Business Expenses Worksheet
If this is your first year with our firm, please provide a depreciation schedule for all property placed in service in prior years.
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There are many events that occur during the year that can affect your tax situation. Preparation of your tax return involves sum-marizing transactions and events that occurred during the prior year. In most situations, treatment is firmly established at the time the transaction occurs. However, negative tax effects can be avoided by proper planning. Please contact us in advance if you have questions about the tax effects of a transaction or event, including the following:
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Pension or IRA distributions.
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Significant change in income or deductions.
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Job change.
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Marriage.
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Attainment of age 59½ or 73.
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Sale or purchase of a business.
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Sale or purchase of a residence or other real estate.
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Retirement.
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Notice from IRS or other revenue department.
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Divorce or separation.
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Self-employment.
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Charitable contributions of property in excess of $5,000.
*This post contains general information for taxpayers and should not be relied upon as the only source of authority. Taxpayers should seek professional tax advice for more information.