Roseville, CA CPA / The Tax Office, Inc.

INDIVIDUAL - TAX PREPARATION CHECKLIST

As a tax professional, I am ethically bound to help you pay the lowest tax you are legally required to pay. This list will help me do my job. It is a concise, though not exhaustive, outline of some of the documents I will need when I meet with you.

Not every category will apply to you. Just pick the ones that do apply and make sure you have that information available. Check things off as you collect them, and enter information such as Social Security numbers and cash amounts.

If you maintain your financial data in a personal finance software program such as Quickbooks®, print a report of your financial transactions for 2008. This is an invaluable tax preparation resource having this information in a report is much easier than going through your checks for the entire year.

Now you're ready to start gathering information. This income tax preparation checklist is divided into relevant categories to help you organize your tax information. As you receive or locate an item, check it off of the list.

Personal Information

Social Security Numbers

Yours Date of Birth

Your Spouse's Date of Birth

Dependents' ____________________Date of Birth____ _____ Relationship

Dependents' ____________________Date of Birth___ _____ Relationship

Dependents' ____________________Date of Birth__ ____ _ Relationship

Dependents' ____________________Date of Birth____ __ Relationship

Dependents' ____________________Date of Birth________ Relationship

Please Provide:

1. Copies of all Social Security Cards.

2. Form 8332, copies of your divorce decree, or other documents proving your right to claim a child living with your ex-spouse.

Dependent Care Expenses

(1) Childcare provider's name

Provider's address and phone number

Provider's tax ID or Social Security number

Dependent under care:

(2) Childcare provider's name

Provider's address and phone number

Dependent under care:

(3) Childcare provider's name

Provider's address and phone number

Dependent under care:

Provider's tax ID or Social Security number

Please provide:

Invoices or Statement of Charges and Cancelled Checks

Education Costs

Name of Student

Scholarships and fellowships

Please Provide:

Receipts for tuition (or cancelled checks) for post-high school education

Tuition statement - Form 1098-T

Adoption Expenses

Social Security number or ID number of adopted child _____________________________

Please provide:

Receipts or cancelled checks of all expenses

Income Tax Information

Please provide the following:

Income From Jobs

· Forms W-2 for all employers for whom you and your spouse worked during the year

Investment Income

· Interest income - Form 1099-INT

· Dividend income - Form 1099-DIV

· Proceeds from the sale of stocks, bonds, etc. - Form 1099-B

· Dates of acquisition and records of your cost or other basis in property you sold

· Confirmation slips or brokers' statements for all stocks, etc., that you sold in 2006

· Schedule(s) K-1 (Form 1065) from investments in partnerships

· Schedule(s) K-1 (Form 1120S) from investments in S Corporations

Income from stock option exercises and sales:

· Stock option agreement (showing type of options you received)

· Stock option statement showing exercise prices of options

· Form 1099-B for proceeds from stock sales

Sale of employee stock purchase plan shares:

· Form 1099-B for proceeds from stock sales

· Stock price on grant date ________________________________________________

· Stock price on purchase date _____________________________________________

· If the stock sale occurred before qualifying period began, Form W-2 will show "compensation income" from a disqualifying disposition

Prior Years State Refund

· Form 1099-G from state or local governments

· State income tax return from 2005, if any

· City income tax return from 2005, if any

Alimony Received

· Bank statements or record of deposits

Self-Employment Information or Farming Income

Financial Statements for your business, Forms 1099-MISC, Schedules K-1 or

· Income records

· Invoices or billings

· Bank statements

· Cancelled checks for expenses

· Payroll records

In addition you will need:

· Invoices for major purchases of machinery, equipment, furniture

Vehicle Information

· Total miles driven for the year (or beginning/ending odometer readings)

· Total business miles driven for the year

· Amount of parking & tolls paid, DMV registration fees and if financed interest paid

· If you want to claim actual expenses, receipts or totals for gas, oil, car washes, lease payments, insurance, etc.

· Inventory records, if your business maintains an inventory of goods or materials

If You Use Your Home for Business

· Square footage of your home office area

· Total square footage of your home

· Total rent paid, if home is rented

· Homeowner's insurance premium payments

· Invoices for repairs and maintenance on your house

· Utility Payments

· Year Purchased

· Purchase Price including any major Improvements

IRA/Pension Distributions

Please provide:

· Form 1099-R for payments from IRAs or retirement plans

· Account summary form for the year for your IRA accounts, or

· Deposit receipts and contribution records

Rental Property Income

· Profit and loss statements from your property manager, or

· List of all expenses and method pf paid

· Form 1099-MISC or other records for rental income paid to you

· Mortgage interest reported on Form 1098

· Property tax payments from assessor's bill, cancelled checks, or impound records

· Closing escrow papers of purchased or refinanced during year

Unemployment Income

· Form 1099-G from your state unemployment agency

Social Security Benefits

· Form SSA-1099

Income From Sales of Property if Sold in 2006

· Sales proceeds: Bill of sale, escrow statement, closing statement or other records

· Cost of the property you sold: Invoices, receipts, or cancelled checks

· Improvements made to the property: Invoices or construction contracts and cancelled checks

· If the property was sold at a profit before 2006 on the installment basis:

· Amount of principal collected on the installment note owed to you and the date you received each payment

· Amount of interest collected on the note

· Name, address, and Social Security number of the buyer

Miscellaneous Income

· Jury duty pay records

· Form(s) W-2G for gambling and lottery winnings

· Receipts for all gambling purchases and expenses including travel and lodging

· Form 1099-MISC for prizes and awards you received

· Form 1099-MSA for distributions from medical savings accounts

· Scholarship records (if you used the money for anything other than tuition, books, and supplies)

· Director's fees receipts if you received money for serving on a corporate board of directors

Adjustments

IRA Contributions

· Amount of Contribution during 2006

· Year-end account summary

Student Loan Interest

· Form 1098-E

Medical Savings Account Contributions

· Account statements or

· Cancelled checks

Moving Expenses

· Invoices from moving companies or

· Cancelled checks and

· Paycheck stub for moving expense reimbursements

Self-employed Health Insurance

· Insurance premium bills, or

· Cancelled checks

Keogh, SEP, SIMPLE, and Other Self-employed Pension Plans

· Year-end account summary, or

· Cancelled checks

Alimony Paid

Cancelled checks
ex-spouse's name and social security number

Educator Expenses

Cancelled checks for expenses paid for classroom supplies, etc.

Itemized Deductions

Interest You Paid

Home mortgage interest:

· Form 1098, or

· Your mortgage statement or bill for January 2006

Points:

· Form 1098 if you purchased a home in 2005

Investment interest expense:

· Brokers' statements showing margin interest paid

· Loan statements for loans taken out to purchase investments

Charitable Donations

Cash donations:

· Charity bills, receipts

· Cancelled checks

· Year-end paycheck stub if donations were paid through your wages

· Records of the mileage incurred for charitable purposes (such as Scouts).

Donations of Property:

· Receipts from charitable agency

· Itemized List including Estimated value of property given

Casualty and Theft Losses

· Description of property damaged or stolen

· Receipts or cancelled checks showing cost of property

· Insurance policy and insurance reports showing reimbursement

· Appraisal fees if applicable

Job Expenses

· Reimbursement check stubs or reports from your employer

· Union dues - paycheck stub for automatic withdrawals

· Gifts to clients, etc. - receipts showing date, cost, and description

· Supplies - receipts or bills

· Property purchased for use in your work - invoices, receipts

· Uniform and special clothing costs - bills or paycheck stubs showing deductions

· Seminar fees - receipts or invoices

· Professional publications and books - receipts or invoices

Receipts for small tools and supplies you purchased Job travel information:

· Invoices, receipts, or ticket stubs for transportation

· Mileage records per vehicle used

· Hotel bills

· Restaurant tickets showing name and address of establishment

· Parking fee receipts

Job search expenses:

· Long-distance call bills

· Resume costs (printing, mailing, resume service, etc.)

· Transportation bills and mileage records

· Employment agency fees

· Career counseling costs

Job-related educational expenses:

Tuition, fee, and book receipts for education that maintains or improves your present skills
Transportation receipts
Lodging receipts if you take classes away from home
Other Miscellaneous Tax Deductions
Tax return preparation fees - invoices or cancelled checks
Cost of income tax return preparation software and books - receipts or cancelled checks
Safe deposit box rental fees from bank invoice or statement
IRA custodial fees (if paid from a non-IRA account)
Payroll records for office workers managing your investments
Investment advice costs: invoices or bills

Medical and Dental Expenses

· Medical bills or cancelled checks

· Form SSA-1099 for Medicare premiums paid from your social security benefits

· Year-end pay stub if premiums were paid through your wages (only if the deductions were after-tax)

· Mileage records for trips to the doctor, clinics, etc. For 2006, the standard mileage rate for medical-related driving is 18 cents per mile.

Taxes

· State and Local Income Taxes

Last year's state income tax return
Forms W-2
Cancelled checks for state estimates paid

Real Estate Taxes

· Tax collector bills or cancelled checks

· Form 1098 or closing statement if you bought, sold, or refinanced property in the current year

Personal Property Taxes

· DMV Statements

Tax Payments

· Quarterly estimated tax payments - Records showing the date paid and amount

Direct Deposit Information

If you want your tax refund deposited directly into your bank account, you need you're:
Copy of your Bank Check not a deposit slip

Miscellaneous

· Copy of your 2005 tax return if not prepared by the Tax Office, Inc.

· Any Internal Revenue Service, California or Governmental Agency correspondence received during the year

· Bill of sale for a hybrid automobile purchased in 2006

· Receipts for energy-saving improvements to your home in 2006

Individual Tax Preparation Checklist

· State and Local Income Taxes

Real Estate Taxes

Personal Property Taxes