Personal information

  • Driver’s License or State ID for anyone listed on the return
  • Social security cards for anyone listed on the tax return
  •  Birth Certificates of Children listed on the tax return, if any
  • Banking information such as a voided check where you would like your refund deposited (if applicable)

Business Tax Return Item List –

  •  Copy of your business prior year’s tax return (new clients only)
  • Copy of your personal prior year’s tax return (new clients only)
  • Bookkeeping
    • Updated company’s bookkeeping thru 12-31
    • Print a profit & loss statement and a balance sheet (in cash basis)
  • Copies of the 1099’s (received and distributed)
  • Copies of any payroll records, if any (including W-2s and W-3)
  • Shareholder/member’s basis worksheets as of prior year
  • Copies of any estimated tax payments made for year, if any
  • Copies of the HUD’s for your rental properties, if any
  • List of business assets purchased in the year include the purchase date, cost, and a description of the asset
  • List of business assets disposed in the year including the sales date, sale price, a description of the asset, and copy of the bill of sale
  • If this is your first year in business, we will need a copy of the EIN Letter from the IRS
  •  If your business elected to be taxed as an s-corp, we will need a copy of the s-corp election letter received from the IRS
  • Copy of your Operating Agreement or Company Bylaws

Personal Tax Return Item List –

  • W-2’s, if any
  • Any income received in the year not reported via W-2 or 1099
  • Alimony Received/Paid
  • 1099’s Received (income), if any
  • 1098’s (Mortgage Interest paid), if applicable
  • Real Estate Property Taxes paid, if applicable
  • 1098-T (Tuition Statement) and any books or material purchased
  • K-1s from Partnerships or S-corporations owned including shareholder/member’s basis worksheets as of prior year
  • Any charitable contributions
  • 1099-R’s, if applicable (Retirement Account Distributions)
  • 1099-SSA Social Security, if applicable
  • If self-employed, a summary of income and expenses
  • If you own rental property, a copy of the HUD and a summary of income and expenses
  • Copies of HUD’s for any Real Estate rental properties purchased or sold
  • If claiming a child dependent, evidence that child resides with you i.e. schools records, healthcare provider statement, medical records, child care provider records, placement agency statement, social services records, employer statement.
  • If claiming a child dependent and divorced, a copy of the divorce decree
  • Summary of Medical Expenses for you, your spouse and/or dependents, if any
  • Form 1095-A if you had health insurance from the marketplace or from 1095-B or 1095-C from your private insurance provider

FBAR (Foreign Bank Account Reporting) –

  • Report Foreign Bank and Financial Accounts. A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.
  • Bank names
  • Bank address
  • Account numbers and Swift numbers

 

  • Type of account owned or where a signature authority exists (Deposit Account or Custodial)
  • Its max value during the year per account
  • Whether they are jointly owned with a spouse or any other third person
  • Whether they are owned by a third party and no financial interest in such account by the taxpayer
DOWNLOAD
CHECKLIST

📢 Real Estate Investors

Are you worried that you aren't saving all you can in taxes?

Learn all of this and more at the Tax Planning Strategies Webinar For Real Estate Investors, Brokers, Realtors, Landlords, Wholesalers, Rehabbers, Airbnb’ers