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Horizon Accountants  

Horizon Accountants
113 South Timber Way
Broadway, VA 22815

540-896-3330

Certified Public Accountant

General Check List for 1040 Tax Preparation Clients

These are the items requested for your tax appointment:

  • Copy of prior year return if you are a new client for Horizon.
  • Date of birth for taxpayer, spouse and dependents.
  • W-2s and 1099s if any.
  • Interest income or dividends.
  • Sale of stocks, include cost of any investments sold with date.
  • Schedule C businesses with income and expenses (label asset purchases with date purchased).
  • Farm activity, if any (include sale of cattle or other animals).
  • Rental property settlement sheets for newly acquired property.
  • Rental income and expenses for each property.
  • Did you refinance your home in current year?
  • Any IRA contributions?  You have up to 4/15 to make one.
  • Social security income if any
  • Did you make any estimated tax payments to IRS or state?
  • What about health insurance? How is this paid for your family? What was paid in current year?
  • Who is living in your home? Dependents with date of birth .
  • Did you pay educational expenses for yourself or dependent? How much?
  • Did you buy a home in current year?

Itemized Deductions:

  • Real estate and personal property tax
  • Medical out of pocket (prescriptions, health insurance premiums, long term care)
  • Medical mileage
  • Contributions, include noncash donations as well
  • Charitable mileage
  • Mortgage interest and (mortgage insurance paid)
  • Home equity interest, if any
  • Any unreimbursed employee expenses

Record Retention Schedule:

Copies of tax returns forever   Paid vendor invoices 3 years
Tax/legal correspondence forever   Employee payroll records  3 years
Contracts and leases forever   Depreciation schedules  forever 
Real estate records forever   Property tax returns forever 
Bank statements 6 years   Copies of paid loans forever 
Accounting records/books 6 years   Canceled checks 3 years
Employee expense records 3 years      

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