Costa Mesa Accountant: “You Might Need To See This Again”

The IRS just released a study which shows that the average time it takes ALL taxpayers to do their taxes is a total of 18 hours. (Editor: I wonder what the number is for Costa Mesa-area taxpayers? Probably even higher)

The number is even higher if you don’t just use the 1040EZ form. Bet you wish you had that hour of daylight savings time back, don’t you?

Seeing that figure once again reminded me of the Costa Mesa tax service we get to provide. Truth be told, it doesn’t require those kind of man-hours for us to complete most returns, even those which are more complicated. But that’s also because after all — we’re sort of experts at this stuff (It’s not for nothing that we’ve been called the best tax professionals in Costa Mesa — and the most trusted).

Already, we have many, many clients who have filed, have received refunds and have written us notes telling us that they’ve never been more pleased. This makes me happy, as you might imagine.

Well, we’d like to ask you a favor, and we have a simple way to help you help us, as it were. Yes, we’re extremely busy, but we’ve set aside some capacity for friends and family of our clients. The reason we’re willing to do this is that we already know that you are a good person to work with (else we would have released you as a client!) so it stands to reason that you associate with similar people.

Would you send this blogpost to your friends (post it on Facebook, even?) and have them let us know you sent them?
Now, we posted this in the beginning of the year, but I thought it worth "re-releasing", if you will, as we reach about one month left in "tax season" …

Bass’s Tax Time Document Chase List for Costa Mesa-area TaxPayers
Yes, this is a long list — but it’s the unfortunate reality of our tax code that it’s not even comprehensive! But these items will cover 95% of our clients.  Really, this is for ensuring that we’re able to help you keep everything you deserve to keep under our tax code.

Even if for some strange reason you won’t be using our cost-effective services this year, feel free to use this list as a handy guide…

Personal Data
Social Security Numbers (including spouse and children)
Child care provider tax I.D. or Social Security Number

Employment & Income Data
W-2 forms for this year
Tax refunds and unemployment compensation: Form 1099-G
Miscellaneous income including rent: Form 1099-MISC
Partnership and trust income
Pensions and annuities
Alimony received
Jury duty pay
Gambling and lottery winnings
Prizes and awards
Scholarships and fellowships
State and local income tax refunds
Unemployment compensation

Homeowner/Renter Data
Residential address(es) for this year
Mortgage interest: Form 1098
Sale of your home or other real estate: Form 1099-S
Second mortgage interest paid
Real estate taxes paid
Rent paid during tax year
Moving expenses

Financial Assets
Interest income statements: Form 1099-INT & 1099-OID
Dividend income statements: Form 1099-DIV
Proceeds from broker transactions: Form 1099-B
Retirement plan distribution: Form 1099-R
Capital gains or losses

Financial Liabilities
Auto loans and leases (account numbers and car value) if vehicle used for business
Student loan interest paid
Early withdrawal penalties on CDs and other fixed time deposits

Personal property tax information
Department of Motor Vehicles fees

Gifts to charity (receipts for any single donations of $250 or more)
Unreimbursed expenses related to volunteer work
Unreimbursed expenses related to your job (travel expenses, entertainment, uniforms, union dues, subscriptions)
Investment expenses
Job-hunting expenses
Education expenses (tuition and fees)
Child care expenses
Medical Savings Accounts
Adoption expenses
Alimony paid
Tax return preparation expenses and fees

Self-Employment Data
Estimated tax vouchers for the current year
Self-employment tax
Self-employment SEP plans
Self-employed health insurance
K-1s on all partnerships
Receipts or documentation for business-related expenses
Farm income

Deduction Documents
State and local income taxes
IRA, Keogh and other retirement plan contributions
Medical expenses
Casualty or theft losses
Other miscellaneous deductions

We hope this helps, and we really look forward to seeing you this year!

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