For qualifying clients, the engagement letter will provide the basic personal information I need to set you up in my tax software. It will also include questions required for your federal return, inform you about the necessary bank account details and identification I need copies of, and inquire if there's any income, such as Gambling Income, that should be reported on your tax return but isn't found on a tax form or tax document you received. This means you might not need to complete any of the worksheets below to provide me with everything I need. For clients with other income that should be reported, or those with a Schedule C self-employed business or Schedule E rental property, the downloadable worksheets can help you organize and provide your income and expenses efficiently. Feel free to download, complete, and upload any applicable worksheets to me, including a Mileage Log if relevant.
Just a reminder that NONE of the worksheets below are REQUIRED to be submitted unless I specifically ask you to complete one due to your situation or if the information I received isn't enough to fully report what needs to be reported. While they might reduce potential questions I need to ask you, which can help lower your costs, these worksheets are optional.
The section below the list of downloadable worksheets provides more information about the purpose of the tax organizer and helpful tips related to each worksheet.
WORKSHEET NAME: General Tax Organizer
WORKSHEET PURPOSE: Memory jogger
HELPFUL TIP: This is meant solely to provide a more complete picture of what tax situations you may have encountered during 2024. It can help you remember something that might have happened during 2024 that you should be reporting (HSA contributions, Indiana 529 contributions, etc.).
WORKSHEET NAME: Estimated Tax Payments
WORKSHEET PURPOSE: Provide me with a history of estimated tax payments made for 2024.
HELPFUL TIP: Estimated tax payments can be made by mailing in a check and voucher, paying online through EFTPS (federal) or INTIME (Indiana), or utilizing other less common methods. This can help you provide the specific information needed to enter the estimates you paid.
WORKSHEET NAME: Schedule A
WORKSHEET PURPOSE: Provide real estate tax payments and other itemized deduction information.
HELPFUL TIP: Individuals who take the standard deduction might also want to use this to provide me two things that are used on the Indiana return despite not getting a benefit on the federal return: Real estate taxes paid and donations to Indiana colleges and universities.
WORKSHEET NAME: Schedule C
WORKSHEET PURPOSE: Organize and provide answers, income, and expenses needed for your self-employed business.
HELPFUL TIP: There are certain questions that have to be answered on Schedule C, and this worksheet asks those specific questions. It might also help self-employed business owners see potential deductions they might have otherwise forgotten to provide. I highly recommend taking the simplified home office deduction unless you have a situation where you have a sizable office in your home that is truly used exclusively for business.
WORKSHEET NAME: Schedule E
WORKSHEET PURPOSE: Organize and provide answers, income, and expenses needed for your rental property.
HELPFUL TIP: There are certain questions that have to be answered on Schedule E, and this worksheet asks those specific questions. It might also help landlords see potential deductions they might have otherwise forgotten to provide.
WORKSHEET NAME: Gambling Income
WORKSHEET PURPOSE: Provides information about casino and non-casino gambling income.
HELPFUL TIP: W-2Gs are most commonly received from casino winnings, but they can also be issued for other gambling activities such as bingo, poker tournaments, or other wagering situations.
WORKSHEET NAME: Mileage Log
WORKSHEET PURPOSE: Organize and provide information needed to report mileage.
HELPFUL TIP: Mainly used for Schedule C or Schedule E situations, but it can also be used for tracking medical miles and charitable miles on Schedule A. Feel free to provide your own mileage log instead of this one, but yours will need to include the same information listed on this worksheet.
WORKSHEET NAME: Due Diligence
WORKSHEET PURPOSE: Checklist of information I might need from you in order satisfy IRS reporting requirements.
HELPFUL TIP: If you anticipate having the earned income credit, child tax credit, or head of household filing status, submitting a completed copy of this worksheet/checklist can save me time when preparing your return. I may direct you to find this worksheet and submit it at some point during the engagement if you haven't already completed it.
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