With the end of the year looming just around the corner, tax season isn’t far off. Our knowledgeable team of accountants can help to make your tax preparation go smoothly and ensure you are properly managing your personal taxes.

When preparing your taxes, it is important to be ready. Below is a list of documents and other information that are important to have on hand, if applicable, to ensure your tax preparation goes smoothly.

Personal Information:

  • Social Security number or tax ID number
  • Spouse’s full name, social security number or tax ID number, and date of birth
  • Information about your stimulus payment(s). You may have IRS Notice 1444 or other records showing your EIP amount
  • Identity Protection PIN, if one has been issued to you, your spouse, or your dependent by the IRS
  • Routing and account numbers to receive your refund by direct deposit or pay your balance due if you choose

Dependent(s) Information:

  • Dates of birth and social security numbers or tax ID numbers
  • Child care expense records (including the provider’s tax ID number)
  • Income of dependents and other adults residing in your home
  • Form 8332 showing that a child’s custodial parent is releasing their right to claim a child to you, the noncustodial parent

Sources of Income or Loss/Expense:

  • Employed – Forms W-2
  • Unemployed – Unemployment (1099-G)
  • Self-Employed – Forms 1099, Schedules K-1, other income records to verify amounts not reported on 1099-MISC or new 1099-NEC
  • Rental Income – Records of related income and expenses
  • Retirement – Pension, Social Security benefits, 401K, IRA, etc.
  • Savings, Investments or Dividends
  • Other Income & Losses
  • Deductions – Home ownership, Charitable donations, Medical expenses, Health insurance, Educational expenses, etc.

Our team understands the latest in federal, state and local tax legislation and other developments that may affect you and your taxes. It is important to have effective tax preparation and planning to help minimize your tax liability. Remember that not all tax planning opportunities and deductions are readily apparent, but with us on your team you are far more likely to benefit from them.