Category: Individual and Business Tax Consulting
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 a list of very important questions. When you answer these questions, it helps us focus on key tax issues. (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!
Our firm provides the information in this website post for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Articles posted on our website are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.