Tax Organizer



Tax Season 2020

A Letter to My Clients

Due to time constraints during tax season – we will require all tax documentation to be dropped off or sent to our office prior to the appointment.  This will enable us to avoid “missing document” problems that can waste time for both of us. We will set an appointment after reviewing documents to ensure the tax return is complete. 


Checks, Cash, Visa, & Master Card accepted. Thank you!

We will need to charge a $50.00 missed appointment fee during tax season because of the time constraint. 24 hour notice is needed if you cannot make an appointment. Please arrive a few minutes early to ensure that your appointment time is maximized.  


December 21, 2020

Tax time is right around the corner!!  Here are some ideas to get your information ready for your 2020 tax return compilations:

  • General tax gathering information:
    • Review tax year 2020 documents for sources of wage/investment income.
    • Gather a list of banks, financial institutions, brokerages, mutual funds, etc. to see what documents you should receive by the 1st week of February, 2021.
    • Donate goods or monies to qualified charitable institutions before December 31, 2020 to increase deductions and get a receipt (see link for schedule). 
    • Gather receipts and documents listing your charitable contributions, real estate tax payments, mortgage payments (including refi docs-HUD1), student loan interest, etc. 
    • American Opportunity (education) Credit is up to $2,500, available for the first four years of post-secondary education.  Lifetime learning Credit remains.  AGI limits apply. 
    • List any estimated tax payments for tax year 2020, both Federal and State.
  • Dependent Information:
    • Gather dependent/exemption information (SS #'s, date(s) of birth, birth certificateetc.) that may be needed.
      • The child tax credit is $2,000 per child ages 16 and under for 2020, AGI limits apply.
      • Dependent credit is $500.  
    • Dependent Care Benefits (box 10 on W2) must be set up prior to the end of the year; this can save you money.  Set up Flexible Spending Plans.
  • Retirement Planning:
    • 401K maximum contribution in 2020 is $19,500.00, extra $6,500.00 if over 50.
    • Required Minimum Distributions - from IRA/Retirement accounts for 2020. Age requirement is 72 for tax year 2020. You had the option to skip the RMD for 2020 due to COVID-19.
    • You may be able to contribute to your IRA up to $6,000.00 before April 15, 2021, and deduct it on 2020 taxes. AGI limits apply.  
    • Education IRA/ESA contribution limits are $2,000.00.  
    • Roth/Traditional IRA contribution limits - $6,000.00 for 2020, extra $1,000.00 if age 50 or over. AGI limits apply. 
  • Mileage:
    • Business mileage deduction57.5 cents/mile
    • Medical mileage - 17 cents/mile
    • Charitable mileage - 14 cents/mile
  • Self Employed (Schedule C):
    • Self Employed Health Insurance deductions are 100% in 2020; gather business-related expenses for 2020. 


  • **Miscellaneous deductions which exceed 2% of your AGI will be eliminated for tax years 2018 through 2025. This includes deductions for unreimbursed employee expenses, tax preparation expenses, as well as the home office deduction.
  • **Recent tax law updates renewed prior years extenders provisions for tax year 2019 and tax year 2018.

See above to download a Tax Organizer.


Call for an appointment if you need to establish an IRA, if you have a retirement plan (401K, Simple, or SEP) from a previous employer to rollover, or if you need to establish a retirement plan for yourself or for your company. 

As a registered representative for Cetera Financial Specialists LLC, I am able to create and coordinate a plan for your current and future financial needs.