On the 2023 tax return, there is a reconciliation on the stimulus checks you received. I need proof of stimulus checks received if:
If you received a different amount other than $1,200 per person / $500 per qualified child
If you received a different amount other than $600 per person including per qualified child
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
- If you renewed your driver’s license during 2023
INDIVIDUAL TAX PREPARATION CHECKLIST:
- All Forms W-2 (wages) including all copies of your employer, 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
*Tax statements for investments may not be received until end of
February or even into March, please be sure to include all pages*
- Form 1095-A (health insurance purchased through a public exchange), Form 1095-B (health insurance purchased outside of a public exchange), or Form 1095-C (employer-provided health insurance coverage).
- Alimony payments are no longer deductible by the payer or included in income of the recipient, for agreements executed after January 1, 2019.
- Unemployment income Form 1099-G must be mailed. If you did not receive this tax document, you may have to obtain a copy on the ODJFS web site.
*Note: Please be aware that identify fraud has occurred and a 1099-G may have been issued to you –
please be sure to bring this tax document and note you did not receive these benefits
- Copy of the closing statement if you bought or sold real estate
- Mileage claimed, should include total mileage in addition to the business mileage driven for the year
*2023 mileage rate – 65.5 cents / 2022 mileage rate 62.5 cents
- Estimated tax payments – include amount and date paid for each payment
- Income and deductions detailed by category for each business or rental activity
- 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.
— Be sure to have a copy of the 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. For 2022, if you are taking the standard deduction, you will be eligible to deduct up to $300 of charitable contributions – you will need to provide this documentation.
*NOTE: If you are NOT using an organizer, please provide any changes in marital status and/or dependents.
In addition, update any changes in your address and/or contact information.
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 transactions 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:
Significant change in
income or deductions
Notice from IRS or other
Attainment of age
59-1/2 or 72
Sale or purchase of
Charitable contributions of
property in excess of $5,000
Sale or purchase of a residence or other
Gifts (over $15,000 to
*NOTE: please provide all pages of tax documents even if using an organizer Extensions for individuals is October 16, 2023