Wednesday, August 31, 2016

How to Help Your Tax Adviser to Help You

Are you hiring someone else to prepare your taxes this year? If so, you’ll be glad to know that, as long as you hire a qualified preparer, this is almost always a smart move. You can help make your preparer’s job a lot easier...and do the same for yourself as well...by making sure to provide all of the necessary documentation to your tax adviser as soon as possible.   

The sooner you do this, the more quickly your tax preparer can get going on your taxes, and thus, the sooner you’ll see a return. Plus, giving everything over to your preparer all at once definitely beats a lot of back and forth trips because you forgot something. Keep reading for a rundown of what you’re most likely to need.

Proper Identification

First things first, your tax adviser is going to need to see and make a copy of an official identification document. For most people, this simply means handing over their driver’s license. If you don’t have one, however, a passport and/or a state-issued identification card will usually do the trick. Be sure to bring along your social security card as well, and you should be all set.

Proof of Expenses

Another thing you’ll want to bring along, especially if you are trying to qualify for some deductions, is proof of any expenses that you have incurred. Being able to prove and deduct these expenses can save you a nice chunk of money, so be sure to bring proof of any of the following types of typically deductible expenses for your tax preparer to look over:

l  Any expenses related to being self-employed
l  Mortgage interest
l  Employee business expenses
l  Charitable contributions
l  Education expenses related to employment
l  Medical expenses that exceed 10% of your adjusted gross income
l  Union payments
l  IRA/Retirement plan contributions

Bank Account Information

Make sure you don’t leave your bank account information at home! You might need it to make a payment or, if you’re lucky, to set up direct deposit for your tax refund. Make sure you know the full bank account number and routing and tracking information.


Your tax preparer may request additional documentation and information from you, so, when possible, touch base with your preparer ahead of time and ask what you should bring to your appointment. This should make things go a lot more smoothly and easily all around.

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