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Milwaukee Office

6320 West Forest Home Avenue

Milwaukee, WI 53220

Client Checklist & Worksheets

Being prepared truly helps make the tax preparation experience go smoothly.  With that said, we have a number of helpful items listed below that can help you to organize and manage your particular tax situation.

The Client Checklist is first on the list and should be filled out by each tax client.  Many clients ask if it's really necessary to fill this out every year, things never really change, can't we use last year's checklist, etc.  The answer to that question is YES, It IS necessary to fill this checklist out each year!  The reason it is necessary is two-fold.  First, the checklist is updated each year to include (and sometimes exclude) questions based on the constantly changing tax laws.  Trust us when we say the tax laws do change every single year and this year we had FIVE new tax laws which is extremely unusual.  In some cases, a new tax law created in March was then changed in December with a new tax law  This list is updated with the most recent information.  Whether it is a large amount of changes or a few changes, these do potentially impact your tax return.  The second reason is that you, the taxpayer, can easily have a singular situation in a tax year that is different from what you had in the past.  The point of this checklist is to help catch those unusual tax events to make absolutely sure that your tax return is accurate with ALL of your tax information and avoid any potential letters from the IRS because one item was accidentally forgotten.  Also, we included this checklist with the letter we mailed to all clients in January, 2021 for 2020 Tax Year Returns.

Do you have a child that you are claiming on your tax return?  Please fill out the Qualifying Child Worksheet.

Do you own a small business?  If you are self-employed and file a Schedule C, then this worksheet can help you organize all your potential deductions.

Do you have a rental property?  This worksheet is intended to help you organize all your potential deductions.  We do ask that you use one sheet per rental property.

As part of your Schedule C Business or Schedule E rental property you may have some mileage that is deductible.  All mileage is required to be documented in order to be claimed.  This Auto / Truck Expense & Mileage Worksheet can help you consolidate your records onto one sheet.  The monthly mileage is necessary because the mileage rate will occasionally change mid-way through the tax year.

Have you had any debt forgiven or cancelled in the past year?  This can include credit cards, mortgages, or other types of debt that you did not pay back.  In those situations the forgiven debt is considered to be taxable income to you, the taxpayer.  There are a few options to potentially reduce or remove this from your taxable income and these options will be discussed with you when your tax return is being prepared.  Please check out this link.

Do you have a child in college, paying student loans back, or have children attending private school in Kindergarten through 12th grade?  Please check out this link below.

Have you spent some time gambling this past year?  All gambling income should be reported, not just the W2-G.  We have created this worksheet to assist you in tracking your gambling income and losses to be in compliance with IRS guidelines.  Please check out this link below.

Finally, a few more links are below to help you with the gathering of your tax information.