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Welcome to another tax filing season with Accountability Services, PLLC. By now you should have received your client portal link and engagement letter for this year confirming your spot in our workflow.
Next, you will prepare to upload your tax information and give us the green light to start work. But first, we want to make sure that you are “Tax Ready.”
What is “Tax Ready” and why do you care?
Being Tax Ready ensures you have given us everything we need to get in line in our tax preparation queue!
Here’s what it means to be “Tax Ready”:
- Your Engagement Letter has been signed
- If required, your deposit has been made
- Questionnaire has been filled out and submitted
- All your tax documents have been uploaded to your client portal
Tax Documents:
For businesses that work with our Client Advisory Services (CAS) Team this means –
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- Your books are closed for December and no further adjustments are being considered
- List of fixed assets purchased and disposed of during the year, if not clear in QB
- PDF Copies of the W-3 and all W-2’s
- PDF Copy of Form 1096 – Summary of 1099s sent
- The CAS Team will coordinate with the Tax Team to get any financial reports we need to prepare your return
For businesses that maintain their own books this means –
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- Profit and Loss statement in Excel for the year just ended
- Comparative Balance Sheet (Year Ended + Prior Year) in Excel
- General Ledger Report in Excel
- List of fixed assets purchased and disposed of during the year, if not clear in QB
- PDF Copies of the W-3 and all W-2’s
- PDF Copy of Form 1096 – Summary of 1099s sent
- If we have access to your QuickBooks online account, please let us know you have finalized your books for the year and send us your W-3 & W-2’s. We will pull the reports.
For Individuals this means –
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- Legal name, date of birth, and SSN for any new dependents for the year
- If you got married during the year we will need your spouse’s Legal Name, Date of Birth, and SSN.
- Copy of W-2’s
- Form 1099’s from investment advisors & brokers (include ALL PAGES)
- Form K-1 from any businesses you own or are invested in
- Sch C Profit and Loss (if applicable)
- Rental Property Profit and Loss Statement(s) + a list of any additional expenses.
- 1099-SSA if you receive Social Security payments during the year
- 1099-R if you received any pension or retirement benefits during the year (you will receive a 1099-R from EACH ACCOUNT that pays benefits to you during the year)
- Amount of any SEP or IRA contributions made and Form 5498 if available
- HSA tax forms
- Form 1098-Int (if you had any mortgage payments during the year)
- Property Tax Payments made in 2022
- List of Charitable Contributions for the year
- Please list cash and non-cash donations separately
- Please include name of organization
- Please include copies of any donation acknowledgment letters for the year
- Total amount paid to a third party for childcare services for the year, as well as name and address of the person/organization providing the care
- List of any Estimated Tax Payments made to the IRS with copies of payment confirmation if paid online or copies of checks if paid by mail
- Any Tax Notices received from the IRS or any state taxing authorities that you have not already sent us
- If you are not using any accounting software for your Sch C or Rental activities, please let us know if you would like a copy of our Excel workbook to help you summarize and report your activity for the year
By being Tax Ready you are helping us to make the tax return process run smoothly and in a timely manner, with fewer e-mails requesting additional information and/or documents.
Review detailed tax time instructions for:
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