see more info on Announcements tab)
• List of cash/check charitable contributions with total
• List of non-cash charitable contributions (if more than $500 total; date, amount, charity name & address, and item description are needed for each donation)
• List of medical expenses not covered by insurance, including prescriptions, co-pays, and your share of deductible

Have children

• Full name, Social Security #, birth date
• Day care expense amount per child, along with the name, address and tax id # of the care provider
• Higher education tuition and books per child
• Interest paid on student loans
• Income details of any accounts in the child's name (UGMA or otherwise)

Have savings and/or brokerage accounts

• Form(s) 1099-Int, 1099-Div and 1099-B, investment income, for each investment account
• Share count, date purchased, and amount paid for each security sold in the year ("basis")
• Amounts of contributions to Traditional or Roth IRAs
• Form(s) 1099-R for any withdrawals or rollovers from an IRA or 401(k)

Own a rental property

• Statement of total income and expense by category for each property, e.g., mortgage interest, property taxes, utilities, advertising, insurance, repairs, maintenance, HOA dues, etc.
• List of major purchases and improvements showing date purchased and amount paid (including sales tax)
• Form 1098 mortgage interest for each mortgage
• HUD-1 settlement statement if you purchased or refinanced the rental property

Miscellaneous

• A voided check for direct deposit of refund (within about two weeks of efiling) or automatic withdrawal of tax due (on April 15, 2008). Or just confirm to us that your bank account information is the same.
• If you collect Social Security, the associated annual statement(s).
• If you collect unemployment compensation, the annual Form 1099-G showing amounts received and federal tax withheld.
• If you pay on student loans, the amount of interest paid
• If you pay or receive alimony, the amount paid/received and the name and social security # of the other party.
• If this is your first year with us, your 2006 Form 1040, Federal Income Tax Return, with all attached supporting schedules.