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Lenore Solis & Associates
Tax Preparation

WHAT TO BRING TO YOUR TAX PREPARATION APPOINTMENT:

MAKE SURE YOU KNOW THE NAME, DATE OF BIRTH & SOCIAL SECURITY NUMBER FOR EACH PERSON LISTED ON YOUR TAX RETURN. THE INFORMATION MUST MATCH THE SOCIAL SECURITY ADMINISTRATION RECORDS OR THE E-FILED RETURN WILL BE REJECTED & YOUR REFUND WILL BE DELAYED.


WAGE & EARNINGS INFORMATION: 

If you work bring your W-2 forms, 1099-Misc forms, etc. - you are required to report active income (you materially participated in earning the $) and passive income like interest you earn on money in a savings account or dividends.

If you are retired you must bring your Social Security Benefit Statement form SSA-1099, 1099-R, etc.

 

These are the types of forms that you will receive in January & February, you should save these forms and bring them to your tax preparation appointment: 


Form 1098 Mortgage Interest Statement, Form 1099-DIV Dividend Income, Form 1099-INT Interest Income, Form 1099-R Retirement Income, IRA Form 5498, Form 1098-T Student Tuition, Form 1098-E Student Loan Interest, forms for early distribution from an IRA, 401K, Pension, Profit Sharing, etc.




If you have rental income and will prepare a Schedule E you must bring the income and expense information for each rental property.

If you will prepare a Schedule A you  must bring information regarding your property taxes, medical expenses, health insurance premiums you have paid, employee business expenses, union dues, tax preparation fee paid the prior year, information for the charitable both monetary and donated items, points paid on a mortgage loan, new car sales tax, and vehicle license fees paid to the DMV. 

AUTOMOBILE EXPENSES: It is very important to maintain a daily record of your Business Mileage.  You must know the total miles driven for the year and the total business miles driven. You can deduct the business miles driven or the actual vehicle expenses whichever is to your benefit.  You must have written evidence to support this deduction.


BUSINESS EXPENSES: You should review your bank and credit card statements together with all of the receipts that you have saved.  Categorize and total everything.  Bring the category totals to your appointment. 

FORM 2441 - DEPENDENT & CHILD CARE EXPENSES: If you pay a person or facility to care for your children all day or before and after school you need to bring the complete name of the person or facility, address, phone number and social security number or tax identification number.


From IRS.gov:

Five Important Facts about Dependents and Exemptions
 

TAX TIP 2010-04

When you prepare to file your tax return, there are two things that will factor into your tax situation: dependents and exemptions. Here are five important facts the IRS wants you to know about dependents and exemptions before you file your 2009 tax return.

  1. If someone else claims you as a dependent, you may still be required to file your own tax return. Whether or not you must file a return depends on several factors, including the amount of your unearned, earned or gross income, your marital status, any special taxes you owe and, any advance Earned Income Tax Credit payments you received.

  2. Exemptions reduce your taxable income. There are two types of exemptions: personal exemptions and exemptions for dependents. For each exemption you can deduct $3,650 on your 2009 tax return. Exemption amounts are reduced for taxpayers whose adjusted gross income is above certain levels, depending on your filing status.

  3. If you are a dependent, you may not claim an exemption. If someone else – such as your parent – claims you as a dependent, you may not claim your personal exemption on your own tax return.

  4. Your spouse is never considered your dependent. On a joint return, you may claim one exemption for yourself and one for your spouse. If you’re filing a separate return, you may claim the exemption for your spouse only if they had no gross income, are not filing a joint return, and were not the dependent of another taxpayer.

  5. Some people cannot be claimed as your dependent. Generally, you may not claim a married person as a dependent if they file a joint return with their spouse. Also, to claim someone as a dependent, that person must be a U.S. citizen, U.S. resident alien, U.S. national or resident of Canada or Mexico for some part of the year. There is an exception to this rule for certain adopted children. See IRS Publication 501, Exemptions, Standard Deduction, and Filing Information for additional tests to determine who can be claimed as a dependent.

For more information on exemptions, dependents and whether or not you or your dependent needs to file a tax return, see IRS Publication 501. The publication is available on IRS.gov or can be ordered by calling 800-TAX-FORM (800-829-3676). 


WHO NEEDS TO FILE A TAX RETURN - this table is from the IRS.gov website:

Table 1-1.2009 Filing Requirements for Most Taxpayers

IF your filing status is... AND at the end of 2009 you 
were...*		 THEN file a return if 
your gross income 
was at least...**
single under 65 $9,350  
  65 or older $10,750  
married filing jointly*** under 65 (both spouses) $18,700  
  65 or older (one spouse) $19,800  
  65 or older (both spouses) $20,900  
married filing separately any age $3,650  
head of household under 65 $12,000  
  65 or older $13,400  
qualifying widow(er) with under 65 $15,050  
dependent child 65 or older $16,150  
* If you were born on January 1, 1945, you are considered to be age 65 at the end of 2009.
** Gross income means all income you received in the form of money, goods, property, and services that is not exempt from tax, including any income from sources outside the United States or from the sale of your main home (even if you may exclude part or all of it). Do not include any social security benefits unless (a) you are married filing a separate return and you lived with your spouse at any time during 2009 or (b) one-half of your social security benefits plus your other gross income and any tax- exempt interest is more than $25,000 ($32,000 if married filing jointly). If (a) or (b) applies, see the instructions for Form 1040 or 1040A or Publication 915 to figure the taxable part of social security benefits you must include in gross income.
*** If you did not live with your spouse at the end of 2009 (or on the date your spouse died) and your gross income was at least $3,650, you must file a return regardless of your age.


    • E-FILE & DIRECT DEPOSIT OR PAYMENT FROM YOUR BANK ACCOUNT:

    BRING YOUR CORRECT BANK ROUTING NUMBER AND ACCOUNT NUMBER FOR YOUR SAVINGS OR CHECKING ACCOUNT. ONCE YOUR TAXES ARE ELECTRONICALLY FILED I CAN NOT CORRECT THE ROUTING AND ACCOUNT INFORMATION.

    DISCLAIMER:  The information contained herein is deemed accurate however, you should always consult a professional or the Internal Revenue Service to insure the information is current and applicable to your tax situation.  


Lenore Solis & Associates
3315 Glendale Boulevard
POB 39534, Los Angeles, CA 90039
(323) 669-0892
(818) 396-6840
LenoreSolis@gmail.com

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