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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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What to bring when you get your taxes done?
I always forget what I need to bring b/c it seems that the list gets longer.
Mortgage Interest statements
W-2's
Interest statements from bank accounts, investments, etc.
I feel like I'm missing something 
ETA: I had DS last year. Is there anything I need to bring for him. He is not in daycare so I can't claim that.
Message edited 1/21/2008 10:30:30 AM.
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Posted 1/21/08 10:29 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: What to bring when you get your taxes done?
It depends, do you itemize?
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| Posted 1/21/08 10:29 AM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: What to bring when you get your taxes done?
It depends, do you itemize?
My husband is a cop so he gets a ton of deductions. But we don't need to show anything...our accountant just usually gives him the deductions automatically.
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| Posted 1/21/08 10:31 AM |
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Michelle
My Little Yankee Fans
Member since 1/06 4018 total posts
Name:
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Re: What to bring when you get your taxes done?
Student Loan Interest
If you sold any stocks during the year you will need to cost basis and the date of purchase.
Charitable Contributions
Medical Expenses
Business Expenses Not Reimbursed By Your Employer
Daycare Expense with the Amount paid for the year and EIN
If you went to College, the amount paid for tuition and the statement from the college.
Real Estate Taxes Paid and the amount you recieved from the star rebate back in the fall. This needs to reduce the amount you can deduct for RE Taxes.
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| Posted 1/21/08 10:32 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: What to bring when you get your taxes done?
Posted by jellybean1420
It depends, do you itemize?
My husband is a cop so he gets a ton of deductions. But we don't need to show anything...our accountant just usually gives him the deductions automatically.
ok, I usually go with a spreadsheet of our itemized deductions including any charity/donation figures. Ours fluctuate each year so i always have different numbers. Our accountant does the dirty work though, I just provide the base.
Did you do any home improvements? Have medical expenses that were not covered?
Message edited 1/21/2008 10:37:14 AM.
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| Posted 1/21/08 10:32 AM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: What to bring when you get your taxes done?
Medical Expenses
How do you claim medical expenses? DH and I very rarely go to the dr. but now that we have DS, can I claim all the co-pay's from delivery and his visits? Does the insurance company send me something showing all the payments I made or do I need to dig through my bills?
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| Posted 1/21/08 10:34 AM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: What to bring when you get your taxes done?
Posted by jellybean1420
Medical Expenses
How do you claim medical expenses? DH and I very rarely go to the dr. but now that we have DS, can I claim all the co-pay's from delivery and his visits? Does the insurance company send me something showing all the payments I made or do I need to dig through my bills?
sometimes you can get a print out from oyur Dr as to all your payments made, as well as perscrption copays, you can ask them for a print out as well. but only a certain amonut will qualify.
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| Posted 1/21/08 10:37 AM |
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TheWhiteRabbit
Thru the rabbit hole!
Member since 7/06 4412 total posts
Name:
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Re: What to bring when you get your taxes done?
Only amounts over 7.5% of your adjusted gross income can be deducted. So if you made $60,000, any medical expenses you paid over $4,500 can be deducted ($60,000 x 7.5%). So IF you had $6,000 in medical expenses, you could deduct $1,500. Most people do not have enough expenses to deduct their medical.
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| Posted 1/21/08 10:43 AM |
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aliwnec10
mom of 3 boys
Member since 4/06 11426 total posts
Name:
Ali
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Re: What to bring when you get your taxes done?
Posted by Blu-ize
Posted by jellybean1420
It depends, do you itemize?
My husband is a cop so he gets a ton of deductions. But we don't need to show anything...our accountant just usually gives him the deductions automatically.
ok, I usually go with a spreadsheet of our itemized deductions including any charity/donation figures. Ours fluctuate each year so i always have different numbers. Our accountant does the dirty work though, I just provide the base.
Did you do any home improvements? Have medical expenses that were not covered?
what kind of home improvements qualify?
Message edited 1/21/2008 11:21:01 AM.
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| Posted 1/21/08 11:20 AM |
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Jennifer
Happy
Member since 5/05 4230 total posts
Name:
.
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Re: What to bring when you get your taxes done?
Posted by jellybean1420
Medical Expenses
How do you claim medical expenses? DH and I very rarely go to the dr. but now that we have DS, can I claim all the co-pay's from delivery and his visits? Does the insurance company send me something showing all the payments I made or do I need to dig through my bills?
You have to have a tremendous amount. When I brought dh's medical expenses before he had any type of insurance and had to pay out of pocket like $1000, she basically laughed at me and was like we had to be swimming in medical. For me that was a lot of money but I guess not to the government.
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| Posted 1/21/08 12:54 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: What to bring when you get your taxes done?
Posted by aliwnec10
Posted by Blu-ize
Posted by jellybean1420
It depends, do you itemize?
My husband is a cop so he gets a ton of deductions. But we don't need to show anything...our accountant just usually gives him the deductions automatically.
ok, I usually go with a spreadsheet of our itemized deductions including any charity/donation figures. Ours fluctuate each year so i always have different numbers. Our accountant does the dirty work though, I just provide the base.
Did you do any home improvements? Have medical expenses that were not covered?
what kind of home improvements qualify?
we deducted new insullation, new ceilings, plumbing, electrical and some cosmetic things that the accountant deemed acceptable. We also added gutters.
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| Posted 1/21/08 1:00 PM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: What to bring when you get your taxes done?
Posted by aliwnec10
what kind of home improvements qualify?
New windows, new front door, insulation, new heating/cooling system, some electrical work. . . . I think you can basically bring anything with you and the accountant can tell you if you have a deduction.
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| Posted 1/21/08 1:32 PM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: What to bring when you get your taxes done?
Does anyone have a spreadsheet they would like to share? I know there are a lot of very organized ladies on here.
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| Posted 1/21/08 2:35 PM |
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