Review Checklist for Individual Taxpayers

(Items that may affect the income tax situation of the Individual Taxpayer; not all inclusive)


1) Receive a notice from the IRS or any state Division of Taxation

2) Change your address

3) Change jobs

4) Change your name

5) Get married

6) Get divorced

7) Live apart from your spouse

8) Have a child

9) Adopt a child

10) Use a day care center for your child

11) Send a child to college

12) Death of a spouse or dependent child

13) Provide a home for a parent or sibling

14) Take a foster child into your home

15) Turn 59½

16) Turn 62 or 65

17) Become disabled

18) Become visually impaired

19) Receive unemployment compensation

20) Receive workers compensation

21) Receive disability or sick pay

22) Receive proceeds from a lawsuit

23) Receive an inheritance or gift

24) Receive social security for the first time

25) Receive retirement benefits for the first time

26) Withdraw money from an IRA for the first time

27) Withdraw money from an annuity for the first time

28) Inherit an IRA, pension, or annuity

29) Receive alimony

30) Receive jury duty pay

31) Receive election poll compensation

32) Receive a fee as Executor or Personal Representative

33) Serve as a Paid Trustee

34) Receive a Director fee

35) Win the Lottery

36) Win a raffle prize/sweepstakes

37) Win at the casino/race track

38) Win on a game show

39) Have high medical expenses

40) Make non-cash charitable contributions

41) Make high cash charitable contributions

42) Refinance your mortgage

43) Begin using your car for business

44) Change the car used in your business

45) Started a new business for profit - call us to discuss the accounting

46) Think about starting a business for profit. Call us for a free consultation to discuss incorporating or forming a Limited Liability Company

47) Create a Corporation/Partnership/LLC

48) Hire your spouse or child under 18

49) Purchase or sell business equipment

50) Invest in mutual funds for the first time

51) Sell personal property at a profit

52) Sell securities

53) Sell or buy personal residence

54) Redeem Series E/EE savings bonds

55) Invest in rental property

56) Sell rental property

57) Purchase a farm and equipment

58) Sell a farm and equipment

59) Suffer a casualty or theft loss

60) Create a Living Trust