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Tax Preparation Checklist

If you read our article on Organizing A Tax Preparation Checklist, then you will understand the importance of organization. Taxes are a massive burden on us all, even if you can afford them they still take ages to get right for your government. Unfortunately, you can’t exactly dodge your taxes – legally, anyway – so therefore its important that you understand the need for strong and intelligent planning for your tax returns.

Whether you are using a software like TurboTax or you are working through a professional tax attorney, it’s vital that you get the right level of accomplishment and you have everything in the one location. Here are some just some of the documents that you need in any given tax return form;

Income Info

  • W-2 Income Forms for you and your spouse, should you live together
  • 1099 forms, K-1s, and stock options are all important parts of your tax return as they detail your investment income
  • Any alimony payments received
  • Any state income or tax refunds
  • Business income, including capital and profit/loss
  • Your business location i.e. home or an office
  • Pension forms 1099-R and 8606
  • Social Security forms SSA-1099
  • Rental property income vs rental property expenses
  • Property sales income
  • Misc. income i.e. gambling winnings and scholarships

Income Adjustments

Providing some of these below can help you lower the amount of your income that is actually taxed, meaning you could get a bit of a reprieve;

  • IRA Contributions

  • Energy Credits
  • Student Loans
  • Self-employed Health Insurance
  • MSA Contribution
  • Education expenses

Tax Credits

The government provides a wide array of different discounts and reductions to make tax more easily payable by families. This means that you have more money in your pocket if you can make claim of any of the below;

  • Child Tax Credits

  • Care Care Costs – provide all the details!
  • Education
  • Adoption costs
  • Mortgage interest points – Form 1098

Other than these extremely useful documents, you should always look to give any information on any estimated tax payments that have been made, any direct deposits and any foreign bank accounts you own. All of this information can help you massively with tax – so make the most of it! 


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