Tax Documents

What to bring to your tax appointment

Prior Year Tax Return

Copies of last two years tax returns (to confirm credits, deductions, carryover losses, depreciation, amortization, etc.)

Personal Information

Tax Identification Numbers are mandatory items on your tax prep checklist. All taxpayers will need the following information. New clients should provide copies of social security cards.

  • Your social security number or tax ID number
  • Copies of your driver’s license or state identification card (required to e-file in certain states)
  • Your spouse’s full name and social security number or tax ID number
  • Copies of your spouse’s driver’s license or state identification card (required to e-file in certain states)

    Dependent(s) Information

    Parents and caregivers should gather this information as they review what they need to file their taxes. New clients should provide copies of social security cards.

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

    Sources of Income

    Many of these forms won’t apply every year. For example, you will only receive the investment forms you may need to file your taxes if you had distributions or other activity.

    Employed

    • Forms W-2

    Unemployed

    • Unemployment, state tax refund (1099-G)

    Self-Employed

    • Forms 1099-MISC or 1099-NEC, Schedules K-1, income records to verify amounts not reported on 1099s (i.e. Profit & Loss per business, access to bookkeeping records, etc.)
    • Records of all expenses — check registers or credit card statements, and receipts. (The firm does not require that you provide copies of these items, but you are required to maintain proper books and records to substantiate your expenses in the event of audit for a period of at least 3-years. If you wish for us to do the bookkeeping of your records, we can do this for an additional fee)
    • Business-use asset information (cost, date placed in service, etc.) for depreciation
    • Office in home information, if applicable
    • Record of estimated tax payments made (Form 1040–ES)

    Rental Income

    • Records of income and expenses per rental location
    • Rental asset information (cost, date placed in service, etc.) for depreciation
    • Record of estimated tax payments made (Form 1040–ES)

    Retirement Income

    • Pension/IRA/annuity income (1099-R)
    • Traditional IRA basis (i.e., amounts you contributed to the IRA that were already taxed)
    • Social security/RRB income (1099-SSA, RRB-1099)

    Savings & Investments or Dividends

    • Interest, dividend income (1099-INT, 1099-OID, 1099-DIV)
    • Income from sales of stock or other property (1099-B, 1099-S)
    • Dates of acquisition and records of your cost or other basis in property you sold (if basis is not reported on 1099-B)
    • Health Savings Account and long-term care reimbursements (1099-SA or 1099-LTC)
    • Expenses related to your investments
    • Record of estimated tax payments made (Form 1040–ES)
    • Transactions involving cryptocurrency (Virtual currency)

    Other Income & Losses

    • Gambling income (W-2G or records showing income, as well as expense records)
    • Jury duty records
    • Hobby income and expenses
    • Prizes and awards
    • Trusts
    • Royalty Income 1099–Misc.
    • Any other 1099s received
    • Record of alimony paid/received with ex-spouse’s name, SSN, and date of dissolution

    Types of Deductions

    The types of deductions you can take depend a lot on your life situation. It’s likely you won’t need all of the records listed below for your tax documents checklist.

    Please note: we do not require to see your receipts, but it is a good idea to maintain your receipts for your personal burden of proof. We just need total amounts by category for expenses.  If you wish to learn more about how we can help you with bookkeeping, please call 281-440-6279 to learn more.

    Home Ownership

    • Forms 1098 or other mortgage interest statements
    • Real estate and personal property tax records
    • Total cost for energy-saving home improvements (e.g., solar panels, installation)
    • All other 1098 series forms

    Charitable Donations

    • Cash amounts donated to houses of worship, schools, other charitable organizations
    • Records of non-cash charitable donations
    • Amounts of miles driven for charitable or medical purposes

    Medical Expenses

    • Amounts paid for healthcare insurance and to doctors, dentists, hospitals (Only applicable if your medical expenses are extremely high, normally over 7.5% of your annual income)

    Health Insurance

    • Form 1095-A if you enrolled in an insurance plan through the Marketplace (Exchange)

    Childcare Expenses

    • Fees paid to a licensed day care center or family day care for care of an infant or preschooler
    • Wages paid to a baby-sitter

    Educational Expenses

    • Forms 1098-T from educational institutions
    • Other expenses that itemize qualified educational expenses
    • Records of any scholarships or fellowships you received
    • Form 1098-E if you paid student loan interest

    K-12 Educator Expenses

    • Total expenses for classroom expenses (for educators in grades K-12)

    State & Local Taxes

    • Amount of state/local income tax paid (other than wage withholding), or amount of state and local sales tax paid
    • Invoice showing amount of vehicle sales tax paid

    Retirement & Other Savings

    • Form 5498-SA showing HSA contributions
    • Form 5498 showing IRA contributions
    • All other 5498 series forms (5498-QA, 5498-ESA)

    Federally Declared Disaster

    • City/county you lived/worked/had property in
    • Records to support property losses (appraisal, clean up costs, etc.)
      Records of rebuilding/repair costs
    • Insurance reimbursements/claims to be paid
    • FEMA assistance information

    PAssionately Engaged

    We aren't your average tax firm. We specialize in helping you maximize your tax situation and live more comfortably.

    Education Focused

    We guarantee you will learn something new. If you are looking for an average experience, we probably aren't the firm for you.

    Feels Likely FamiLY

    We started business 40 years ago out of the Molen's home and to this day, we still treat our clients like family.

     

    Latest News

    Dates to Remember

    Subscribe Now

    Should I Open an HSA?

    Should I Open An HSA Account? Are you considering a Health Savings Account (HSA)? If so, it is vital to understand what exactly an HSA entails. With this guide, you'll learn all about it: the advantages of an HSA and how it can help you manage your medical expenses....

    Personal Finance Tips for Young Adults

    As someone who has been working for most of their life, I wish there was someone out there who had shown me the correct way to save money for my future. Now that I am in my 30s, I have been getting better at saving money, but there are some personal finance tips that...

    How to Track Expenses

    There are many different methodologies, tools, tips, and tricks for tracking expenses, and it ultimately depends on your lifestyle and how actively and accurately you want to track them. This is information I’ve pulled from other sources and compiled into a few...

    How To Accurately Record Commuting Mileage and Increase Tax Deductions

    Increase Tax Deductions With the Business-Mileage Rule Using the Business Mileage tax deduction can be tricky. There are lots of situations that count while others do not. We don’t like commuting mileage. You should dislike it, too. It’s personal. It’s not deductible....

    Bookkeeping 101

    As a new business owner, you will certainly have some responsibilities you won’t be able to avoid. One of those non-negotiable part of your business is producing financial statements. It can be overwhelming trying to master a topic such as bookkeeping but don’t worry...

    Bankruptcy – Everything You Need to Know

    Everything you need to know Filing for bankruptcy protection is considered a statement on your ability to repay your debt to your creditors. Filing for bankruptcy will also put a halt to foreclosure or legal actions against you, and it stops creditors from calling and...

    Top Tax Tips for 2023

    Tax Refunds May Be Smaller This Year Plan now to learn these 2023 tax tips avoid surprises in the future! If you’re expecting a tax refund in 2023, it may be smaller than last year, according to the IRS. Your annual balance is based on taxable income, calculated by...

    What is an EA?

    Have you ever seen the title EA next to a tax professional’s name and wonder what it means? Or maybe you’re familiar with the title and you’re curious about the differences between an EA and CPA? Either way, in this blog I will be answering these frequently asked...

    Familiarize Yourself With Tax Terminology

    Yes, I know, tax terminology feels like a whole new language. For most people all of tax forms can be even more confusing than a foreign language. What’s the difference between itemized deduction and standard deduction? What’s Income tax?  These words and more tax...

    History of Federal Income Tax Rates: 1913 – 2021

    The United States federal government levies taxes on the income of its citizens and legal residents. The Internal Revenue Service (IRS) is the agency responsible for collecting these taxes.  Federal income tax rates have changed several times since 1913, when the...

    Needs Analysis

    Free One Hour Discovery meeting for business owners looking for an advisor to help them with their taxes or accounting.

    S-Corp & Partnership Filing Deadline

    TX - June 15th, 2021

    Non-TX - May 17th, 2021

    Individual, Estate, Trust, & C-Corp Filing Deadlines

    TX - June 15th, 2021

    Non-TX - May 17th, 2021

    Monthly Newsletter

    We strive to be education focused in all we do. Sign up for our monthly newsletter to learn from the experts and improve your taxes and finances!

    Latest News

    Should I Open an HSA?

    Should I Open An HSA Account? Are you considering a Health Savings Account (HSA)? If so, it is vital to understand what exactly an HSA entails. With this guide, you'll learn all about it: the advantages of an HSA and how it can help you manage your medical expenses....

    Personal Finance Tips for Young Adults

    As someone who has been working for most of their life, I wish there was someone out there who had shown me the correct way to save money for my future. Now that I am in my 30s, I have been getting better at saving money, but there are some personal finance tips that...

    How to Track Expenses

    There are many different methodologies, tools, tips, and tricks for tracking expenses, and it ultimately depends on your lifestyle and how actively and accurately you want to track them. This is information I’ve pulled from other sources and compiled into a few...

    How To Accurately Record Commuting Mileage and Increase Tax Deductions

    Increase Tax Deductions With the Business-Mileage Rule Using the Business Mileage tax deduction can be tricky. There are lots of situations that count while others do not. We don’t like commuting mileage. You should dislike it, too. It’s personal. It’s not deductible....

    Bookkeeping 101

    As a new business owner, you will certainly have some responsibilities you won’t be able to avoid. One of those non-negotiable part of your business is producing financial statements. It can be overwhelming trying to master a topic such as bookkeeping but don’t worry...

    Bankruptcy – Everything You Need to Know

    Everything you need to know Filing for bankruptcy protection is considered a statement on your ability to repay your debt to your creditors. Filing for bankruptcy will also put a halt to foreclosure or legal actions against you, and it stops creditors from calling and...

    Top Tax Tips for 2023

    Tax Refunds May Be Smaller This Year Plan now to learn these 2023 tax tips avoid surprises in the future! If you’re expecting a tax refund in 2023, it may be smaller than last year, according to the IRS. Your annual balance is based on taxable income, calculated by...

    What is an EA?

    Have you ever seen the title EA next to a tax professional’s name and wonder what it means? Or maybe you’re familiar with the title and you’re curious about the differences between an EA and CPA? Either way, in this blog I will be answering these frequently asked...

    Familiarize Yourself With Tax Terminology

    Yes, I know, tax terminology feels like a whole new language. For most people all of tax forms can be even more confusing than a foreign language. What’s the difference between itemized deduction and standard deduction? What’s Income tax?  These words and more tax...

    History of Federal Income Tax Rates: 1913 – 2021

    The United States federal government levies taxes on the income of its citizens and legal residents. The Internal Revenue Service (IRS) is the agency responsible for collecting these taxes.  Federal income tax rates have changed several times since 1913, when the...

    Dates to Remember

    Needs Analysis

    Free One Hour Consultation for any new business owner looking for an advisor to help them with their taxes or financials.

    S-Corp & Partnership Filing Deadline

    TX - June 15th, 2021

    Non-TX - March 15th, 2021

    Individual, Estate, Trust, & C-Corp Filing Deadlines

    TX - June 15th, 2021

    Non-TX - April 15th, 2021

    Subscribe Now

    LOCATION

    11555 Champion Forest Dr.
    Houston, TX 77066

    info@molentax.com

    Phone: (281) 440-6279

    Fax: (281) 716-6000

     

    HOURS

    Tax Season Hours

    Mon - Fri - 8:00am-8:00pm

    Saturday - 9am-1:00pm

    Sunday - Closed

    Building Relationships that Last Generations

     

    Pin It on Pinterest

    Share This

    VOTE FOR

    MOLEN & ASSOCIATES

    FOR BEST TAX FIRM

    As part of the Houston Chronicle's "Best of the Best" Competition 2023

    You can vote every day from March 27th to April 10th