Tips for Tax Procrastinators: Use a checklist
Filed under: Tax
When you're getting your tax documents ready, it's helpful to follow a checklist to make sure you've got everything you need. There are hundreds of tax forms and thousands of tax situation, so this checklist doesn't cover them all. But it's a great basic list to follow when you're getting together a simple tax return:- Personal information for all people being included on the tax return, including social security numbers
- W-2s for wages
- 1099s for small business or subcontractor income
- 1099s for interest or dividends received
- Information on last year's state tax refund
- Information on sales of stocks
- Retirement account contributions
- Education costs for college or graduate school
- Medical expenses, including health insurance paid
- Items related to your home: mortgage interest, property taxes
- Charitable contributions
- Child care expense details (provider, tax i.d. number, total paid)
- State or federal estimated taxes paid last year
- Small Business - Information on your income and expenses if you will be filing Schedule C
- Rental Properties - Information on your income and expenses if you will be filing Schedule E
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Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
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