Tax Prep: 8 Things Your CPA Will Want to Know

It’s here again — tax time! Start gathering up your documents and book your appointment for tax preparation now, so you can beat the rush. There are a few things that your CPA will need to know in order to properly prepare your tax return.
  • Marital status – Are you married, single, head of household? If you’re married, will you file together or separately? Your CPA will need to know this status to complete your taxes. Your CPA can assist you in the married filing jointly or separately issue.  If you’re not sure about your filing status, you can check with the IRS or ask your CPA to help you figure it out.
  • Personal property tax – Taxes that you paid on your personal property, like cars, boats, or RVs, could be tax deductible. You’ll want to have this figure to show your CPA when tax time rolls around.  Taxes for real property (real estate) are deductible.
  • Medical expenses – If you or your spouse is 65 or older, if you have medical expenses that are greater than 10 percent or 7.5 percent of your adjusted gross income, you may be able to deduct them. Your CPA will need the total of your expenses, including medical mileage, and you will want to keep your receipts on hand just in case the IRS needs to see them in the future. Check out the IRS website for more details.
  • Children or dependent information– If you plan to claim children or other dependents on your taxes, your CPA will need to know their names, dates of birth and their social security numbers. If you paid for childcare, your CPA will need to have your daycare provider’s information, including their EIN or social security number, address and the amount you paid.
  • Mortgage interest statement and real estate taxes – If you own your home, you should receive a form 1098 from your lender. Your CPA will need to know how much you spent on mortgage interest and real estate taxes and, depending on your income level, mortgage insurance.
  • Business tax returns – If you own or participate in a business, you may have a K1 from that business. Your CPA will need this form to complete your personal tax return.
  • Home business expenses – If you run a small business, keep track of your expenses that you incur throughout the year, like money spent for office furniture, office supplies, computers and equipment, mailings, etc. Track your mileage in a log if you use your vehicle for business, as you may be able to write off that mileage as a business expense. If you have a home office, your CPA will also need to know about that, as it may be a deduction.
  • W-2s and 1099s – Your CPA will need all of your income forms for the year. If you are an employee, you will likely receive a form W-2 that states your income. If you’ve had several jobs, you may have more than one W-2. If you work as an independent contractor, your income might be disclosed on a form 1099. If you withdrew money from a retirement account, you might have a form 1099-R. It’s important to have all of your forms when your accountant does your taxes, so that you don’t forget to claim income.
The more information you provide, the more likely your tax preparer is to find additional deductions.
If all this sounds confusing, contact Myerson & Myerson, CPA’s for a free phone consultation. We want you to be prepared, come tax time.
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All Things Writing blogs for Myerson and Myerson, CPA’s. Contact us for more information on our blogging, social media and other services.
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Katherine Gotthardt, CEO

Katherine Gotthardt, M.Ed., writing concentration, has been writing, editing and teaching for more than twenty years. For the past ten years, she has focused on content development and content marketing for small to mid-size businesses, writing and disseminating material that increases client visibility while supporting their brand. Besides being published in dozens of journals, Katherine has authored five books: Poems from the Battlefield, Furbily-Furld Takes on the World, Approaching Felonias Park, Weaker Than Water and Bury Me Under a Lilac. Learn more about her creative life at