It’s TAX Time, 2010

3/4/2010 1:26:14 PM

This checklist can be your personal guide to compiling and organizing your tax documents. It can save you time and remind you which tax documents you've gathered throughout the year.

How many times have you asked yourself, "Have I got EVERYTHING to do my taxes?" Probably too many times.

While the tax laws may change from year to year, the basic information you need to do your return or take to your tax preparer doesn't change that much from year to year.

What may change is what you can DO with the information.

You will need W-2 forms, 1098 forms to document the interest you pay on your mortgage, receipts for your charitable donations and documentation on any property taxes you pay. Make sure you are aware of both federal and Florida state tax regulations.

If you have a lot of investments, you'll want trade information so you or your tax preparer can calculate taxes due on capital gains and dividends.

Here's a reference of all the data you might need and who should have it or keep track of it. And start organizing the collection and organizing of all this material.

You will need:

  1. Personal Data
  2. Employment and Income Data
  3. Homeowner/Renter Data
  4. Financial Assets
  5. Financial Liabilities
  6. Automobiles
  7. Deductible Expenses
  8. Self-employment Data
  9. Deduction Documents
  10. Casualty of Theft losses

Back to Article List...