Tax Preparation Checklist

A Checklist for Preparing Your Taxes

We want you to have all the information to maximize deductions and pay as little taxes as possible. Taxperts doesn't want paying your taxes to be overwhelming. That's why we've put together this handy checklist.

• It includes personal information like your Social Security numbers and taxpayer identification numbers.
• Having your previous year's return handy is excellent.
• Streamline the process by having routing numbers and bank account numbers ready for refunds and direct deposits.



You'll also need to put together some income documents. Those should include:

• The W2 forms that come from employers.
• Other forms for rental income, gig work, and freelance work that include a 1099 and cover independent contractor earnings.
• Investment income statements are also important including those for retirement income.
• Social Security benefits and unemployment benefits both need to be included.
• Business income records need to include receipts and invoices as well as profit-loss statements.
• Expense records and rental income records must be added.
• If you've received alimony that needs to be included.

Deductions and credits are also important for this checklist. They should include property tax payment receipts, tuition and education expenses, and student loan interest statements. State and local tax payments should also be included in this section.

Don't forget to add in self-employment and business deductions like home office expenses as well as advertising and marketing money. Equipment and supply purchases should also be included.

Special Credits

Some of the special situations that get included here are a child tax credit and earned income tax credit. This category also includes HealthCare Marketplace statements if they are applicable.

Don't forget there are some other documents that need to be categorized in your checklist including any IRS notices or correspondence. Bank statements are important verification documents.

You should also add in any papers related to settlements, child support, or divorce.

Final Tax Checklist Steps

It's important to review everything to make sure that it's accurate. Of course this isn't a do-it-yourself project. Consulting with a tax professional is the best way to make sure you get all your deductions and the forms are done properly.

Here at Taxperts we suggest e-filing. It speeds up the entire process and avoids delays when you use our personalized tax service