Tax Documents | What To Bring To Your Tax Appointment

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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
    • Closing Disclosure or Settlement statement if you sell a home (primary or investment) as well as documentation of capital improvements

    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

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    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

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    Latest News

    Charitable Planning: A Strategic Approach to Philanthropy and Tax Benefits

    Charitable Planning: A Strategic Approach to Philanthropy and Tax Benefits In the realm of financial planning, charitable planning stands out as a multifaceted strategy that not only furthers philanthropic goals but also offers significant tax advantages. This article...

    Maximizing Tax Benefits through Strategic Business Vehicle Usage

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    Understanding the 529 Savings Plan: A Comprehensive Guide

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    Navigating the World of Business Expense Deductions: A Comprehensive Guide for Small Businesses

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    Detailed Guide on Cryptocurrency Taxation and Reporting

    Detailed Guide on Cryptocurrency Taxation and Reporting  In the United States, the Internal Revenue Service (IRS) has clear guidelines on the taxation of cryptocurrency, which is considered property for tax purposes. This classification has significant implications...

    Gig Economy Taxation: a Detailed Overview

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    Standard Deduction vs. Itemizing: A Comprehensive Guide for Small Business Owners and Self-Employed Individuals

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    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

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