If we wrote an article

[veritas]

about professional tax preparation.

What would our top ten suggestions be?

[DTS]

Article

I am too tired to respond to this right now, but I have a feeling this is going to be some thread!

Good for you for starting something positive and diverting us from that aggrevating trash this morning!

Dennis

[JG EA]

Be nice to the preparer and bring her coffee. She likes that.

[David1980]

10 tax tips

Just throwing out a quick list of 10 to start things off.

Keep all your tax documents, and give your tax preparer written amounts for your deductions. It's far easier to keep everything in a folder and have it ready than it is to get replacement copies of documents because you didn't think your preparer would need it.

Bring a copy of your prior year return with you. Preferably 3 years if you can manage. Not only does this give your preparer the opportunity to review prior year returns for possible missed deductions, but also contains valuable information for preparing the current return and ensures carry forwards are properly included on your current year tax return.

Shop around for a preparer that matches your need. If you have a simple return you don't want to use the most expensive preparer in town. If you have an unusual tax situation you may even be able to find a preparer who specializes in that area of tax.

Show up to your appointment on time and be respectful of your preparer. Tax preparers are very busy during tax season making a majority of their annual income in 4 short months. Missed appointments and rude behavior can negatively affect the quality of your tax preparation.

If you have an unusually complex return this year consider preemptively suggesting an extension to your tax preparer. Prepares have far more time to do proper research for unusual situations after April 15th.

Review the tax return after it's been prepared. If anything looks weird to you, ask your preparer about it. If you get audited "My preparer said I could do it" is not usually a valid excuse to avoid taxes.

Thinking of a RAL? Just don't do it! Do an IRS Direct Deposit and wait a couple weeks. You'll save a lot of money.

Have your preparer help adjust your withholding. If you consistently have refunds that are thousands of dollars you are giving an interest free loan to the government. You can get access to that money sooner by lowering your federal tax withholding and have the use of the money when earned instead of waiting to file a tax return.

If you're thinking about doing something that involves a lot of money ask your preparer about the tax consequence before doing it. For example pulling money out of your 401k almost always has tax consequences you need to balance against having the use of the money.

After you've paid for your return follow up on it. If it's being efiled confirm receipt of the return with the IRS and any states. If it's being mailed make sure it was actually mailed -- preferably if mailed, mail it by certified mail to ensure receipt. If there was a balance due make sure you sent a check or have the funds available on the date of a direct debit.

[Peachie]

I don't have 10 right now, but

I would suggest if your dependents are not well behaved--leave them home. Nothing worse than being distracted by children with no discipline.

Peachie