What information can I give my tax preparer to reduce my taxes this year??

Question

It is nearing the tax season and I have to prepare information for my tax guy. What kind of info may he need to get me some good tax breaks??

Answer 1

Your filing status, your age, your spouse's age, disabled or blind, your dependents and their ages, un-reimbursed expenses related to your wages as employee, your business expenses as a sole proprietor, your home office expenses, your mortgage payments, your educations expenses, education loan interest expenses, your medical and dental expenses, your casualty and theft loss, bad debt, your winnings/gambling losses up to winning income, your investments in Trad IRA or Roth IRA and 401K, alimony payments, state taxes, property taxes and other taxes paid, contributions to tax exempt organizations...

Answer 2

If your tax guy is worth anything he'll run you through a battery of questions to figure out your most favorable tax position. If he doesn't, find a new tax guy.

Answer 3

Here's a good basic questionnaire you can use as a guide. If you have anything to donate (clothes, etc.) this would be the time to do it & get a receipt.
http://brookwoodtax.com/tax_services/Client%20Tax%20Data%20Sheet%202005.doc

Additionally if you are self employed:
http://brookwoodtax.com/tax_services/Business%20Tax%20Data%20Sheet%202005.doc

Additionally if you have a rental property:
http://brookwoodtax.com/tax_services/Rental%20Tax%20Data%20Sheet%202005.doc

P.S. Not promoting bookwoodtax, just liked their questionnaires.