The Rooney Slant for 2019
“Keep more of what you make, make more from what you keep!”
We wish you and the ones you love a wonderful and productive 2019!
Tax season is here and government agencies are tooling up for it.
We are ready!
It’s time to gather your financial information from this last year so we can prepare your 2018 income tax returns.
In our mid-year “The Rooney Slant” tax planning alert, we outlined changes taking effect in 2018
There remain “technical” corrections act changes pending in the early 2019 tax legislation at both the Federal level and for some states, such as Arizona. There are some tax act changes which will take effect in 2018 (retroactive) and 2019. Some of these are permanent changes, others will expire after a few short years.
To prepare for your 2018 taxes, the following is a condensed list of items one needs to collect in order to report the appropriate information on the 1040 Individual Tax Return form:
- Form(s) W-2 (wages, etc.)
- Form(s) 1099 (interest, dividends, etc.)
- Brokerage statements from stock, bond or other investment transactions (1099 & 1099-B)
- Schedule(s) K-1 (income / loss from partnerships, S corporations, etc.).
- Form(s) 1098 (mortgage interest)
- Itemized deductions (medical expenses, property tax, charitable donations, etc.).
- Closing statements pertaining to real estate transactions
- All other supporting documents (schedules, checkbooks, etc. needed to determine nature of income or deductions) and copies of estimated tax payments
- Any tax notices received from the IRS or other tax authorities that you wish us to assist in addressing
If you have a 1040 with a Schedule C, a corporation or a partnership, you will also want to complete our Business Checklist to ensure you have all of the pertinent information for your tax forms.
In order to gather all information needed for your tax preparation, contact us. Once you have retained our services and signed an engagement letter with us, we will provide you with a complete organizer which will help guide you in gathering all the supporting documentation necessary to complete your tax return(s). Using the Organizer will help reduce the time charges associated with preparing you tax returns.
