1) Set up a file (or box) for your 2015 taxes. Put a label on it and drop in your Form W-2 and 1099s as they come in the mail.

2) Open the envelope with your JMF organizer. Please use the organizer as a guide to make sure you have everything that you had last year and mark through any items you will not have in the current year. The JMF organizer is much shorter this year and it is easy to use. Answering the questions on the JMF organizer will help us help you save taxes. Please put the organizer in your tax file to give to JMF.

3) If you think you will be getting a refund and you would like your refund direct deposited be sure to note in your organizer if the bank account is the same as last year. If your bank account has changed or we do not have it on file include a void check or check photocopy for the account you would like the refund deposited.

4) Please write down all of your driver’s license information and your spouse’s information if you are married. (Driver’s License Number, State of Issuance, Expiration Date and Date of Issue). The State of Alabama is requiring this additional information in order to electronically file your return and in an effort to combat identity theft.

5) If you made internet purchases during the year and no sales tax was charged please send a total of those purchases for the year. Generally, if the online retailer does not have a storefront in Alabama no sales tax is charged. Amazon has not yet started to collect sales tax for Alabama. Alabama wants you to pay a 4% use tax with your return on these purchases. Entering an amount (an estimate will do) will help to keep you from getting a notice.

6) Locate those charitable donation receipts for amounts of $250 or more and put them in that tax file.

7) Take a look in your checkbook to see if you paid the estimates we set up for you last year & make a note of how much & when you paid them.

8) You should receive form 1095-B and either form 1095-A or 1095-C related to your primary health insurance plan. Please make sure you provide us with the forms you receive with your other tax records.

9) We recently sent you our 2015 tax engagement letter in which, to reduce confusion, we tried to consolidate some of the specific questions we are required to ask related to various issues such as the ownership of foreign assets and medical insurance coverage. Your review and response to these questions and return of the signed letter to us with your other tax records will save us a great deal of time as we prepare your returns. Also, if you have any depreciable items related to a business, rental or farm schedule please return the signed capitalization policy sent to you. The IRS increased the amount per asset available to expense from $500 to $2,500 for 2016.

10) Put March 31, 2015 on your calendar. Please mail or bring your tax documents to your JMF accountant before that date or let us know if you prefer to get an extension. You may also submit your documents electronically by using this secure Client File Drop or access your Secure Client Portal. Ask your CPA to set up a portal for you if you would like to receive a pdf copy of your return when completed each year.

11) Now is a good time to also start a file for 2016 taxes (you can put those charitable donation receipts in there all year long).

“Anyone may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.” Judge Learned Hand – 1934