I have been asked by many of my individual clients over the years is there really a benefit in using the Tax Organizer that you send to us every year?
The answer is a resounding “YES”!
You will find it helps you gather the proper documents for the current year for interest, dividends, pensions, annuities, IRA’s, Social Security, partnerships, trusts, and S-Corporations. You only need to attach copies of W-2’s, 1099’s, 1099R’s, and K-1’s and not record this information in the organizer.
The tax organizer will provide prior year amounts for your rental properties, small business, farms, and itemized deductions, and you will have to manually provide the current year amounts for this group. You will also provide Form 1098, for mortgage interest and other supporting documents for these deductions.
At the beginning of the Organizer, there is one whole page of very important questions. When you answer these questions, it helps us focus on key tax areas. (Hint – most answers are “no”).
Another very important page has your personal information. Here you have the opportunity to notify us of changes to your address, phone, email or dependents.
On one of the pages you will be asked to confirm if you have paid any federal and state estimated tax payments. On this page, we also give you the opportunity to tell us about upcoming tax year changes for income and expenses.
The Organizer will then help us standardize our work throughout the entire preparation and review process. This saves you money!