What are you taking to your appointment with the tax preparer?

Robert Holcomb, University of Minnesota extension ag business management educator, suggests making a document checklist that includes the following:

  1. A copy of the most up-to-date accounting report for tax year 2009.
  2. Documents that describe commodities sold with deferred payment contracts.
  3. Government payment documents that have been received with Farm Service Agency payments.
  4. Crop insurance documents showing benefits plus withheld premiums.
  5. Internal Revenue Service documents, including W-2’s and 1099’s showing income received.
  6. Accrual basis taxpayers should take a complete inventory list.
  7. Records of medical, dental, property tax, education and health insurance expenses.
  8. Determination of personal portion of utility, fuel and vehicle expenses.
  9. A copy of last year’s tax return and accounting records.

Source: the farm gate blog