A: You will need to bring all the relevant tax documents that will be needed to complete your tax return. These could include, but may not be limited to:

* W-2's * Childcare records
* 1099-B's * Medical Expense records
* 1099-DIV's * Mortgage/Closing documents
* 1099-G's * Home Improvement documents
*1099-INT's * Proof of Charitable Contributions
*1099-MISC's * Receipts for Non-Reimbursed Business Expenses
*1099-R's * Self-Employment Income/Expense records

You should also bring your previous two years tax returns so that the preparer can see how you have filed your returns in the past.

Tax Tips Small Business

  • Determining Qualified Business Expenses

    Be sure to deduct every legitimate expense

    Amounts you spend in the course of conducting business are generally deductible from the gross income of that business. This includes any start-up expenses. You can claim amounts spent for items ordinary and necessary in your trade or business as a deduction against your income. Otherwise, the amounts are amortized, depreciated, or expensed depending on the nature of the purchases.

    Read more ...

Small Business Quick Tip

  • Business Mileage Rate

    Instead of deducting the actual expenses for the business use of your vehicle, opt for the standard mileage rate. In 2016, you can deduct 54 cents for each business mile you drive.
Thursday, 17th January 2019
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Tax Tips Personal

  • Converting a Traditional IRA to a Roth?

    You may want to wait

    At some point, taxpayers who have a traditional IRA may wish to convert it to a Roth. Roth IRAs are more flexible in that there are no required minimum distributions when the owner reaches age 70 1/2. In addition, qualified distributions from a Roth IRA are not taxable.

    Read more ...

Personal Quick Tip

  • Medical and Charitable Mileage

    Do you use your auto for charitable purposes? What about going to and from the doctor or dentist? Your mileage for both medical and charitable purposes may be deductible on your tax return. It is important to set up a mileage log and keep it handy so you can track your deductible mileage throuhghout the year.