Personal Tax Preparation Checklist
A tax preparation checklist might look a little intimidating and overwhelming, but don’t
worry! A tax preparation checklist is designed to help you get started in simplifying the tax
filing process. Most folks won’t have all of the information listed in the tax preparation checklist,
just refer to what fits your tax filing situation. We’ve just put it all together here to make
sure it fits everyone, and insures you don’t forget anything.
For instance, if you had jury duty during the tax year, you’ll need to have a record of that. Or, remember that that prize or award money you may have won, well it may count toward your total income. The more items we point out to you on a tax preparation checklist, the better job we can do on your tax return.
Checklist for Personal Tax Preparation
Your Personal Information
- Social security numbers - yours, your spouse’s and dependents.
- Child tax credit payment and amount
- Child care costs with checks, invoices, provider name and provider’s tax ID and SSN
- Any adoption costs
- Education Costs
Your Income Tax Information
- Income from jobs, Forms W-2 for all employers
- Investment income, brokers’ statements, foreign investments, Stock options and sales proceeds
- Local and state tax refunds
- Statements for alimony received.
- Business or Farming Income
- Accounting records for your business
- Payroll records
- Invoices for machinery, equipment, furniture
- Records listing vehicle mileage and Inventory
For home business: Estimate federal tax for square footage of home office area and the portion of utilities used in that area. Other costs include rent paid if rented, Form 1098 for Mortgage interest, property tax payments, Home owners insurance payments, invoices for repairs and maintenance on your house.
- IRAs or retirement plans, Deposit receipts and contribution records as well as other tax deductions
- Rental property income
- Unemployment check stubs and deposit records
- Income from sales of property. Cost of the sold property. Invoices etc for improvements.
- Miscellaneous incomes like jury duty pay records, Scholarship records
Your Itemized Tax Deductions
- Mortgage statement.
- Refinancing costs, deducting points, closing fees, title work, and mortgage points.
- Investment interest expense: Brokers’ statements showing any margin interest paid
- Losses due to theft etc + insurance reports showing reimbursements
- Charitable donations, receipts or cancelled checks for cash donations, mileage records.
- Work related expenses : union dues, supplies, gifts to clients, uniforms or special clothing, seminars attended, professional publications and books. Travel information, lodging, restaurants, parking, job search expenses and job related educational expenses.
- Misc. deductions, Safe deposit box rental fees, IRA custodial fees, investment advice costs.
- Medical and dental expenses
- Real estate tax bills or cancelled checks if you bought, sold, or refinanced property.
- Employee SSN and wages paid during tax year to any household employees.
- Foreign bank account information with name, location account number and account value.
you're completing your taxes in an office or using downloadable software or online
tax preparation solutions, we're here to help take the hassle out of figuring out what you
need to do a proper job, and insure you keep your tax bill to a minimum. After all, Shouldn't
you be keeping as much of your hard earned income as you can instead of giving more than your
fair share to Uncle Sam
So check use our tax preparation checklist to help you fill in any forms that apply to you this tax season, and organize better for future year tax filing tasks.