Documents

Following is a list of documents commonly needed for the preparation of income tax return.  Most of the documents listed below are not required.  However, when such documents apply to you, they should be brought with you. 

RTP Accounting is not a Federal, state or private auditing firm.  As such, we do not require physical documents to prepare your tax return.  However, we require that you aver, in writing, that you understand your returns have been prepared based on information and/or direction provided by you (see “Acknowledgement Statement”)  Moreover, we will not prepare a return when the date/documents provided are clearly in question.

That said, the following is a list of documents commonly received and/or created by most Clients.  Please ignore the documents that do not apply to you.  It is important to remember that while RTP Accounting will review, tally and analyze bundles of documents, such activities are done on a time, rather than Form, bases. 

There are, generally, four types of documents:

1. prior years’ return and supporting schedules,
2. income documents,
3. deduction and expense documents, and
4. other. 

In general, your should be prepared to bring the following:

• 2008 Returns and supporting schedules
  
  
• Income documents, including:
  • W-2s
  • 1099-Misc
  • 1099-R and similar “retirement income” statements, including
    • 1099-R
    • CSA-1099-R
    • CSF-1099-R
    • RRB-1099-R
  • 1099 (other, e.g. 1099-G … Gambling winnings)
  • 1098-T, Tuition and other expenses
  • Investment Income … generally Form 1099-Int and Form K-1 (partnership income), Rental and Royalty Income
  • Business Income, e.g.
    • Income from proprietorship (usually reported of Form 1040, Schedule C)
    • Form K-1 (partnership)
    • Form 1120S (S-Corp annual return)
    • Form 1120 (C-Corp return … for non-publically traded corporations)
  • Capital Gains or Losses
  • Trust and other income
  • Refund from prior year’s (2008) state income tax return if 2008 Federal tax deductions were itemized
    “Stimulus” or other such Federal payments

Deduction and Expense Documents

• Medical & Dental Expenses
• Mortgage Interest Paid
• Taxes Paid
  • Real Estate Taxes – primary and secondary residence
  • Real Estate Taxes – investment property
  • Vehicles Taxes including registration
  • Personal Property Taxes
  • Sales Taxes (Note:  Sales taxes may be estimated according to IRS standards by state.  Unless you had an unusually high sales tax, documentation for sales taxes are usually unnecessary.)
• Charitable Donations (Please see “Donations” on this web site)
• Casualty and Theft Losses
  • Date and nature of loss
  • Original Cost (e.g. receipt)
• Miscellaneous Expenses
  • Unreimbursed Employment Expenses, e.g. Union Dues, Parking fees for travel
  • Tax Preparation Fees (prior year)
  • Safe Deposit Box
  • Et cetera
• Depreciation and Amortization … Note:  this requires prior years’ returns, if applicable

Other

• Active/current notices from a taxing authority
• Foreign Investments or Investment Bank Accounts
• Tax sheltered investments
• Special credits, allowances, etc., authorized by law
• Et cetera

Please note:  RTP Accounting will endeavor to assist in the preparation of your tax return(s).  However, some aspects of some returns may be beyond our regular expertise.  In such cases, we will discuss that issues and determine whether it is appropriate for RTP Accounting to go forward.  The determination will include: a) experience, b) access to appropriate regulations, court findings, IRS regulations, etc., and c) agreement among the parties.