2016 Client Organizer

Information for Preparation of Individual Tax Returns

For a downloadable PDF version please click here.

                                                         

Information for Preparation of Individual Tax Returns

 

This list is to provide a guideline” for items that we will review and utilize for the preparation of your personal taxes for this year.  This list is not meant to be all-inclusive.

 

 Please call us if you are unsure about an item or need further clarification.

 

If this is the first year  Bausch & Associates is preparing your return, please bring your previous years Federal and State Returns.

 

Income Items

  1. Current Year W2’s and/or 1099 income for all jobs

 

  1. 1099R for pensions and IRA distributions

 

  1. Interest income from banks, Credit unions, Life Insurance Policies. etc

 

  1. Dividend income

 

  1. Did you sell any stocks or bonds? (This includes non-qualified stock options)
  1. Purchase date and price
  2. Sale date and price

 

  1. State of Georgia and/or other state refunds

 

  1. Business Income and expense

            a.         Categorize expenses and total each category

                                    (such as cell phone, office supplies, advertising, travel, meals, etc.)

            b.         Purchases/Goods for the production of business

            c.         List and Date equipment separately

                                    (such as faxes, copiers, computers, computer software, etc.) 

d.         Business mileage-total by month

 

  1. Rental Property Income and expense total

a.         Categorize expenses and total each category

                                    (such as cell phone, office supplies, advertising, travel, meals, etc.)

            b.         Purchases/Goods for the production of business

            c.         List and Date equipment separately

                                    (such as faxes, copiers, computers, computer software, etc.) 

d.         Business mileage-total by month

 

  1. Social Security 1099 (if you are receiving benefits)

 

  1. Gambling Proceeds 1099 and loss statement

 

  1. Scholarships and grants

 

  1. Other Income, i.e.

Proceeds from lawsuits

Alimony

            Debt forgiveness-credit cards, mortgage debt relief

 

  1. IRS notices /State notices

 

Tax Items

 

  1. Estimated federal and state tax payments made for the year.  Please provide a written record or your canceled checks.

 

 

  1. Deductible and nondeductible IRA contributions

 

  1. Roth IRA contributions

 

  1. Moving expenses

 

  1.  Dependent Care Expenses

 

  1. Student Loan Interest

 

  1. Expenses for elementary and secondary school teachers

 

  1. Distributions from Individual Retirement Plans for charitable purposes

 

  1. Contributions/Distributions from HSA’s

 

Deductions

 

  1. Medical expenses incurred, i.e. (from your pocket)

*Health Insurance & expenses (don’t forget chiropractic and eye care)

*Dental Insurance & expenses

*Long-term Care- medical insurance

*Mileage connected with all forms of health care (break down by month)

*Lab fees, X-Rays, other medical tests

*Medical Equipment-prescribed & rented

*Total for each category

 

  1. Taxes

Property taxes 

Ad valorem Tax

Any other property taxes

Sales Tax on 2016 purchases (please total receipts)

Sales Tax on purchase of Vehicles, boats, RV’s etc.

Sales Tax on Qualified Motor

Bill of Sale - Title Ad Valorem Tax

 

  1. Mortgage Interest

Mortgage interest (first and second)

Settlement statements for new or refinanced mortgages

Settlement statements for sale of home (when it was purchased and sold)

            Deduction for home mortgage insurance premiums.

 

  1. Cash contributions to any organization

Church/religious organizations

Children welfare programs

Girl Scout cookies and similar contributions

Animal & Wildlife Welfare programs

Volunteer expenses: Mileage, Uniforms for Hospital Volunteers, etc.

 

  1. Non cash contributions, i.e. (please provide values)

Clothing                                  Items donated to food pantries

Household items

 

  1. Miscellaneous deductions

Business expenses

Tools

Professional accreditation

Uniform expenses, maintenance

Safety Equipment

Continuing education expense (including mileage, break down by month)

Investment expenses

Investment journals-magazines

Teaching expenses

Business mileage

 

            Other Miscellaneous Deductions

                        Investment Expense

                                    Accounting fees

                                    Clerical help

                                    Custodial fees  , such as for Trust Accounts

                        Safe Deposit Box

                      

                Higher Education Expenses & Credits

 

  1. Qualified Tuition Payments

 

  1. Books/computer purchases

 

  1. For American Opportunity Credit  books and other supplies are not required to

be purchase from the educational institution.

           

  1.  For the Life Time Learning Credit books and other supplies must be purchased

from the educational institution in orderto be included in the educational credit.

 

Energy Credits

 

 

  1.  Energy Efficiency Improvement
    1. Exterior windows, including skylights
    2. Exterior Doors.
    3. Insulation and/or systems which reduce heat gain or loss

 

  1.  Qualified Residential Energy Property
    1. Heat pumps, central air conditioners, and water heaters
    2. Stoves using biomass fuel to heat a residence
    3. Natural gas, propane , or oil furnaces, hot water boilers

 

  1.  Residential Energy Efficient Property Credit
    1. Solar water heating
    2. Solar electric power
    3. Small wind systems
    4. Geothermal heat pumps
    5. Fuel cell

Taxpayer Responsibilities

 

You agree to provide us all income and deductible expense information.  If you receive additional information after we begin working on your return, you will contact us immediately to ensure your completed tax returns contain all relevant information.  Further, you must be able to provide written records of all items included on your return if audited by either the IRS or State Tax Authority. 

 

For a downloadable PDF version please click here.