Seven Questions to Ask Your Tax Preparer at Tax Time

When you visit with your tax preparer to drop off your tax return documents, be sure to ask the following seven questions and share the answers with your financial planner:

1. Will I be subject to the alternative minimum tax (AMT) in 2010?
2. What will my marginal tax bracket be in 2010?
3. Can you help me estimate my income for 2010?
4. Do I have any remaining capital loss carryforwards for 2010?
5. If I were to do a Roth conversion in 2010, what would my tax liability be?
6. Do you have an recommendations for reducing my 2010 taxes? What about 2011 and beyond?
7. Is there anything my financial planner can do to help my tax situation?