For the past 7 or 8 years I have used an accountant to prepare my taxes. The reason I switched over from turbo tax or some other do it yourself method was because when I got married The Wife’s taxes were a little bit more complicated. Before I got married all I had was a small W-2 income and my student loan deductions…ah the easy days! Then I went ahead and got married, The Wife, was and still is, an independent sales representative (1099 income). I figured for the cost of using a certified public accountant I would get the money back in either actual deductions I may have missed, or someone to yell at if/when the IRS called to question those deductions (luckily it has been the former and not the latter).
What do I need to Bring to my Income Tax Account with my Accountant?
Obviously this post is geared towards me, but it may remind you of something that you may need.
- My W2
- The Wife’s 1099
- Law Offices of Me Income Information
- Online World Income (all payments are done via paypal so this is actually pretty easy)
- Investment Club – This is really a secondary business filing, but I handle the contact with the CPA so I do this all together.
- Bank 1099s – it is amazing how much this has calmed down from the bank bonus days, so really just my ING/CapitalOne360 Account
- 1099 Escrow Income
- Perpetual Income Portfolio – My 1099-Div and Capital Gains/Losses 1099 isn’t available yet! So I had to print out a ton of information. I hope this will work for my CPA.
- All of my family’s investment information – I have discussed the topic in the past, but I keep all monetary gifts to my nieces and nephews (as well as my children) in my own name. I then invest it for them…do I pay taxes on it? Of course, but the few dollars I pay is well worth the control I have over it.
- Joint Account I have with my Brother – I don’t talk about this often but maybe I will this year
- Wife’s investment portfolio form her parent’s and grandparent’s gifts accumulated over the better part of her life
- Mortgage Interest / Property Tax Paid – Same 1098 Form
- Student Loan Interest Deduction
- Home Office Deductions – I provide my CPA with pure numbers and then he figures out the percentage I can deduct
- Cable, Internet and Phone
- Cell Phones
- IRA and Roth IRA Contribution information