AI Financial and Tax Advisory

1.      Name, Social Security Numbers and Date of Birth (New Clients Only)

         Yours___________________________________________________________________________

         Your Spouse_____________________________________________________________________

         Dependents (1)___________________________________________________________________

2.    State ID or Driver License Number Details (New requirement; image of State issued IDs)

3.    For Direct Deposit / Payment

Bank Name: ______________________Account Type: Checking ____Saving_____

Routing Number ________________Bank Account No.______________________

4.    Income and Expense Information

Income: W-2 from all employers for whom you and your spouse worked during the year

Investment Income

·         Interest income - Form 1099-INT (If you have online account check your statement)

·         Dividend income - Form 1099-DIV

·         Stocks Sales – Form 1099-B (Proceeds from the sale of stocks, bonds, etc) 

5.    Income from State and Local Income Tax Refunds for previous year-2021/2022

·         Form 1099-G from state or local governments if any

6.    Child Care Expense

·         Total Amount Paid

·         Child care provider's Name, Address, and Telephone

·         Provider's tax ID or Social Security number

7.      Education Expense

·         Tuition statement - Form 1098-T

8.      Student Loan Interest

·         Form 1098-E showing interest paid, or

·         Loan statements

9.     IRA Contributions

·         Year-end account summary or bank statements

10. Itemized Deductions:

·         Home mortgage interest form 1098

·         Property Tax paid for tax year

·         Home equity loan and credit card interest paid in 2022/2023

Charity Contributions and related travel expenses

·         Self Employed and Business related Travel

·         Make, model and year of ownership [or lease] of all automobiles

·         All capital purchases made during the year 2022/2023

·         Expenses for uniforms, uniform care, shoes, trade equipment, subscriptions, licenses and job/business insurances

·         Medical, Dental, Eye Care, Hearing and Preventive and self-care expenses

·         Legal fees, Investment Advisory fees and Tax preparation fees paid

·         Expenses and fees related to meetings, meet-ups, seminars, and conferences

·         Loss of property, equipment and personal belongings (clothing, shoes, glasses, smartphones, etc.) 

11. Moving Expenses

·         For year 2022, only members of Armed forces can take moving expenses

12. F-1 Students Will Send Separate Template for Required Documents 

13. Applying for ITIN for Spouse/ dependent

·         Click on the following link for new changes

·         https://www.irs.gov/Individuals/General-ITIN-Information

·         ITIN application form W-7

14. Self Employed, S Corp, LLC Returns

·         Name of Business, EIN Number, Nature of Business

·         Income from business or 1099 MISC

·         Detail expenses (Categorized)       

·         Form 8938 requirement: if the value of your foreign assets exceeds $100,000 on the last day of any tax year or $150,000 at any time during the year (for married filing jointly); Half of those amounts for single filers.

·         If the value of your foreign accounts exceeds $10,000 at any time during the tax year

You will have to file FBAR by new deadline which is xx/xx/xxxx

See details: https://www.fincen.gov/news/news-releases/new-due-date-fbars-0

[FBAR is not part of our tax filing… you have to file at your own.] 

17. Medical Insurance:

·         Provide information of your/family coverage in 2022/2023

     Form 1095A required only for who insured through Obama Care