Preparing for my Annual CPA Tax Meeting

Every year I take the opportunity of owning a personal finance blog to organize my thoughts and paperwork for my upcoming CPA meeting.  Could I do this in a word document? Sure, but why own a personal finance blog if I can’t ask others if they thought I missed anything.

While my family’s income isn’t much higher than the average family’s income our situation is absolutely more complicated.  My CPA often jokes that I am one of his best prepared clients.  I have thought about sending him this post but it isn’t worth explaining what a personal finance blog is!

I know it may be hard to offer an idea, but if you think I missed anything or have any thoughts please let me know!  

My Family’s Income

  • My W2
  • My Wife’s 1099 – The wife is self employed and unincorporated
  • My Wife’s corporate income records which owns this blog and a few other sites
  • My small law practice income information
  • My K-1 from my investment club

My Family’s Banking Information

  • 1099s for my Savings Accounts
  • 1099 for my Wife’s saving account
  • 1099 for Joint Saving Accounts
  • Escrow interest info from our mortgagee

My Family’s Investing Information

  • 4 Fidelity Non-Qualified Account information (Reason I listed 4 was to see where we end up after next year)
  • My Wife’s non-qualified investment account held at my employer
  • My Traditional IRA information
  • My Wife’s Roth IRA information
  • My 401(k) should be included with my W2

My Family’s Deductions

  • We bought our current home in January of 2013 so I have the information so that the CPA can determine what is and what is not deductible pursuant to Publication 530.
  • Mortgage interest! and plenty of it
  • Law school loan interest
  • Charitable deductions
  • A laundry list of things that may be deductible since part of our home is used as an office (interestingly enough a quick google search indicates that the IRS has provided yet another way to calculate the deductibility of home office expenses - again, going to let the CPA handle this):
    • Electricity / Heating Costs / Gas Costs
    • Internet & Phone
  • Other Business expenses:
    • Automobile costs
    • Certain additional Insurances

See anything I may be missing?

One Response to Preparing for my Annual CPA Tax Meeting

  1. I am sure you are aware that home offices are high on the list of flagging you for an audit.

    I do all our income taxes online. Our taxes appear pretty simple compared to yours, though.

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