Following is a list of the more common items you should bring if you have them.
– Wage statements (Form W-2)
– Pension, or retirement income (Forms 1099-R)
– Dependents’ Social Security numbers and dates of birth
– Last year’s tax return
– Information on education expenses
– Information on the sales of stocks and/or bonds
– Self-employed business income and expenses
– Lottery and/or gambling winnings and losses
– State refund amount
– Social Security and/or unemployment income
– Income and expenses from rentals
– Record of purchase or sale of real estate
– Medical and dental expenses
– Real estate and personal property taxes
– Estimated taxes or foreign taxes paid
– Cash and non-cash charitable donations
– Mortgage or home equity loan interest paid (Form 1098)
– Unreimbursed employment-related expenses
– Job-related educational expenses
– Child care expenses and provider information And any other items that you think may be necessary for your taxes. 

The cost of a personal computer is generally a personal expense that is not deductible. However, if the school bills everyone, as a condition of attendance or enrollment, for proprietary computer devices and/or software available no where else, then this may qualify as an expense towards either the Lifetime Learning Credit or Hope Credit. For more information, refer to Publication 970, Tax Benefits for Education, Chapters 2 and 3.

You should keep your records and tax returns for at least 3 years from the date the return was filed or the date the return was required to be filed, whichever is later. It is recommended that you keep these records longer if possible.

First, is your contribution cash or non-cash?

• If you make a cash donation, you must have a bank record or written communication from the charity showing the name of the charity and the amount of the donation. A bank record can be the cancelled check or a statement from a bank or credit union—so long as it lists the charity’s name, the date, and the amount of the contribution. Personal records such as bank registers, diaries and notes are no longer considered acceptable proof of contributions.
• Any used items (such as clothing, linens, appliances, etc.) must be in good condition and may only be deducted at the price you could reasonably ask for the item in used condition. For contributions worth $250 or more, you must have a written receipt or letter from the organization. For contributions worth $500 or more, you must file Form 8283 (Noncash Charitable Contributions) and attach it to your Form 1040.

All contributions must be made to qualified charitable organizations.

Usually if your income including social security benefits is less than $25,000 if single or $32,000 if married, your benefits are not taxable. If your income is higher than those limits, there are formulas to determine what percentage of your social security is taxable. Currently up to 85% of your social security may be taxable.

If you can afford to pay the amount you owe, it should be paid. But many times that is not the case. If you cannot afford to pay, you have several options. Ignoring the IRS should not be one of them!

• The first option is to enter into an installment agreement with the IRS. To do this you need to fill out Form 9465, Installment Agreement Request. This form is fairly easy to complete, but we strongly recommend that if you owe a substantial amount of money you work with us to secure your agreement.
  • The second option, which is much harder to get approved, is an offer in compromise. The IRS will be reluctant to do this if they feel you have the resources to eventually pay. You should not attempt an offer in compromise without professional help you can trust. The IRS has also issued a consumer alert, advising taxpayers to beware of promoters’ claims that tax debts can be settled for “pennies on the dollar” through the Offer in Compromise Program.