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503 FIRST AVE NORTHEASTMINNEAPOLIS, MINNESOTA 55413
PHONE: 612.824.2829FAX: 612.331.3670
WWW.FOXTAXSERVICE.COM
FOX TAX PLANNING AND PREPARATION
WHAT TO BRING TO APPOINTMENT
DO NOT FORGETINCOME W2s
1099s: 1099-R (Retirement Distributions) 1099-INT (Interest Income) 1099-DIV (Dividend and Capital Gain Income) 1099-B (Stock Proceeds) - Please check to see if all sales have corresponding cost info 1099-MISC (Self Employment Income - ALSO FILL OUT BUSINESS INCOME/EXPENSE WORKSHEET)
SSA (Social Security Income) 99G (Unemployment Received)
Alimony Received
1099-A and 1099-C (Debt Cancellation and Property Foreclosures)
Rental Income – FILL OUT RENTAL WORKSHEET
DEDUCTIONS/CREDITS 1098-T (Tuition Statement for College Education)
Proof and Cost of all Energy Efficient Home Upgrades-See energystar.gov for more info
Bring all Adoption Papers and proof of expenses for new Adoption Credit
Did you have > $10,000 in foreign assets at any time during 2011? Please bring info on income and account values
Yes No
Charitable Donations - Receipts are needed for all Charitable Donation Deductions Now
Form 1098 Mortgage Interest Paid
OTHER IMPORTANT ITEMS Settlement Statements for any Sale, Purchase or Refinance of properties
Signed Release of Exemption Form 8332 if you are claiming a child that does not live with you.
Signed Engagement Letter and Filled out Worksheets (keep scrolling to find those!)
Tax CD from last year
Copy of last year’s taxes (if new client)
For Corporations: Don’t forget to bring Year End Balances on all Accounts and Loans. If you have
Quickbooks or other accounting software, you can email this ahead of appointment Employers: If you hired a formerly unemployed person in 2010 and kept them on payroll for > 12 months, bring information on their payroll for a special credit in 2011.
Please Check here if you'd like to make a donation to the Nongame Wildlife Fund. Amount to Donate: $ ______________
* If you accept credit cards from customers, we need new Form 1099-K from Credit Card Processing Company.
1098-E Student Loan Interest Paid
503 FIRST AVE NORTHEASTMINNEAPOLIS, MINNESOTA 55413
PHONE: 612.824.2829FAX: 612.331.3670
WWW.FOXTAXSERVICE.COM
FOX TAX PLANNING AND PREPARATION
SUBJECT: Preparation of Your 2011 Tax Returns Thank you for choosing Fox Tax LLC to assist you with your 2011 taxes. This letter confirms the terms of our engagement with you and outlines the nature and extent of the services we will provide. In order to ensure an understanding of our mutual responsibilities, we ask all clients for whom returns are prepared to confirm the following arrangements by signing below.
We will prepare your 2011 federal and requested state income tax returns. We will depend on you to provide the information we need to prepare complete and accurate returns. We may ask you to clarify some items but will not audit or otherwise verify the data you submit. An Organizer is enclosed to help you collect the data required for your return. The Organizer will help you avoid overlooking important information. By using it, you will contribute to efficient preparation of your returns and help minimize the cost of our services. We will perform accounting services only as needed to prepare your tax returns. Our work will not include procedures to find defalcations or other irregularities. Accordingly, our engagement should not be relied upon to disclose errors, fraud, or other illegal acts, though it may be necessary for you to clarify some of the information you submit. We will, of course, inform you of any material errors, fraud, or other illegal acts we discover. The law imposes penalties when taxpayers underestimate their tax liability. Please call us if you have concerns about such penalties. Should we encounter instances of unclear tax law, or of potential conflicts in the interpretation of the law, we will outline the reasonable courses of action and the risks and consequences of each. We will ultimately adopt, on your behalf, the alternative you select. Our fee will be based on the forms required plus out-of-pocket expenses. Invoices are due and payable upon presentation. We will require payment prior to the completion of electronic filing of your tax return. We will return your original records to you at the end of this engagement. You should securely store these records, along with all supporting documents, canceled checks, etc., as these items may later be needed to prove accuracy and completeness of a return. We will retain copies of your records and our work papers for your engagement for seven years, after which these documents will be destroyed. Our engagement to prepare your 2011 tax returns will conclude with the delivery of the completed returns to you (if paper filing) or your signing, and the subsequent submittal, of your tax return (if e-filing). Review all tax-return documents carefully before signing them.
To affirm that this letter correctly summarizes your understanding of the arrangements for this work, please sign the enclosed copy of this letter in the space indicated and return it to us with your tax info. We appreciate your confidence in us. Please call if you have questions. Sincerely, Mark Fox Alyssa Fox Fox Tax Service, LLC
(Both spouses must sign for preparation of joint returns.) Accepted By: _________________________________________ ____________________________________________
Taxpayer Spouse _____________________
Date_____________________Date
Date
Taxpayer Name
Address
City
Spouse’s Name
State Zip
DO NOT FORGET - BRING TO APPOINTMENT
If completing tax return at our office, we will be using the Practitioner PIN method of signing returns with a self-selected PIN number that acts as your electronic signature. Signing below verifies that you understand that you will be signing by this electronic and tree-saving method and will not physically sign the actual tax return. We will also provide a copy of your tax return via electronic methods unless a paper copy is specifically requested.
DEDUCTIONS
Moving Expenses**:
PMI:
Non-Cash Charity :*
Union Dues:
PERSONAL DATA
TAX PREPARATION WORKSHEET
503 FIRST AVE NORTHEASTMINNEAPOLIS, MINNESOTA 55413
PHONE: 612.824.2829FAX: 612.331.3670
WWW.FOXTAXSERVICE.COM
FOX TAX PLANNING AND PREPARATION
Taxpayer Name
SSN
DOB
Phone
Occupation
Address
City
Name
SSN
DOB
Relationship
Daycare Name
Daycare SSN/Fed ID#
Daycare Address
Name
SSN
DOB
Relationship
Daycare Name
Daycare SSN/Fed ID#
Daycare Address
Name
SSN
DOB
Relationship
Daycare Name
Daycare SSN/Fed ID#
Daycare Address
Spouse’s Name
SSN
DOB
Phone
Occupation
State Zip
CH
ILD
ON
E
CH
ILD
TW
O
CH
ILD
TH
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E
DEPENDENTS
Daycare Expense K-12 Education Expense Daycare Expense K-12 Education Expense Daycare Expense K-12 Education Expense
*Please Bring Itemized Donation Receipts if Non-Cash Donations exceed $500. For help valuing your non-cash donations, please look at www.itsdeductible.com**Only Applicable if you move more than 50 miles because of a job
Student Loan Interest:
College Tuition/Fees:
Mortgage Int Pd:
Medical Expenses:
Charity by Cash/Check:
Alimony Paid:
IRA Contributions:
Investment Exp:
Property Tax:
Health Insurance:
HSA Contributions:
Employee Expenses: Please list on back
Car Tabs:
Tax Prep Fees:
IRA ROTH SEP
INCOME: AMOUNT DESCRIPTION
Total Income Received:
COST OF GOODS SOLD:
Total Production Costs:Ending Inventory:
EXPENSES:
Advertising & Promotions Anything for Promotion of Bus.Total Miles Driven All Miles on your VehicleBusiness Miles Driven Jan-Jun Business Miles on your Vehicle
Auto Expenses List Gas, Maint., Ins, etc. separately if claiming actual expensesCommissions and Fees
Subcontractors/Labor Any Labor You Paid OutEquipment Purchases (List on Next Page)Business InsuranceBusiness Interest Business Loans (incl. Auto)Legal and AccountingOffice and PostageEquipment Rental
Rent for Office or Practice SpaceBusiness RentIncludes Car Rentals and Equip.
Equipment RepairsAny small items needed for Bus.Supplies
,erafriA levarT Lodging--Not Food or AutoMeals and Entertainment In Town Business Meals with OthersMeals and Entertainment Out of Town All Meals on Bus. TravelDays Out of Town (Meal Per Diem) List Locations and # of Days Sep.
Sales Tax Collected Only if you Charge Sales Tax
Bank Charges On Business AccountsDues and Subscriptions Memberships, Magazines, Etc.Research and Development Books, Classes, Activities in Your FieldCell Phone Only your Plan, Not Extra MinutesBusiness Phone Extra Business Line--NOT 1st Home LineInternetComputer SoftwarePrinting and Film Processing For Business PhotosParkingHealth Insurance PaidCostumes and Props (Performers) Things for Stage OnlyPersonal Maintenance (Performers) Direct Costs for Performance ImageRetirement Account Contributions What Kind? Trad IRA, Roth, SEP, 401K?Health Savings Account Contributions Must have High Deductible Health Ins.Business Gifts Limited to $25 per personTotal Expenses
NET INCOME
BUSINESS INCOME/EXPENSE WORKSHEET
Direct Costs to Make ProductsAt Your Cost, Not Retail
503 FIRST AVE NORTHEASTMINNEAPOLIS, MINNESOTA 55413
PHONE: 612.824.2829FAX: 612.331.3670
WWW.FOXTAXSERVICE.COM
FOX TAX PLANNING AND PREPARATION
Just Self Employed Income-NOT W2
lWages Paid to Others Bring Details on Payro l and Payroll Taxes
Do you have written Log? Y/NBusiness Miles Driven Jul-Dec
* Please list out any additional costs separately that do not fit into above categories.
* If you accept credit cards from customers, we need new Form 1099-K from Credit Card Processing Company.
RENTAL INCOME: AMOUNT DESCRIPTION
Total Rents Received: Do not include refundable deposits
EXPENSES:
Advertising & Promotions Advertising for Rental Property
Total Miles Driven All Miles on your Vehicle
Business Miles Driven Jan-Jun Miles driven for Rental Business
Cleaning and Maintenance Any Cleaning or Maint. Costs
Commissions Pd. To Rental Agencies, etc..
Insurance
Legal and Accounting
Management Fees Pd for Management by Someone Else
Interest - Mortgage
Interest - Other Credit Cards/other loans just for rental
Repairs Repairs to Rental Property
Supplies General Supplies for Rental
Taxes Property Taxes
Utilities Pd by You for Rental Prop.
Rental License Fees
Bank Charges Bounced Check Fees, etc.
Appliances
Improvements Major Improvements to Property
Furnishings
Total Expenses
NET INCOME
RENTAL EXPENSE WORKSHEET
*Always bring any Purchase, Sale or Refinance Closing Papers for the Year. *Fill out one of these pages for EACH rental property
PMI, Liability and/or Umbrella Policies
503 FIRST AVE NORTHEASTMINNEAPOLIS, MINNESOTA 55413
PHONE: 612.824.2829FAX: 612.331.3670
WWW.FOXTAXSERVICE.COM
FOX TAX PLANNING AND PREPARATION
Business Miles Driven Jul-Dec
*If converting property to Rental, we need Fair Market Value of Property at time of Conversion as well as Your Cost of buying and improving property.
503 FIRST AVE NORTHEASTMINNEAPOLIS, MINNESOTA 55413
PHONE: 612.824.2829FAX: 612.331.3670
WWW.FOXTAXSERVICE.COM
FOX TAX PLANNING AND PREPARATION
ITEM DATE PURCHASED
TOTALS
COST DATE SOLD SALE PRICE
SIZE
EXPENSES TOTALS 100% BUSINESS
Square Footage of Office
Square Footage of House
Business Percentage
Mortgage Interest Paid
Property Taxes Paid
Insurance on Home
Repairs and Maintenance*
Improvements*
Utilities
Rent Paid
Other:
Cost of Home (Purch + Improvements)
IN HOME OFFICE EXPENSES
503 FIRST AVE NORTHEASTMINNEAPOLIS, MINNESOTA 55413
PHONE: 612.824.2829FAX: 612.331.3670
WWW.FOXTAXSERVICE.COM
FOX TAX PLANNING AND PREPARATION
* Expenses directly related to office space are 100% deductible - Please List Separately
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