The 2008 Personal Tax Prep Page:
John Rukosky
of Rukosky & Associates
We believe there is a critical difference
between our firm and others that
perform only financial planning:  while
others will refer you to a tax advisor
after having designed a financial plan
for you, at Rukosky & Associates
Financial Group Inc.  you are
consulting with a tax accountant, so
we know your plan will succeed.
Contact us:
508 Driewood Court
Raleigh, NC  27609
Office:  919.781.9319
Mobile:  919.906.4234
Fax:  919.791.0990
Email: john@rafginc.com
Personal Information
Please update the following information with me:
  • Your new address, if you’ve moved
  • Your new employment, if you changed jobs
  • Social security numbers and birthdates of any new family
    additions

Income Information

  • Your W-2 forms (last paystub won’t work for filing purposes)
  • Tip income if not reported on your W-2
  • All 1099 forms from banks, brokerages (Charles Schwab, Edward
    Jones, etc.), or from individuals (due to Installment Sales or
    mortgages)
  • Refund form from the State of NC
  • All 1099-R statements (from pensions, etc.)
  • Unemployment compensation
  • Forms from Social Security
  • 1099-S forms you may have received when you sold your home
  • Tobacco payout income (bring your payout schedules with you)


Possible Personal Deductions

  • Educator expenses: more than $250 is ok, if substantiated
  • Archer MSA Health Plan deductions (increased for 2008)
  • Armed Forces Reservist travel expenses
  • Health Saving Account deductions (increased for 2008)
  • Moving expenses (to deduct moving expenses, your new job
    location must be at least 50 miles from your old residence than
    your previous job location)
  • Penalties you may have paid on early withdrawal of savings
  • 401(k) or IRA losses if you liquidated your 401(k) or IRA
  • Contributions you made to an IRA, to their limits
  • Tuition and associated class fees you paid for you, your spouse,
    or children
  • Student loan interest you paid
  • Child and dependent care expenses
  • Estimated tax payments you made to the IRS or to the NC Dept.
    of Revenue
  • Medical expenses (doctors, dentists, chiropractors, hospitals,
    urgent care clinics, prescription drugs, vision care, medical
    equipment and supplies, ambulance fees)  
  • Medical mileage:  any mileage you incurred to receive medical
    attention, including going to the drugstore)
  • Health insurance premiums you may have paid, including long-
    term care premiums (but not those premiums deducted from your
    paycheck at work, and unfortunately, not accident or sickness
    policy plan premiums)
  • Sales taxes you paid on a large purchase (car, boat, RV, or a
    combination of these items)
  • Real estate taxes you paid on your primary residence, other land,
    or a second home (please report these figures separately). Even if
    you don’t itemize your deductions!
  • Other personal property taxes you may have paid
  • Mortgage interest you paid (Form 1098)
  • If you bought or refinanced a home, bring your HUD Settlement
    Statement
  • Mileage you drove for charitable purposes
  • Charitable contributions you made:  separate the amounts into
    two categories: (1) cash donations you made and (2) non-cash
    contributions you made (Salvation Army, Goodwill, Veterans, etc.)
  • Casualty or theft losses you may have incurred in 2008:  I’ll need
    to know the date the loss occurred, when you purchased the
    damaged property, the original value of the property, and any
    insurance reimbursement you got)
  • Unreimbursed employee expenses:  some examples are: union or
    professional dues, professional subscriptions, uniforms and
    protective clothing, job search costs, continuing education costs,
    software, cell phone, internet, cable TV, home office expenses. If
    you think you have something to claim but aren’t sure, call me
    before you come and we’ll walk through it.
  • Unreimbursed employee auto expenses: if you are going to
    deduct mileage costs that you were not reimbursed for, please
    bring the following:

The year of the vehicle
The total mileage you put on that vehicle in 2008
The amount of business-related mileage you put on the
vehicle in 2008
Your daily round-trip commuting distance to get to work
If you are going to deduct actual expenses, bring all of the
information as if you were going to deduct for mileage
instead of actual expenses, and then also bring all your
receipts, totaled up.
Unreimbursed meal and entertainment expenses, lodging
expenses, travel expenses (bus, airfare, ferry, etc), and toll
and parking fees.
If you have two jobs, bring the mileage from your first job to
your second job
If you are going to school, you can deduct:  (1) mileage to
school if you are not employed or (2) mileage to and from
school back to home if you are “regularly employed” and
go to school on a temporary basis (your classes are
expected to last less than 12 months).
Investment counsel or advisory fees
  • Attorney and accounting fees. They don’t all qualify, but bring
    them.
  • Safe deposit box fees
  • IRA custodial fees
  • Losses incurred as a result of a total distribution of all Traditional
    or Roth IRA’s
  • Gambling losses. Your winnings and losses have to be
    documented to be deducted
  • Casualty and theft losses from income producing property

Specialty Deductions (Firefighters, Law Enforcement, and Military)
In addition to the Unreimbursed Employee Expenses listed above,
Firefighters, Law Enforcement Officers, and Military clients will want to
bring figures for the following:

  • Continuing education costs
  • Computers and computer-related supplies and printing supplies
  • Equipment you purchased that is related to your job
  • Army Reservists:  mileage that you incurred going to your
    assignment
  • Mileage incurred from your first job to your second job, if you have
    one.
  • Also, if you are going to school, you can deduct:  (1) mileage
    from your home to school if you are not employed on a regular
    basis or (2) mileage to school and from school back to home if
    you are regularly employed and go to school on a temporary
    basis (your classes are expected to last less than 12 months)

NOTE:  Each of us lives a different life. If you aren’t sure that an
expense you’ve incurred is deductible, bring the receipt with you.
If you don’t bring something with you, nothing says we have to
finish your return that day, right?


Directions
Same place as last year:  my home office at 508 Driewood Court,
Raleigh, NC  27609. If you need directions:

  • From Knightdale:  440 Beltline (Inner). Off at Wake Forest Road
    exit. Go right (North) on Falls of Neuse Rd. Go through six lights.
    Turn left at the seventh light (Millbrook Rd). Go one mile to
    Cedarwood Drive. Turn right onto Cedarwood. Turn into the
    second driveway on your left side and park in the grassy area.
    Please do not park on the street if at all possible…we try to be
    considerate of our neighbors who need to back out of their
    driveways. Thank you!

  • From Wake Forest:  head South (towards Downtown) on either
    Louisburg Road, Capital Boulevard, or Falls of Neuse Rd,
    whichever is closest to you. When you reach Millbrook Rd., turn
    right, heading towards Six Forks Rd. After you pass over Falls of
    Neuse Rd. go one mile to Cedarwood Drive. Turn right on
    Cedarwood Dr.  Turn into the second driveway on your left side
    and park in the grassy area. Please do not park on the street if at
    all possible…we try to be considerate of our neighbors who need
    to back out of their driveways. Thank you!
THINGS TO CONSIDER AND BRING