Tips for Tax Procrastinators: Use a checklist

When you're getting your tax documents ready, it's helpful to follow a checklist to make sure you've got everything you need. There are hundreds of tax forms and thousands of tax situation, so this checklist doesn't cover them all. But it's a great basic list to follow when you're getting together a simple tax return:

  • Personal information for all people being included on the tax return, including social security numbers
  • W-2s for wages
  • 1099s for small business or subcontractor income
  • 1099s for interest or dividends received
  • Information on last year's state tax refund
  • Information on sales of stocks
  • Retirement account contributions
  • Education costs for college or graduate school
  • Medical expenses, including health insurance paid
  • Items related to your home: mortgage interest, property taxes
  • Charitable contributions
  • Child care expense details (provider, tax i.d. number, total paid)
  • State or federal estimated taxes paid last year
  • Small Business - Information on your income and expenses if you will be filing Schedule C
  • Rental Properties - Information on your income and expenses if you will be filing Schedule E
If you're using a professional tax preparer, they can provide you with a "tax organizer" which is a long questionnaire that will help you gather all the documents you'll need.

Read more Tips for Tax Procrastinators

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

Sending Kids to College

TurboTax can help you take advantage of tax breaks to ease the financial burden of sending kids to college, including tax credits, tuition deductions, tax-free savings and more.

Read More

Brought to you by TurboTax.com

Summer Tax Tips

Smart tax planning happens all year round. Here are four things you can do this summer to improve your standing when tax time rolls around again.

Read More

Brought to you by TurboTax.com

Federal Tax Credit for Solar Energy

To encourage Americans to use solar power, the EPA and the Department of Energy offer tax credits for solar-powered systems.

Read More

Brought to you by TurboTax.com

Bigger, Better College Tax Credit

The American Opportunity tax credit, which replaced the Hope Scholarship credit in 2009, covers more years of college and offers bigger, better benefits to more taxpaying students or their families. Here's how the American Opportunity tax credit and Lifetime Learning credit, another helpful education tax credit, can help offset the rising cost of attending college.

Read More

Brought to you by TurboTax.com
Read Full Story
Your resource on tax filing
Tax season is here! Check out the Tax Center on AOL Finance for all the tips and tools you need to maximize your return.