Preparing for your tax return

What you will need to organize your information

We have sent out the 2010 Tax Organizer and all information from last year’s tax return has been transferred onto this already.  If you do not have a tax organizer please contact our office and we will send you a blank one to fill out.  Use that as a guide in helping you find your pertinent information.  While some expenses and incomes may have changed, this is a good outline for what to look for.

As tax documents, such as W-2s, 1099s, Social Security Statements, and Unemployment Income Statements start to arrive, collect them in one place. Other items that are not limited to, but may include are:

  • Charitable donations – If you do a lot of volunteer work, you should also look through your calendar to identify the days on which you volunteered and any expenses you incurred doing that volunteer work. (You can deduct things such as mileage or parking expenses.)
  • Educational expenses
  • Healthcare expenses, such as doctors’ bills, prescriptions and even transportation to the doctor’s office
  • Investment related activities
  • Job-hunting expenses
  • K-1 Forms
  • Large Purchases – Autos, recreation vehicles, boats, etc.
  • Mortgage interest statement – Form 1098
  • Property taxes
  • Unreimbursed employee business expenses
  • Vehicle registration

If you are unsure about what is an itemized deduction you can go the IRS’s website at http://www.irs.gov/faqs/content/0,,id=199873,00.html and it has more information on the subject.

  • If you are using Quickbooks you can email me the data as a Portable Company File(file ends in .QBM). Here are instruction on how to save your file. Or you can send me a Profit and Loss detail and a Trial Balance.
  • If you are using an online financial management program like Mint you can download your 2010 information as a csv file and open in an excel spreadsheet and save as an excel file and email to me as well.  If you are not familiar with Mint, I recommend looking at their website at www.mint.com.

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