WHAT YOU NEED TO BRING
As you gather your tax documents to be submitted for tax preparation, a review of your previous year’s tax return and/or reviewing the checklist provided – may assist you in submitting all the necessary information to properly prepare your tax return.
Driver’s license information is needed to file your tax returns
A copy of your driver’s license is needed if:
- I did not prepare your 2022 tax return
- You renewed your driver’s license during 2023
- Will need issue date and expiration date
INDIVIDUAL TAX PREPARATION CHECKLIST:
- All Forms W-2 (wages) including all copies of each W2, 1099-INT (interest), 1099-DIV (dividends), 1099-B (proceeds from broker or barter transactions), 1099-R (pensions and IRA distributions); Schedules K-1 from partnerships, S corporations, estates and trusts, and other income reporting statements
**You may not receive tax documents for Investment accounts until the end of February or even into March. Please be sure to include all pages*
- Alimony payments are no longer deductible by the payer or included in income of the recipient, for agreements executed after January 1, 2019.
- Form 1095-A health insurance purchased through the MARKETPLACE.
- Unemployment income Form 1099-G. If you did not receive this tax document, you may have to obtain a copy on the ODJFS website.
- Copy of the closing statement if you bought or sold real estate.
- For those who are eligible to itemize, please provide details for medical, taxes, interest, charitable and other eligible itemized deductions.
- Medical deductions are first reduced by 7.5% of your adjusted gross income before any deduction qualifies towards your itemized deductions
- Note: Even though medical expenses may not be favorable to itemize your deductions for federal tax purposes, it may create a deduction on your state tax return.
- Note: Even though medical expenses may not be favorable to itemize your deductions for federal tax purposes, it may create a deduction on your state tax return.
- Medical deductions are first reduced by 7.5% of your adjusted gross income before any deduction qualifies towards your itemized deductions
- Be sure you keep a copy of any acknowledgement letters received from charitable organizations for contributions of $250 or more.
- Standard deductions have increased and are still available for all taxpayers who do not itemize. Standard deduction amounts are based on your filing status and increase for those over 65.
TAX PLANNING FOR INDIVIDUALS
There are many events that occur during the year that can affect your tax situation. Preparation of your tax return involves summarizing transactions and events that occurred during the prior year. In most situations, tax implications are established at the time a transaction occurs. However, negative tax effects can be avoided by proper planning. Please contact us in advance if you have questions about tax effects of a transaction or event, including the following
Pension or
IRA Distributions
Retirement
Significant change in
income or deductions
Notice from IRS or other
revenue department
Job change
Marriage, Divorce
or Separation
Attainment of age
59-1/2 or 73
Self-employment
Sale or purchase of
a business
Charitable contributions of property $5,000
or more
Sale or purchase of a residence or other
real estate
Gifts to individuals
of $17,000 or more