Tips for Preparing Documents for Your Tax Appointment
Getting ready for tax season can feel overwhelming, but with some thoughtful preparation, you’ll make your tax appointment smooth and stress-free.
Here’s a checklist to help you gather the necessary documents and information.
1. Gather Your Personal Information
Ensure you have essential personal data, including:
Social Security Numbers or Taxpayer Identification Numbers for everyone listed on your tax return.
Valid photo identification for you and your spouse if filing jointly.
2. Collect Income Statements
Bring forms that detail your income, such as:
W-2s from employers.
1099s for freelance, contract work, or investment income.
Records of rental income or other earnings, like gig work or tips.
3. Organize Deduction and Credit Records
To maximize deductions and credits:
Compile receipts for deductible expenses like medical expenses and charitable contributions.
Gather mortgage interest statements or student loan interest payments.
Ensure you have the proper documentation for childcare costs or education expenses.
4. Have Last Year’s Tax Return Ready
A copy of your previous year’s tax return can help your preparer identify carryovers and ensure accuracy.
5. Prepare Payment and Bank Details
If you expect to owe taxes or want a refund via direct deposit, have:
Bank routing and account numbers for direct deposit or electronic payment setup.
6. Include IRS Notices
Bring any correspondence you’ve received from the IRS, especially if it pertains to payments, penalties, or adjustments from prior filings.
Bonus Tip: Digital Assets Matter
If you’ve traded or sold cryptocurrency, ensure you have records of transactions and Form 8949 for reporting gains or losses.
Being prepared not only saves time but also helps you file an accurate return, reducing the chances of delays or IRS inquiries.
Happy tax filing!
