AI Financial and Tax Advisory

(973) 464-6987 | Mirro7@gmail.com

• high income professionals,
• wealthy going thru divorce; death; or planned transfer of wealth,
• entrepreneurs with multiple sources of income and options grant,
• retirees with substantial income from early withdrawals or RMDs,
• early withdrawals from IRAs and pension plans,
• and special situation tax filers reporting cash windfalls from winnings, legal cash settlements, and inheritance from transfer of wealth.

Each case is unique and we use AI to do research, due diligence, tax planning, and tax preparation-- based on interpretation of the current tax law and macro tax filing strategy within the current tax law and follow the tax code.

Check List For Tax Year 2022/2023 (Click Here to Download)

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

         Yours___________________________________________________________________________

         Your Spouse_____________________________________________________________________

         Dependents (1)___________________________________________________________________

         2)___________________________________________(3)_________________________________

 

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)       

      15. Starting a Business 

• Start up expenses, Meeting, Conferences, Seminars

• Professional Consulting and Legal

• Registrations, Licensing, Permits, Business Insurance, Fire Insurance, Liability Insurance

• Memberships, Association Dues, Union Dues

• Advertising, Promotions, Branding, Website, Directory Listings, Social Media

• Communications, Phones, Cell Phones, Internet, Answering Services

• Travel, Tolls, Parking, Local travel, Auto Expenses and Mileage

• Health Insurance, Masks, Sanitizers, Uniforms, Shoes, Uniforms

• Rents, Home office, and Misc. Expenses

16. Reporting Foreign Assets

·         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

         www.LeRumbaTax.com

[Curated content based on excerpts from posts, blogs, media articles, and sponsored research]