Tax Preparation and Tax Planning in Jefferson City, MO

Adjustments to Your Income:

1. Form 1098-E for student loan interest paid (or loan statements for student loans)
2. For 1098-T for tuition paid (or receipt/canceled checks for tuition paid for post-high school)
3. For teachers: Canceled checks or receipts for expenses paid for classroom supplies
4. Records of IRA contribution made during the year. Receipts for any qualifying energy-efficient home improvements (solar, windows, etc.)
5. Records of Medical Savings Account (MSA) contributions
6. Self-employed health insurance payment records
7. Keogh, SEP, SIMPLE, and other self-employed pension plans

Itemized Deductions:

1. Medical expenses including Co-pays, prescriptions, dentists, eye doctors, hospital, medical mileage
2. Health insurance if paid out of pocket
3. Long term care insurance premiums
4. Form 1098, mortgage interest paid
5. Real estate taxes, if not included on Form 1098
6. Personal property taxes
7. Form 1098-T, education expenses
8. State and local income taxes paid in addition to amounts withheld on pay checks
9. Investment interest expenses including margin account interest and interest on investment property
10. Total cash contributions to charitable organizations: cash amounts, official charity receipts, canceled checks, value of donated property, miles driven and out of pockets expenses
11. Total volunteer miles driven in 2020
12. Details of casualty theft or loss suffered in a federal disaster: amount of damage, insurance reimbursements
13. For self-employment - record of home business expenses, home size/office size, home expenses

Business, Rental, and Farm Income:

1. A copy of QuickBooks, if you use this software to keep your business bookkeeping
2. All income/expenses if you use some other method of bookkeeping (Balance Sheet, Income Statement and General Ledger or Excel)
3. Copies of 2020 business bank statements if you have not reconciled your checking account
4. Any 1099-MISC and 1099-K received for your business
5. Records of all major purchases of $500 or greater for machinery, equipment, and furniture - Include date of purchase and item description
6. Inventory records (beginning and ending inventory) and purchase
7. Mileage logs for last year, if you are self-employed - Include both total business and total miles you drove

Credits:

1. Dependent care expenses including amount paid, provider’s-name, address, telephone, and tax ID number
2. Adoption expenses: SSN of child, records of legal, medical and transportation cost if you adopted or finalized an adoption last year
3. Residential energy credits including costs for solar panels improvements like windows and doors
4. If you received a First Time Homebuyers Credit in prior years, records of the original purchase and any correspondence from the IRS regarding the credit
5. If you qualify for the Earned Income Credit, a copy of your children's report card (other documents are acceptable also) as part of the documentation requirements

Other Information:

1. Estimated tax payments during the year (self-employed)
2. Prior-year refund applied to current year and/or any amount paid with an extension to file
3. Foreign bank account information: location, name of bank, account number, peak value of account during the year