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?

Normally when people who have a family file their taxes, they can also claim their children that are living with them as long as they are below the age of eighteen. When going to see a CPA for tax services, New Port Richey residents should be aware that they need to provide the basic information for these individuals, such as their date of birth, their social security number, or possible their tax ID number when applicable. It is never acceptable to claim someone as a dependent of a household without providing adequate documentation of their existence. People get in trouble every year for claiming someone who is not actually living with them while they are being provided for.

Medical Expenses and Records

Many individuals who file their taxes every year do not realize that medical expenses and services need to be documented because they often do not have to deal with them. For example, with any tax services, New Port Richey residents should be recording their social security benefits to the IRS. Additional things that are important to turn in with a tax return would be receipts for reimbursed medical expenses, or a 1095 form. This is known as health insurance coverage forms, which are sent to the individuals of their specific health insurance company.

*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*