Tax Preparation Checklist for Individuals

• A copy of last year's Federal and State tax returns (only if ITS did not prepare your return).
• All statements of income, such as:
  • W-2's
  • Interest and Dividend statements (Form 1099)
  • Pension income amounts including Social Security
  • Individual Retirement Account contributions or withdrawals
  • Unemployment income statements
  • Trust, "S" corporation, and/or Partnership income amounts (Form K-1)
• Amounts of mortgage interest and points paid (Form 1098), real estate and auto excise taxes paid, charitable donations (both cash and non-cash), and "out-of-pocket" medical expenses
• Records of child care expenses including amounts and payee
• Lists of any job related expenses, such as:
  • Moving expenses (if your move was job related)
  • Tools and other equipment such as computers, etc.
  • Safety clothing and uniforms
  • Professional books, journals, dues, union dues, etc.
• Amounts of any estimated tax payments
• Details of any capital gains transactions
• If you own rental property or a small business, we will need to see the records pertaining to the property or business

  Tax Preparation Checklist for Businesses

  • A copy of last year's Federal and State tax returns.
  • Articles of incorporation, partnership agreement, etc.
  • Copy of current period balance sheet, income statement, trail balance and general ledger
  • Prior year financial statements
  • List of all business owners including:
    Name, social security numbers, address, % of ownership, date ownership acquired and detail of distributions
  • Schedule of owner fringe benefits received
  • Schedule of loans to/from owners including loan agreements
  • Details of any related party transactions
  • Copies of all payroll forms and 1099 forms for the year
  • Amounts of any estimated tax payments
  • Listing of interest and dividend income
  • Vehicle information and use including vehicle leases
  • Information on any employee benefit plans including retirement plans, health insurance, etc.
  • Details of meals and entertainment expense
  • Any Internal Revenue Service and Department of Revenue correspondence received during the year
  • List of any activities in other states
  • Details of fixed assets and depreciation schedules

Doing Your Own Books? Get Prepared Checklist