*** SCROLL DOWN ON THIS PAGE TO SEE THE DOCUMENTS, & TAX DEDUCTION WORKSHEETS BY PROFESSION *** IF YOUR PROFESSION ISN'T LISTED, USE THE HTP GENERAL SOLE PROPRIETORSHIP FORM ****
*** PLEASE READ OUR ONLINE/CONTACTLESS FILING PROCESS ***
*** DO NOT BOOK AN APPOINTMENT OR REQUEST A PORTAL UNLESS YOU HAVE ALL DOCUMENTS!!! *** WE WORK BY APPOINTMENT ONLY, SO IF AT YOUR APPOINTMENT, YOU DON'T HAVE ALL OF YOUR DOCUMENTS, YOU MOVE TO THE BACK OF THE LINE. IT IS VERY DIFFICULT TO REFIT YOU BACK INTO THE SCHEDULE (IT LITERALLY CAN TAKE WEEKS), SO PLEASE MAKE SURE TO HAVE YOUR ALL OF YOUR DOCUMENTS.
*** IF YOU DON’T HAVE YOUR STIMULUS LETTER 6475 stimulus/economic impact payment letter for those that earned less than $85,000 single, and $170,000 married (click here to see a sample), OR YOUR CHILD TAX CREDIT LETTER 6419 for those with children under the age of 18 (click here to see a sample. YOU WILL NEED TO GET YOUR TRANSCRIPTS FROM THE IRS. Please create or view your online account and get your 2021 ACCOUNT TRANSCRIPTS.
Thank you for giving Howard Tax Prep LLC the opportunity to earn your business. Tax deduction worksheets by profession are listed at the bottom of the page, and are available for download. The documents are fillable, so you should be able to complete them, save them to your pc, and upload them to your Howard Tax Prep LLC portal (or bring them into one of our locations at your designated appointment time. Please note, if a section doesn’t apply to you, please disregard it; for example, if you don’t make charitable donations, and you aren’t self-employed, you will not need to send any of the documents listed under that section. I am aware that this list can be exhaustive and overwhelming, but it is necessary so that we can find every single tax deduction, and recommend some tax savings ideas. WE WILL NOT BEGIN WORK UNTIL WE HAVE EVERY SINGLE DOCUMENT.
Additionally, please audit your records and all of your files. If you receive documents that will have an impact on your return after it has been filed (such as another W2, a 1098 from school, a 1099 from side work, etc.) there will be A FEE TO COMPLETE ADDITIONAL FORMS, AND/OR AMENDMENTS TO THE RETURN. For example, you forgot that you had healthcare, and the IRS sends you a letter requesting form 8962 you would only pay $65 for the completion of form 8962; However, if you forget a W2, 1098, or a 1099, the entire return has to be amended (redone & corrected with the correct income), and the cost for an amendment is $275!
*** IF YOU REFINANCED YOUR HOME, WE NEED YOUR CLOSING DISCLOSURE , or SETTLEMENT STATEMENT click the links on the orange words to see what these documents look like.
*** IF YOU SOLD A HOME THAT YOU INHERITED, WE NEED THE APPRAISAL REPORT ON THE DAY THE PERSON PASSED AWAY, AND WE NEED THE 1099-S (click the links on the orange words to see what this document looks like) THAT THE TITLE COMPANY SUBMITTED TO THE IRS REPORTING THE SALE.
*** LIST OF ITEMS EVERY TAX PAYER NEEDS TO HAVE ***
- *** DO NOT BOOK AN APPOINTMENT OR REQUEST A PORTAL UNLESS YOU HAVE ALL DOCUMENTS!!! **
- IF THE IRS PROVIDED YOU WITH AN IP PIN TO USE WHEN FILING YOUR TAX RETURN, WE NEED THIS PIN. IF YOU DO NOT PROVIDE THE IP PIN, THERE WILL BE A FEE OF $19.95 FOR OUR OFFICE TO RESUBMIT THE RETURN TO THE IRS.
- LAST YEARS (OR THE LAST YEAR THAT YOU FILED) TAX RETURN. IF YOU ARE A RETURNING CLIENT, WE DON'T NEED THIS. PREVIOUS YEAR'S TAX RETURNS ARE NEEDED SO THAT WE CAN HAVE YOUR ADJUSTED GROSS INCOME. IF YOU DO NOT HAVE YOUR TAX RETURN, WE CAN ORDER A COPY FROM THE IRS AT A COST OF $85. If you don't want to pay the $85, you can order your ACCOUNT TRANSCRIPTS & TAX RETURN RETURN TRANSCRIPTS FROM THE IRS HERE.
- VALID (MEANS NOT EXPIRED) GOVERNMENT ISSUED ID WITH A PHOTO (Driver’s license, State ID, Passport, etc.).
- COPY OF SOCIAL SECURITY CARD FOR ALL DEPENDENTS UNDER 18. ADULTS, & ELDERLY PARENTS THAT ARE DEPENDENTS MUST HAVE A VALID ID.
- If you are a new client CLAIMING CHILDREN, we will need BIRTH CERTIFICATES, Social security numbers & birth dates for your minor dependents. If the child is not your birth child, please call our office to discuss.
- ANY NOTICES & CORRESPONDENCE THAT YOU RECEIVED FROM THE IRS, STATE, COUNTY, OR OTHER TAXING AUTHORITIES.
- Existing clients, if you had a new baby, we will need a copy of the social security card & birth certificate.
- *** DO NOT BOOK AN APPOINTMENT OR REQUEST PORTAL ACCESS UNTIL YOU HAVE ALL DOCUMENTS!!! **
*** PLEASE READ THIS LIST *** INDIVIDUALS PLEASE PROVIDE ALL SOURCES OF INCOME THAT YOU RECEIVED.
- STOCK TRADES! If you traded on Robinhood, Acorns, etc. you should have a tax statement on the app. This statement is a 1099-B.
- 1099-B (sales of stock, bonds, or other investments).
- 1099-DIV (dividends received from investments. Check the app that you trade in, or the online website that you trade on).
- 1099-G Unemployment compensation-Click here to find online.
- 1099-INT (interest income usually from banks & credit unions).
- If you are claiming dependents that have a job, please provide their W2 info.
- W-2 Forms from all employers for you (and your spouse, if filing a joint return). ***PLEASE NOTE, IF YOU FORGET SOMETHING, THERE IS A $275+ FEE TO AMEND A TAX RETURN (add things, or make changes), once you've filed your taxes.
- 1099-MISC rent received, settlements, or prize or award winnings.
- 1099-NEC for non employee compensation.
- 1099-SSA Social Security benefits.
- 1099-R Rollovers of Retirement Plans and IRA Distributions.
- 1099-SA HSA contribution and distribution amounts.
- 1099-K These forms are usually LOCATED IN YOUR ONLINE ACCOUNT if you drove for Uber, Lyft, Doordash, Instacart, or received payments via PAYPAL, Square, CashApp, Etc.).
- 1099-C Forms. Sent if you had any debt(s) cancelled by a lender.
- Business income (See notes below).
- 1099-MSA for distributions from medical savings accounts
- 1099-A (foreclosure of a home)
- Investment income information (including: interest income, dividend income, proceeds from the sale of bonds or stocks, and income from foreign investments).
- Income from local and state tax refunds from the prior year.
- Rental property income please complete the Rental property worksheet
- Miscellaneous income (including: jury duty, lottery and gambling winnings)
- 1098 Mortgage interest statement. Sent to you by the mortgage company. Look on their website, or call them.
*** NEW HOMEOWNERS ONLY ***
- Please include your CLOSING DISCLOSURE (click the link to see what one looks like) or SETTLEMENT STATEMENT (click the link to see what one looks like) These documents can be found amongst the documents that you signed when you purchased your home.
- 1098 Mortgage interest statement. Sent to you by the mortgage Company. Look on their website, or call them.
*** CURRENT HOMEOWNERS ONLY ***
*** LANDLORDS ONLY ***
- If you have SECTION 8 tenants, you need to get the form from the department of housing (state, or city). SOMETIMES THE HOUSING AUTHORITIES DON'T SEND THE 1099-MISC FORM, WHICH MEANS, YOU MAY HAVE TO CALL & ASK FOR THE FORM TO BE SENT TO YOU. Please note, we need the ACTUAL FORM, not just the amounts received.
- HTP Rental property worksheet completed.
- 1098 Mortgage interest statement. Sent to you by the mortgage Company. Look on their website, or call them.
*** LIST OF ITEMS TAXPAYERS WITH CHILDREN & HOMEOWNERS MAY HAVE ***
- 1098 Mortgage interest statement. Sent to you by the mortgage Company. Look on their website, or call them.
- Daycare Expenses Form. Please provide the name of the provider, address of the provider, the amount paid per child, and the providers EIN, or social security number.
- Summer Camp expenses. Please provide the name of the provider, address of the provider, the amount paid per child, and the providers EIN, or social security number.
- Qualified Medical expense (click the link to see the IRS definition of qualified medical expenses). Medical mileage which includes: drives to hospitals , doctor's appointments, trips to the pharmacy. Don't forget to include hospital parking fees.
- Total amount paid for qualified healthcare expenses; along with itemized receipts (glasses, contact lenses, dental work, prescriptions, etc.).
- Property tax bill. If we have to SEARCH FOR YOUR BILL, THERE WILL BE AN ADDITONAL $10 FEE CHARGED. Illinois Cook County residents can find their property PIN HERE, and us the property PIN to see the TAX BILL HERE.
*** BUSINESS OWNERS ONLY*** (LLC, CORP, S-CORP, PARTNERSHIPS). *** Self-Employment, LLC owners, Corporations, S-Corps, Partnerships, & Nonprofits. Also those that have "SIDE GIG's" DOCUMENTS & INFO REQUIRED ***
- *** DO NOT SEND IN ESTIMATES & GUESSES FOR YOUR EXPENSES! PLEASE SEND IN ACTUAL NUMBERS BY GOING THROUGH YOUR BANK STATEMENTS! ***
- COMPLETED HOWARD TAX PREP LLC EXPENSE SHEET FOR YOUR PROFESSION.
- LAST YEAR'S TAX RETURN! IF YOU DON'T HAVE THIS, WE CAN GET A COPY FOR $85.
- YOU MUST PROVIDE ACCURATE TOTALS (NOT GUESSES) FOR EACH EXPENSE CATEGORY, ON THE HOWARD TAX PREP LLC FORM THAT APPLIES TO YOUR BUSINESS. If you don't want to do the calculations, you can hire us for tax bookkeeping for $95 an hour if we can receive electronic records, or $115 an hour if we have to use paper bank statements (minimum 6 hours). IF YOU DON'T WANT TO PAY FOR TAX BOOKKEEPING, PLEASE USE OUR YOUTUBE VIDEO: BOOKKEEPING WITHOUT QUICKBOOKS.
- BUSINESS BANK ACCOUNT PDF’S (UNLESS WE HANDLE YOUR BOOKKEEPING).
- SALES TAX RETURNS!!! THESE ARE VERY IMPORTANT!
- ZELLE PAYMENTS REPORT FOR THE YEAR (CAN DOWNLOAD FROM CHASE OR YOUR BANKS SITE).
- CASHAPP TRANSACTIONS.
- PAYPAL ANNUAL REPORT.
- SHOPIFY ANNUAL REPORT.
- SQUARE ANNUAL REPORT.
- CASH ONLY BUSINESSES MUST HAVE A RECEIPT BOOK, OR SOME OTHER TANGIBLE PROOF OF INCOME RECEIVED.
- PROFIT AND LOSS, BALANCE SHEET, OR ACCESS TO QUICKBOOKS ACCOUNTING SOFTWARE ACCESS. IF YOU DON'T DO BOOKKEEPING, YOU WON'T HAVE THIS, SO BRING IN YOUR INCOME & EXPENSES.
- If you use QuickBooks, you can grant us access to your QuickBooks file by inviting an accountant, & using the email quickbooks@howardtaxprep.com
- Form 1099-NEC.
- Form 1099-K--(Stripe/PayPal/Square/Shopify etc.).
- 1099-INT or statement. Business checking/savings account interest.
- Schedule K-1 from partnership, or S-Corp.
- Itemized List of Office Equipment (computers, printers, desk, chairs).
- Itemized List of Office Furniture (Desk, Chairs, Couch, etc.).
- List of other Equipment used in business.
- Cost of Each Itemized Office Equipment & Office Furniture Item that cost more than $2,500 along with date placed in service, and % of business usage (for depreciation purposes).
- Interest paid on business credit cards or other loans. Loan payments are not deductible, only the interest on the loan is deductible. ** PLEASE HAVE THE INTEREST SEPERATED OUT FROM THE PAYMENTS.**
- Education expenses (seminars, books, consulting fees, etc.). Purchases should be on bank statement, so no need to write the cost out if you have bank statements.
- Utilities Monthly Cost (Cellphone, light bill, gas bill, internet bill, Water bill, Garbage/Sewage Bill). Purchases should be on bank statement, so we only need 1 or 2 bills to verify the business usage portion.
- Entire Square footage of house/apartment only IF YOU HAVE A HOME OFFICE.
- Square footage of home office & storage space.
- Meals for business purposes (not 1 person meals for lunch). Purchases should be on bank statement, so no need to write the cost out if you have bank statements.
- Required licenses and cost of maintaining license. Purchases should be on bank statement, so no need to write the cost out if you have bank statements.
- Office Supplies purchased (Tape, printer paper, paper towels, soap, etc.). Purchases should be on bank statement, so no need to write the cost out if you have bank statements.
- Mileage log records (business, commuting, medical, and personal). You may need to recreate your mileage records using your booking calendar & mapquest or google directions.
- Vehicle information (make, model, year).
- Cost of vehicle & when purchased.
- Car loan interest (usually included in monthly payments, so you may have to call your lender).
- Cost of vehicle city sticker, plate sticker, and other registrations.
- Parking paid (for classes, visiting clients, picking up rents, etc.).
- Tolls paid.
- Local transportation (If you caught a Metra, bus, taxi, etc. to attend a business meeting, appointment, seminar, class, etc.
- Travel away from home: (Airfare or mileage/actual expense if drove; Hotel; Meals; Tips; Taxi; Internet connection (hotel, Internet café etc. receipts for public transportation, parking, and tolls).
- Commissions paid to subcontractors.
- File Form 1099-MISC and 1096 as necessary.
- Professional fees (Lawyers, accountants, and consultants)
- DO NOT SEND IN ESTIMATES & GUESSES FOR YOUR EXPENSES!
- *** DO NOT BOOK AN APPOINTMENT OR REQUEST A PORTAL UNLESS YOU HAVE ALL DOCUMENTS!!! **
Charitable Contributions.
- Written acknowledgements (statements from organization or cancelled checks) of cash amounts donated to houses of worship, schools, other charitable organizations.
- Charitable mileage (events that you drove to and/or that you volunteered at).
- Records of non-cash charitable donations. (Checks, electronic records, etc.).
Medical Expenses
- Qualified Medical expense mileage (drives to hospital, doctor’s appointments, hospital parking fees, etc.).
- Total amount paid for Qualified healthcare expenses; along with itemized receipts (glasses, contact lenses, dental work, prescriptions, etc.).
- Health Insurance Form 1095-A if you enrolled in an insurance plan through healthcare.gov –CHECK YOUR ONLINE ACCOUNT AS THEY DON’T ALWAYS SEND A STATEMENT. Form 1095-B and/or 1095-C if you had insurance coverage through any other source.
- Marketplace exemption certificate (ECN) if you applied for and received an exemption from the Marketplace.
Educational Expenses
- Forms 1098-T from educational institutions. IF YOU, OR YOUR CHILD DIDN'T RECEIVE A FORM, CALL THE SCHOOL'S FINANCIAL AID DEPARTMENT, OR CHECK YOUR SCHOOL EMAIL.
- Receipts that itemize qualified educational expenses.
- Records of any scholarships or fellowships you received.
- Form 1098-E if you paid student loan interest.
- Amount(s) Paid for Required books for class.
- Cost of pens, paper, folders, etc.**
