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Common Tax Information Needed

Here is a list of common tax information that we need to prepare your tax return. The following information can help you get organized. Usually we can reduce your tax (and tax preparation cost) with complete information. Why pay more tax than legally required? Some of these items include the following:

Information on stock sold:  Try printing this Stocks Sold or Disposed Form  (pdf file) Adobe Acrobat Logo to help you list the necessary information. Although you should get a 1099-B from your broker reporting the sale, sometimes this does not provide all the information required to calculate your gain or loss.

Property tax on vehicles:  This is an itemized deduction on Schedule A just like property tax on your home or other property. This is the larger amount paid to the town or city during the registration process.

Information on business assets:  Use these worksheets to list information about your buildings, equipment and vehicles. Although business equipment can usually be expensed in the first year, we still need this information for your tax return. Click on the following worksheets you can print to help gather the necessary information:

Assets Purchased in the Current Year  (pdf file) Adobe Acrobat Logo
Assets Contributed to the Business    (pdf file) Adobe Acrobat Logo
Assets Sold or Disposed    (pdf file) Adobe Acrobat Logo

Examples of typical business expenses: Here is a list of common expenses that most businesses need to track. This expense category list  (pdf file) Adobe Acrobat Logowill help you get started.

Keeping track of auto expenses: This is one of the most challenging bookkeeping tasks for a small business. Many small businesses use autos for both business and personal. Try our Business Use of Auto page for what you need to know.

For new clients, we need information on prior year's tax return(s): Please bring your prior year's return(s) so that we can carry-over any tax items to this year. We also can check your prior year's return(s) for any errors or omissions.

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