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Resources and Tips

Tax Prep Checklist: What to Gather Before Filing  Your Taxes

Tax Prep Checklist

Filing taxes can be a complex process, but being well-prepared with the necessary documents and information can make it much easier. To ensure a smooth and accurate tax filing experience, use this comprehensive checklist to gather everything you need before filing your taxes:

Personal Information:

  • Social Security numbers for yourself, your spouse, and any dependents listed on your tax return.

  • Birthdates and legal names of all individuals included on your tax return.

  • Any changes in marital status or dependents during the tax year.


Income Documents:

  • W-2 Forms: Gather all W-2 forms from each employer you worked for during the tax year.

  • 1099 Forms: Collect any 1099 forms for various types of income, such as freelance work, rental income, or investment income.

  • Other Income Statements: Include income statements for any other sources of income, like interest or dividends earned.

Deduction and Credit Documents:

  • Expense Receipts: Collect receipts and documentation for deductible expenses, such as medical expenses, mortgage interest, property taxes, and charitable donations.

  • Education Expenses: Gather records of educational expenses and student loan interest payments.

  • Tax Credit Documentation: Include documentation for any eligible tax credits, such as child tax credits or education credits.

Business and Self-Employment Documents (if applicable):

  • Profit and Loss Statements: Prepare profit and loss statements that detail your business's income and expenses.

  • Business Deduction Records: Gather records of business-related deductions, such as office supplies, travel expenses, and equipment purchases.

  • Estimated Tax Payments: Collect documentation of any estimated tax payments made throughout the year.

Health Insurance Information:

  • Forms 1095-A, 1095-B, or 1095-C: Gather any forms related to your health coverage, as these may be needed to complete your tax return.

  • ACA Exemptions or Penalties: Include any documentation regarding exemptions or penalties related to the Affordable Care Act (ACA).

By gathering these essential documents and information before filing your taxes, you can streamline the process and ensure accurate reporting. Remember, this checklist serves as a general guide, and it's always advisable to consult with a tax professional or refer to the IRS guidelines for specific requirements and deductions applicable to your unique situation.

At Elitist Business Solutions, our team of tax experts is here to assist you with any questions or concerns you may have regarding your tax preparation. Contact us today to learn more about our services and how we can support you in filing your taxes with confidence.

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