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CPA · Tax · Advisory
Most people know what their taxes are for, even if it is only general knowledge. They know it is something that they have to deal with every year, but one of the most common questions people have is what information should they bring to their CPA when they are providing tax services. New Port Richey residents should be well aware that they need to provide more information to their tax professional then just their w-2 wage documentation when filing. The number of documents or important information needed by tax professionals only increases when someone has more people they are claiming as dependents under them. Here are some of the more important pieces of information that are needed by a CPA when filing taxes.
Are There Any Dependents Being Claimed?
A dependent may be a qualifying child or qualifying relative who meets the applicable IRS requirements. Eligibility is not determined only by whether a child is under 18 or lives at home. Bring identifying information and records of support, residency, and other relevant circumstances so your tax preparer can determine whom you may claim.
Bring relevant health coverage forms and records of medical expenses to your tax preparer. Medical expenses generally must be unreimbursed to qualify for an itemized deduction, and additional limits apply. Keep any Social Security benefit statements with your other income records; they are separate from health insurance coverage forms.
*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*
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