Every year we seem to get the same question asked many times. What do I need to bring in to get my taxes prepared? It seems like a simple answer, however as with almost any questions relating to taxes the answer usually is "IT DEPENDS". It depends on how complex your situation may be.

Lets start out with the basics. W2's and 1099's are a must. Make sure you have them all before you see your tax office. You are supposed to have them in your hand by January 31st.

Would you like to itemize this year? Following is a list of items you will need proof of for your preparer:

• Mortgage interest
  you may claim mortgage interest paid on up to two residences. Possible second homes that would qualify would be vacation homes, motor homes, travel trailers, & boats (must have kitchen & bathroom to qualify). If you have a 2nd mortgage on the same home, the interest is usually deductible however there can be some tricky rules so you may want to consult your tax advisor to make sure it qualifies.
  
  
• Property taxes
  
  
• License plate fees
  
  
• State income taxes or sales tax (whichever is to your best benefit).
  
  
• Donations
  Donations made to churches or other charitable organizations such as Salvation Army or united way are also fully deductible. Make sure you have a receipt for every contribution you made this year.
  
  
• Employment Expenses
  Unreimbursed job expenses such as tools, uniforms, union dues, possibly job mileage as well. If your employer reimbursed you for your out of pocket expenses then you cannot take this deduction.
  
  
• Medical Expenses
  Medical expenses such as prescriptions, doctor bills, & health insurance (paid out of pocket) may be used as well as many others. However, this deduction is not that simple. Your medical out of pocket costs must be at least 7.5% of your Adjusted Gross Income before they can start to be deducted. I have found that most clients will not benefit from this one because the bar is set to high for most of us.
  
  
• Mortgage Insurance Premiums
  New for 2007, taxpayers can write off their Mortgage Insurance Premiums paid. Usually this is charged to you because you were unable to put more than 20% down when you bought your house. This new deduction is only for loans that have originated in 2007, not in any prior year.
  
  
• Local taxes paid
  For those of you who pay local or city taxes, you can add that in to your deduction list for itemizing. This can be missed very easily so make sure you're preparer is on top of it.

In order to itemize you need to have enough deductions in order to exceed your standard deduction. The limits you need to overcome are as follows and depend on your filing status.

• Married - $10,700
• Single - $5,350
• Head of Household - $7,850

As you can see it can be quite the hurdle.

Are you self employed?
If you are self employed you're record keeping requires a bit more finesse. You need proof of every deduction you claim. NO RECEIPT = NO DEDUCTION. I always advise my clients to total up all of their receipts for business into separate categories such as supplies, advertising, repairs, etc. Then bring in the totals. This saves a ton of time for everyone and I guarantee will make your preparer very happy. Don't forget your mileage. The government is currently allowing you a deduction of 48.5 cents for every mile you drive for business! For 2008 it is 50.5 cents! Keep track of every mile. Even though it may seem like small potatoes each trip, the trips can add up to a nice business deduction.

If you are still not sure of what to bring in to your tax office then I would recommend to bring it all. I always tell my clients that it is better to bring in to much information than not enough.