We at McCarthy Accounting and Taxes hope your holiday season is filled with joy and the coming year is prosperous too. We wanted to take a moment to thank you for your support throughout this year. Our amazing team of Tresa, Fred, Lois, Dave, and Carol remains intact, and we even welcomed a new member: Courtney Kammueller.
The year is soon coming to an end. As we look forward to the coming tax season, we wanted to offer a checklist guideline of documents you’ll need to set aside in order for us to complete your taxes. We will again offer an organizer to anyone who desires one.
- 1099 (Int / Div / Misc)
- 1099B (documents from Stockbrokers)
- 1099 SSA (Social Security)
- 1095 (A / B / C – Health Insurance)
- Record of Estimated Tax Payments
The IRS has changed the itemizing rules:
The standard deductions for 2019 has gone up to 12,000 for Single and 24,000 for MFJ
If your itemized deductions last year were more than these amounts you may collect/send the following:
- Real Estate Tax amount
- Medical / Dental Expenses
- Medical Insurance
- Charitable Contributions (Monetary or Material)
- 1098 (Mortgage Interest)
If you are claiming children (Dependents), you will need to provide the following of the Dependent’s information:
- Social Security Number
If your Dependent is in college, you will need to provide a copy of their 1098T and a 1099Q (if they are on a Prepaid Plan).
Please inform us if your filing status or any exemptions have changed. In addition, if you have had any other financial transactions (ie: sale of house or stocks) that occurred during the year.
Once you have collected all the necessary paperwork, feel free to drop it by for us to begin a review and complete your return. If you have had significant changes, or would like to make an appointment, please call and we will be happy to schedule a meeting for you with your tax preparer.
We hope everyone has had a healthy and happy year, and look forward to speaking with you soon.
With warm regards,
McCarthy Accounting and Taxes