I don't know about you, but every year I find myself wondering.... do I have everything I need to file my taxes properly? Should I itemize my deductions? What am I missing? I went on a hunt for some resources to help me make sure I was prepared. Below is a tax preparation checklist from H&R Block that I found to be very helpful in making sure there was no stone left unturned before filing my 2012 taxes.
Tax
Preparation Checklist
Personal
Information
Your
social security number
Your spouse's full
name and social security number
Amount of any
alimony paid and ex-spouse's social security number
Add Your 2010, 2009,
and/or 2008 tax return(s). Your Tax Professional can check them for accuracy
Other
people who may belong on your return
Dates of birth and
social security numbers
Childcare records
(including the provider's ID number) if applicable
Approximate income
of other adults in your home (not spouse, if you're filing jointly)
Form 8332, copies of
your divorce decree, or other documents showing that your ex-spouse is
releasing their right to claim a child to you
Education
Payments
Bills from the
educational institution or anything else that itemizes what you paid or
received loans for versus what was covered by scholarship or other financial
aid
Forms 1098-T and
1098-E, if you received them
Scholarships and
fellowships
Employee
Information
Forms W-2
Self-Employment
Information
Forms 1099-MISC,
Schedules K-1, income records to verify amounts not reported on 1099s.
Records of all
expenses — check registers or credit card statements, and receipts
Business-use asset
information (cost, date placed in service, etc.) for depreciation
Office in home
information, if applicable
Vehicle
Information
Total miles driven
for the year (or beginning/ending odometer readings)
Total business miles
driven for the year (other than commuting)
Amount of parking
and tolls paid
If you want to claim
actual expenses, receipts or totals for gas, oil, car washes, licenses,
personal property tax, lease or interest expense, etc.
Rental
Income
Records of income
and expenses
Rental asset
information (cost, date placed in service, etc.) for depreciation
Retirement
Income
Pension/IRA/annuity
income (1099-R)
Social security/RRB
income (1099-SSA, RRB-1099)
Savings
and Investments
Interest, dividend
income (1099-INT, 1099-OID, 1099-DIV)
Income from sales of
stock or other property (1099-B, 1099-S)
Dates of acquisition
and records of your cost or other basis in property you sold
Other
Income
Unemployment, state
tax refund (1099-G)
Gambling income
(W-2G or records showing income, as well as expense records)
Amount of any
alimony received and ex-spouse's name
Health care
reimbursements (1099-SA or 1099-LTC)
Jury duty records
Hobby income and
expenses
Prizes and awards
Other 1099
Itemizing
Deductions
Forms 1098 or other
mortgage statements
Amount of
state/local income tax paid (other than wage withholding), or amount of state
and local sales tax paid
Real estate and
personal property tax records
Invoice showing
amount of vehicle sales tax paid
HUD statement
showing closing date of home purchase
Cash amounts donated
to houses of worship, schools, other charitable organizations
Records of non-cash
charitable donations
Amounts paid for
healthcare insurance and to doctors, dentists, hospitals
Amounts of miles
driven for charitable or medical purposes
Expenses related to
your investments
Amount paid for
preparation of your 2010 tax return
Employment-related
expenses (dues, publications, tools, uniform cost and cleaning, travel)
Job-hunting expenses
IRA
Information
Amount contributed
for 2011 (and 2012, if applicable)
Traditional IRA
basis
Value of IRAs on
Dec. 31, 2011
If you
were affected by a federally declared disaster
City/county you
lived/worked/had property in
Records to support
property losses (appraisal, clean up costs, etc.)
Records of
rebuilding/repair costs
Insurance
reimbursements/claims to be paid
FEMA assistance
information
Check
FEMA site
to see if my county qualifies for individual assistance
http://www.hrblock.com/offices/tax-preparation-checklist.html
Stacy Neill |Marketing Director
The Hagerman Group was excited to participate in the Indiana Subcontractors Association (ISA) "Construction Networking Event of the Year" yesterday afternoon. This event provides unique opportunities for meaningful networking within the construction community, attracting people from every corner of the State. The trade show featured prominent and key leaders from Owner, GC/CM/Developer, and Architectural/Design Professional companies. 
