Year Round Tax Preparation Checklist, Continued

More Year Round Tax Tips!

Welcome back! In our last post, we started the lengthy checklist for year round tax preparation for your Lancaster, PA small business and individual returns. It’s important to keep documents and records organized, year round. It will eliminate stress for you when tax season rolls around. It will also help your CPA. Ryder and Company, a tax accounting firm serving Wyomissing, Lancaster and Reading, PA, has compiled a checklist to help with year round tax prep. It includes most everything you need to keep safe and separate from daily life. Sometimes, it’s hard to keep things organized. Having a specific place to put important documents helps.  Be sure to use this checklist weekly or monthly. It will help you keep your records and documents accessible for tax season next year! Let’s continue our list and document gathering by starting with:

  • Social Security benefits
  • RA, 401k, 403b, or pension distribution
  • 2010 Roth IRA Conversion
  • 2012 Roth IRA Conversion

Miscellaneous Income

  • Rental income/expense statement
  • Health Savings Account (1099-SA)
  • Gambling winnings
  • Alimony income
  • Jury Duty
  • Scholarships
  • Business income/sale
  • Farm income
  • Partnerships, S Corps, Estates and Trusts (K-1)
  • State and local tax refund

Deductions:  You can reduce your taxes by including expenses for deduction. All deductions must be eligible and you must keep and present all documents in order to receive full credit for the deduction. Tax preparation, especially when you have deductions, can be very rewarding!


  • Mortgage interest and points paid (Form 1098)
  • Property taxes (real estate tax bill)
  • Mortgage insurance (Form 1098)
  • Moving expenses
  • Home improvements for energy-efficiency – receipts of Energy Star approved appliances and products such as, windows, doors, insulation, etc. Donations
  • Cash donations (receipt from charitable institution)
  • Donations in kind – clothes, household items, automobiles (receipt from charitable institution and/or Form 8283) Education
  • Paid student loan interest – deduct up to $2,500
  • Education expenses – post high school education (receipts for tuition, books and fees)


  • Child and dependent care expenses – day care, nursery school, etc. child care provider’s name, address, tax ID or Social Security number or Employer Identification Number and amount paid)
  • Adoption expenses – Social Security Number of child, as well as any legal, medical and travel expenses


  • Medical and dental expenses – treatments, doctor visits, prescription drugs (medical-related receipts)
  • Medical insurance
  •  Health Savings Account contributions


  • Personal property tax – vehicle registration fees
  • Sales tax – boat, car, home renovation (receipts of big-ticket items)
  • Estimated taxes – (Form 1040-ES)
  • Foreign taxes
  • Retirement Contributions
  • Traditional and Roth IRA accounts
  • 401k, 403b and pension contributions
  • Keogh, SEOP, Simple 401k self-employment plan contributions Other Expenses
  • Investment expenses- safe deposit box, investment advisor, custodial fees, and transaction cost
  • Job-related expenses- travel expenses, uniforms, union dues, job hunting costs, education
  • Tax preparation fees- cost of accountants, tax software and postage
  • Alimony payments
  • Casualty and theft- stolen or damaged property from accident, fire, storms or flooding (police report, insurance claim, documentation to support fair market value of property)

Ryder and Company tax preparation experts serve the greater Lancaster, Wyomissing PA and Reading, PA area.
We understand that this checklist is lengthy. We also understand that tax preparation is a headache; even when kept up with all year.  Be sure to trust Ryder and Company to help you with all your tax preparation needs. It’s never to early to call us. We can help you start preparing for the next year’s tax filing, right after you file the current year’s taxes. Contact us today for more information on our tax preparation services.

Skip to content