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Tax Tip: Your Forms are Online

January 16th, 2010 at 09:37 pm

I have found nearly all of the tax forms that financial firms we do business with are online. The 1098's from the mortgage companies were both online. I was able to download the 1099-INT from our money market account as well.

Next week I hope to be able to get my husband's W2 online as well. Actually, that is the only form I'm waiting for. I will probably have filed our taxes by this time next week! Cool, huh?

The 1099G from our state came in the mail, so not everything is available online. But it sure doesn't hurt to start entering the information from the tax forms as you can get your hands on them.

Do you have a place to put the tax forms you receive yet? If not, get out a folder now so you have one place to go to when you do your tax return.

I use a basic folder and actually write notes on the inside of the folder. I include a list of tax documents I need and check them off once I have entered them in. I also use it to make some calculations. Although maybe not the best idea, I listed the user name and password for the online program I'm using this year.

Tax filing can be quick and painless if you are organized and stay on top of the things you need. Need a hint about what you need? Look in last year's tax file or a copy of your 2008 return.

Happy tax filing!

Posted in Taxes | 7 Comments »

7 Responses to “Tax Tip: Your Forms are Online”

  1. ceejay74 Says:
    January 16th, 2010 at 11:15 pm 1263683700
    1263683700

    What a coincidence! I realized this on Friday and was able to get student loan interest info, mortgage interest and real estate tax, and a year-end summary of my paychecks which, while not my official W2, allows me to guesstimate our taxes at least.

  2. boomeyers Says:
    January 17th, 2010 at 05:34 am 1263706482
    1263706482

    We have a small business now. Not sure what we are supposed to be doing. This is all a learning experience!

  3. creditcardfree Says:
    January 17th, 2010 at 02:13 pm 1263737591
    1263737591

    Good luck, Boo! We had a business at the beginning of our marriage. My FIL took care of the taxes then.

  4. ceejay74 Says:
    January 17th, 2010 at 03:57 pm 1263743872
    1263743872

    Boo, we've done some freelance work, so I've done small-business taxes before. In my experience, unless you have large equipment costs (which you need to calculate depreciation for) or employees, it's pretty simple. Income minus expenses equals profit, and that's what you pay taxes on. Based on what you find out this year, you should start making quarterly estimated tax payments in 2010 or else you'll be penalized for owing too much.

    Besides the form 1040, you'll need a schedule C or C-EZ (depending how simple your business's books are) to figure out your profit or loss, and a schedule SE to figure out your self-employment tax.

  5. monkeymama Says:
    January 17th, 2010 at 04:15 pm 1263744930
    1263744930

    I just need the kids' taxable account 1099s so I can do their taxes. (Usually report it on ours - no taxes - but they had a mutual fund sale so I have to file returns for them for the first time. Ugh. No place to report capital gains/losses otherwise).

    I got everything else online - yes. I think the official mortgage 1099 is not done, but they had a transaction history of interest. I calculate it as I go, anyway, but nice to know we agree. Wink
    My taxes are mostly done. I have to file by Jan. 31 if I don't want an IOU from the state! But, didn't owe them anything (As planned, phew!)

  6. dmontngrey Says:
    January 17th, 2010 at 05:01 pm 1263747680
    1263747680

    My mortgage statement is the ONLY piece of paper I have so far! *sigh* I have a long way to go before I can get started on this stuff.

  7. frugaltexan75 Says:
    January 17th, 2010 at 08:23 pm 1263759804
    1263759804

    I don't have any tax documents yet. With yet another change of address, I imagine what I have coming will be delayed. Not that I'm in any hurry to find out how much I owe

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