Tax Documents You Need to Bring to Your Tax Preparer

As tax season rolls around, it’s easy to feel a mix of anxiety and confusion about preparing your taxes. Whether you’re filing for the first time or you’ve been through the process many times, gathering the right documents can make a world of difference. Having everything organized not only helps your tax preparer find every possible deduction and credit but also brings you peace of mind knowing that you’re set up for success. In this article, we’ll list the essential tax documents to bring along, so you can approach your tax planning appointment with confidence.

The following checklists will be for individuals, small business owners, and those who have a charity/non-profit organization. These will provide you with the most common tax documents needed. However, this can differ depending on your situation, special requirements, business structure, etc. Be sure to contact your tax preparer if you have anything you are unsure about. You can also visit the IRS website for more information. 

To have your individual tax return completed, you should gather the following documents:

 

1. Personal Information:

• Social Security numbers (SSN) for yourself, your spouse, and any dependents
• Dates of birth for all family members
• Your current address

 2. Income Documents:

• W-2 forms from employers
• 1099 forms for freelance work, interest, dividends, or other income
• K-1 forms for income from partnerships or S corporations
• Records of any other income (rental income, alimony, etc.)

3. Adjustments to Income:

• Contributions to retirement accounts (IRA, 401(k))
• Health Savings Account (HSA) records
• Student loan interest statements (Form 1098-E)
• Tuition payments or education credits (Form 1098-T)

4. Deductions and Credits:

• Mortgage interest statement (Form 1098)
• Property tax receipts
• Charitable donation receipts
• Medical expenses (if applicable)
• Childcare/dependent care expenses (provider’s info and amounts paid)
• Retirement contributions

5. Health Insurance:

• Form 1095-A, 1095-B, or 1095-C for health insurance coverage

6. Banking Information:

• Bank account details and routing number for direct deposit of your refund

7. Side jobs and/or self-employment

• Statements from banks, payment apps, online marketplaces, or card processors
• Checks paid to you
• Receipts and vehicle mileage logs for travel, gift, and car expenses
• Deductible office expenses records
• Estimated tax payments
• Business income and expense records

8. Other Relevant Documents:

• Last year’s tax return
• Any IRS notices or correspondence
• Documentation of any estimated tax payments

 

To have your business tax return completed, you should gather the following documents:

 

1. Business Information:

• Employer Identification Number (EIN)
• Business formation documents (e.g., LLC or corporation paperwork)
• Previous year’s tax return

2. Income Documents:

• All sales and revenue records (invoices, receipts, etc.)
• 1099 forms received for contracted work or freelance income
• Bank statements for business accounts

3. Expense Documents:

• Receipts and invoices for business expenses (supplies, utilities, rent, etc.)
• Payroll records (W-2s and 1099s for employees and contractors)
• Vehicle expenses (mileage logs, maintenance records)

4. Asset Information:

• Records of business assets (equipment, property, etc.)
• Depreciation schedules

5. Deductions and Credits:

• Records of any home office expenses
• Business travel expenses (receipts and itineraries)
• Information on any business loans or interest paid

6. Health Insurance:

• Records of health insurance premiums for yourself and employees

7. Other Relevant Documents:

• Bank account statements
• Any notices or correspondence from the IRS
• Documentation of estimated tax payments made

 

To have your charity/non-profit organization tax return completed, you should gather the following documents:

 

1. Organization Information:

• Employer Identification Number (EIN)
• Articles of incorporation or organization documents
• Bylaws of the organization

2. Income Documents:

• Records of all donations and contributions (receipts, bank statements)
• Grants received
• Fundraising income and event records
• Any earned income from activities related to the mission (i.e. sales or services)

3. Expense Documentation:

• Receipts and invoices for all expenses (operational costs, salaries, supplies)
• Records of any in-kind contributions (non-cash donations)
• Documentation for program-related expenses

4. Financial Statements:

• Year-end financial statements (balance sheet, income statement)
• Budget versus actual reports

5. Tax Forms:

• Previous year’s tax return (Form 990, 990-EZ, or 990-N)
• Schedule of contributors (if applicable)

6. Compliance Documents:

• Minutes log from board meetings
• Documentation of compliance with state and federal regulations
• Records of any lobbying or political activities (if applicable)

7. Additional Information:

• Any IRS correspondence
• Documentation of any volunteer hours and contributions

 

Final Points

Bringing the necessary documents to your tax preparer is more than just a checklist; it’s a vital step in ensuring your tax return is accurate and complete. When you’re organized and prepared, you not only save your preparer valuable time but also help them identify every possible deduction and credit that could benefit you. This attention to detail can lead to a larger refund or a lower tax bill, giving you peace of mind during what can often be a stressful time. So, as you gather your paperwork, remember that each document plays a role in painting a clearer picture of your financial situation. By being diligent and thorough, you’re setting yourself up for a successful tax filing experience and paving the way for financial confidence in the year ahead!

 

Further Reading

Preparing for Income Tax Filing: A Guide for Small Business Owners

 

Your Feedback is Welcome!

Thank you for taking the time to read this article. These checklists can be a great tool to refer back to when necessary. If you have any questions, comments, or suggestions, please contact us by using the email below. Thank you again and I hope you have a great day!

 

Kayla M. Pham / admin@rataxandaccounting.com

Administrator