Planning ahead is key if possible. With that said, here is a list of things that you might need:
Individuals – Income
- W-2 – A statement of income from your employer mailed out by January 31st
- Social Security Statement (if you receive social security)
- 1095-A – Marketplace Insurance Verification Form
- Farm Income & Expenses
- Sale of home/property
- K-1 Form – Income from S-corp/Partnerships/Trusts
- Alimony
- 1099-NEC – A statement of income if self-employed or a subcontractor. Mailed out by January 31st.
- 1099-INT – Interest Income
- 1099-DIV – Dividend income
- 1099-B – Reports of brokerage trades
- 1099-C – Cancellation of Debt
- 1099-R – Income from a retirement account
- 1099-G – Lottery winnings or state refunds
- Unemployment Compensation
Individuals – Deductions
- Non-Cash Charitable Donations (Goodwill, Salvation Army, etc…)
- Cash Charitable Contributions
- 1098 Form – Mortgage Interest Paid
- Medical/Dental/Vision Expenses
- State Taxes
- 1098-T – Student Tuition Paid
- 1098-E – Student Loan Interest Paid
Businesses – (S-corp, Sole-proprietor, LLC, etc…)
- Profit & Loss/Financial Statement
- 1099-NEC/MISC forms
- List of Business Expenses
- List of other Business Income
- Receipts for big purchased items
Business – List of possible Expenses
- Mileage
- Parking
- Travel
- Car Rental
- Lodging
- Business Gifts
- Training/Education
- Home Office
- Office Supplies/Equipment
- Uniforms
- Phone (Cell & Landline)
- Taxes/Licenses
- Meals
- Postage
- Advertising
- Commissions/Contract Labor/Casual Labor
- Depreciation
- Employee Benefits
- Insurance
- Inventory
- Business Mortgage/Rent
- Business Interest Paid
- Legal/Professional Fees
- Repairs/Maintenance
- Supplies
Rothman Tax Services 