Key Documents to Bring to Your Tax Appointment

Tax season is coming up fast—and if you plan on working with a Certified Public Accountant, you’ll want to start preparing now. Below are just a few of the things you’ll need to bring to your appointment.

Personal information

When you meet with your tax professional, you’ll need to have a Photo ID, social security numbers (or Individual Taxpayer Identification Numbers) for yourself, your spouse, and every single one of your dependents, including your children and/or elderly relatives that live in your household. Additionally, you’ll also need to have everyone’s birthdates, your bank account information, including your account and routing numbers, and a copy of your 2019 and 2020 tax returns, if possible.

Income information

Were you employed in 2021?  If yes, your employer will send you a W2 form by January 31. If you had more than one employer, you can expect to receive a W2 from each one. If you were a self-employed freelancer, you can expect to receive one or more 1099 forms. Be sure to have everything gathered and ready before you meet with your CPA.

Other income documents may include a Social Security income, alimony, disability income, income from rental properties, interest statements from your bank, and income derived from selling real estate, stocks, and/or bonds.  If you received an Economic Impact Payment and/or Child Tax Credit advanced payments, the IRS will send you additional notices for those. Be sure to bring them to your tax appointment.

Expenses and write-offs

Self-employed individuals will also want to gather information about their expenses, including but not limited to business travel, meals, mileage, home office expenses, utilities, cell phone bills, and other related documents. You’ll also want to collect proof of what you spent for medical and childcare expenses, retirement account contributions, college tuition, student loan payments, property tax statements, and mortgage statements.

Remember- gathering all of your receipts and storing them in a shoe box is good but organizing your expenses into a spreadsheet (and taking time to organize your receipts by category) is a lot better.

Have questions? We can help

It’s never too soon to start planning for your tax appointment. For more information about the types of documents you should start collecting, or for tips on how you can start getting organized, call Hughes, Snell & Co., PA to speak with an expert. Call our office now to get started.