How To Prepare For Your Meeting With Us

When it comes to any kind of tax preparation or tax-related matter, preparation is key. When you come to us for your appointment, you want to be sure you have anything and everything you may need for our meeting, but there is no sense in bringing unneeded documents. To help you have anything you may need, our North Carolina tax accountants have taken the time to prepare a tax preparation checklist to help you gather the proper documents for whatever tax issue you are dealing with.

Information and Documents We Need From Yyou:

Personal Information

This information tells the IRS exactly who’s filing, who is covered in your tax return, and where to deposit your tax refund.

  • Social Security numbers and dates of birth for you, your spouse, and your dependents
  • A copy of last year’s tax return if not prepared by this office

Income Information and Documents

Providing the necessary income tax documents to us can help ensure a smooth and efficient meeting that enables us to accurately assess and report your income information. Gathering the appropriate documents before coming to our Greensboro, NC office can save you another trip and appointment in whatever process you are working on with your taxes. If you have any of these documents, be sure to bring them to your tax preparation meeting with us:
  • W-2 forms for you and your spouse
  • 1099-C forms for cancellation
  • 1099-G forms for unemployment income, or state or local tax refunds
  • 1099-MISC forms for you and your spouse
  • 1099-NEC forms for self-employment income
  • 1099-R for retirement income
  • 1099-INT, -DIV, -B, or K-1s for Dividends, interest income, stock and bond sales
  • HUD-1 settlement statement for purchase and/or sale of real estate
  • K-1 forms issued to you by LLC’s, Partnerships, or S Corporations
  • Sole Proprietor Business or farming income and expenses
  • Rental property income and expenses
  • Prior year installment sale information – Forms 6252, principal and interest collected during the year, SSN and address for payer

We are committed to helping you earn the best possible outcome in your taxes, and we explore all options for minimizing what you owe while maximizing the return you receive. Proper documentation is the key to achieving this goal, and the following items can help reduce the amount of your income that is taxed, which can increase your tax refund, or lower the amount you owe.

  • Form 1098-E for student loan interest paid (or loan statements for student loans)
  • Form 1098-T for tuition paid (or receipts/canceled checks for tuition paid for post-high school)

If you are a teacher, you have some special factors to consider in your taxes. So we can help you account for them, please be sure to bring:

  • Forms 5498 for retirement plans and IRA’s
  • Medical and dental expense records
  • Self-employed health insurance payment records of moving
  • Keogh, SEP, SIMPLE, and other self-employed pension plans
  • Child care costs: provider’s name, address, tax ID, and amount paid
  • Forms 1098: Mortgage interest, private mortgage insurance (PMI), and points you paid
  • Investment interest expenses
  • Charitable donations: cash amounts, official charity receipts, canceled checks

Deductions and Credits (continued)

These articles help illustrate the specific records and financial details of your tax situation. These documents can include critical information to help you earn the outcome you deserve in this year’s taxes. While these may not be easily-accessed documents, they are important to have, so be sure to bring documents such as:
  • Records/amounts of other miscellaneous tax deductions: union dues; unreimbursed employee expenses (uniforms, supplies, seminars, continuing education, publications, travel, etc.)
  • Rental property income/expenses: profit/loss statement, rental property suspended loss information
  • Records of home business expenses, home size/office size, home expenses

Taxes You’ve Paid

The taxes you have already paid in past years can be just as important as the taxes you are about to pay this year. These documents are especially important if the related information should ever come into question in events like an audit. For the sake of proper precaution, be sure to bring these documents to your tax preparation meeting with us:
  • State and local income taxes paid
  • Vehicle license fees based on value of vehicle
  • Real estate taxes paid
  • Personal property taxes

Other Information

Some information about your financial history may be unusual, and cause you to forget about it as a result. However unusual you may consider it to be, it could have a great impact on your tax return, so be sure to include any documentation that you believe could be relevant to filing your taxes, such as:

  • Estimated tax payments made during the year (self-employed)
  • Foreign bank account information: location, name of bank, account number, peak value of account during the year
  • Prior-year refund applied to current year and/or any amount paid with an extension to file

We've been helping tax payers with IRS Collections and Back Taxes for over 25 years.

Contact Swaim & Associates for a consultation.
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