Income Tax Checklist

There are so many things to remember to get together before you do your taxes. Here is a short checklist so you have the essentials. There are more things you may need than this if you have a great deal of investments or give a lot to charities…but these basics should cover most of us.

• W2’s  obviously, make sure you have one from every job you have worked in the past year
• 1098 forms  these document mortgage interest
• Receipts for Donations   charities and what not, you must have documentation
• Property Tax Documentation
• Trade Information  basic investments

Again…this is a list of basics for beginners. For a full comprehensive list (it get complicated, but some of you may need complicated), I found a great chart in the Tax Section of the MSN website.

Tags: 1098, charities, property tax documentation, receipts for donations, trade information, w2

Tax Calendar…Important Dates You Want to Know

So we all know that we have to have our taxes in the mail to the IRS by April 15th. Did you know there are a great deal of other dates worth noting on your calendar that can help you from making some costly tax mistakes. Get a pen and your day-planners now!

12/31/08: Deduction Deadline
This is your absolute last day to make all those payments that can be deducted from your 2008 return.

1/15/09: Fourth Quarter Estimates Due (an extension can be requested, however, using the 1040ES form)

2/2/09: 1098s, 1099s, and W2’s all should have arrived

2/15/09: New W4’s for continued exemption
Even if you were exempt last year, you still need to fill out a new copy of the W4 form to continue your exemption into 2009.

4/15/09: TAX DAY!
All federal and state taxes due (or extension papers filed)

Mark ‘em down! Don’t cost yourself money in penalties just because you missed a deadline!

Tags: 1/15/09, 1098, 1099, 12/31/08, 2/15/09, 2/2/09, 4/15/09, deduction deadline, fourth quarter estimates, tax calendar, w2, w4