![]() How to adjust your wealth plan in the coming year in order to minimize next year’s tax burden.Which medical expenses from last year-if any-might qualify as tax deductions.Talk to Your Regions Wealth Advisor About: Tuition statements from educational institutions that you or a dependent attended.Records of cash and non-cash charitable donations to schools, hospitals, houses of faith or other charitable organizations.Total amount of state/local income and, in some states, sales taxes.Mortgage statement from your lending institution.Distributions from Social Security, IRAs or other retirement accounts.Gambling and lottery winnings or losses.Any taxable inheritances or trust distributions.Closing statement and cost-basis information from any real estate you’ve sold in the past year.Cryptocurrency and digital asset transactions.Contribution to retirement accounts such as a 401(k), IRA, Roth IRA or SEP (Simplified Employee Pension Plan).These will come as 1099 statements, which you generally won’t receive until mid-February. Capital gains, interest and dividend income from investment accounts.Information pertaining to irrevocable trusts, if you’ve established one in the past year.Child care records, including any child support payments.W-2 forms (you’ll have a W-2 from any employers you’ve had this year).do not have your 2017 tax return, call the Internal. Social Security numbers and dates of birth for you, your spouse and your dependents Forms W-2, 1098, 1099, or income and expense records if you are self-employed.Now, let’s take a look at everything you need to file this year. Food Banks Tax Assistance & Financial Services Program provides low-income New Yorkers with free tax preparation services, helping them get the refunds and. Sometimes people are so focused on getting this year’s return done, but now is a good time to think about what changes you might make this year or next year,” she says. If you’re planning on any sales this year, loop your advisor in. “When you’re sitting with your advisor or your CPA, now is the time to be talking about the current year and filing for next year. Ceron recommends taking a proactive approach to taxes-meaning you should think not just about last year’s taxes but also next year’s and how the coming year will affect your financial goals. Once you have gathered all your documents, you should also take the opportunity to talk to your Private Wealth Advisor. Check in Monthly The best way to keep your receipts and expenses is to check in regularly. Ceron, Wealth Advisor at Regions Private Wealth Management in Fort Lauderdale, Florida. Forks, Trust Advisor at Regions Private Wealth Management in Oxford, Mississippi, and Christine M. The list below provides a rundown of what you’ll need when you file your taxes, according to Caroline K. Tax season has arrived, which means it is time to gather essential details and documents about your financial life from the last calendar year. The important information and documents you’ll need.
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