Tax Preparation Checklist - Part 8

February 16, 2007

Owning a home can be a great tax shelter.  Many times the interest paid to the lender and the property taxes can be deducted on one’s personal income tax filing.  However, there are many other items you will want to consider.  Of course, this is not meant to give tax advice, you should always consult with a CPA or tax preparer to decide if this is possible for you.  Here are several items to help you with your preparation in filing your Personal Tax Return.

Part 8 - MISCELLANEOUS TAX DOCUMENTS
* Federal, state and local estimated income tax paid for current year: Estimated tax vouchers, cancelled checks and other payment records
* IRA, Keogh and other retirement plan contributors:  If self-employed, identify as for self or employees
* Records to document medical expenses
* Records to document casualty of theft losses
* Records for any other expenditures that may be deductible
* Records for any other revenue or sales of property that may be taxable or reportable

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