If you want a smooth tax season, start preparing the paperwork now.

So, you’ve decided to get some help with your taxes this year. That’s great news! But simply setting up a meeting isn’t all you’ll have to do.

As the one responsible for the return, it’s your job to gather all the necessary paperwork and identification. Otherwise, you could end up with delays, missed payments, and costly fees if it’s not done right.

Given how important it is to prepare for a tax meeting, we’ve outlined all the things you’ll need to bring to the appointment below.

Identification

Although it sounds simple – providing identification is one of the most important things you’ll need to bring to the meeting. This information is needed to verify that you are who you say you are. Additionally, since the tax professional is filling out the report on your behalf, they will need access to your documents to prove your identity.

So, be sure to show up to the appointment with it. The most vital piece of identification you’ll need is your social security card. As well, you should have the card and information for each member of your family. Otherwise, you won’t be able to claim dependents on your return.

That said, it’s also a good idea to bring a secondary form of ID. Something like a passport, driver’s license, or any other state-issued picture ID card can help.

Most Recent Tax Return

Even though you may not qualify for the same deductions and write-offs as the previous year, you should still provide the tax professional with the previous year’s return. This information is helpful seeing as it will give them access to personal information (such as deductions).

The tax professional will also be able to go through the previous year’s return to discuss any discrepancies or questions you may have about it.

Proof of Expenses

In order to get your deductions and credits, you’ll have to show proof. This means you should gather all of your charges and account information before the appointment, so you can provide it to the professional.

Everything from your receipts, invoices, medical bills, charitable donations, IRA contributions, job-hunting expenses, mileage logs, education bills, self-employment expenses, and more will need to be gathered.

Otherwise, if you don’t have the proof – the expense can’t be submitted. And, not being able to provide proof can get you into serious trouble with the law. In the event that you are selected for an audit, you will be responsible for providing this evidence to them. That’s why it’s better to gather the information before submitting the claim. So, if anything comes back to you, you know that you’ve got the proof you need to justify it.

Wage Statements

If you’re an employee at a company, you receive a Form W-2 wage and tax statement from your employer. This document should have been received by January 31st and will need to be passed on to the tax professional handling it.

All non-employees (including independent contractors and freelancers) should have received Form 1099 MISC. This would have been sent by each client and will also need to be gathered and provided.

Income Statements

Any additional income you receive will also need to be submitted during the meeting. This can include things like interest and dividend income from investments, unemployment, or social security. Regardless, if you received money from any additional sources, you should get statements for each.

Although gathering all of these statements and paperwork can seem tedious, it’s important to go prepared for the appointment. Failing to have all the correct documents in place can result in more work down the line, leaving you vulnerable to audits and costly fines.

So, consider getting the help you need by visiting a professional like us at A.P Accounting and Tax Services. We can be there for you throughout the whole process; making sure you have all the correct information, documents, and paperwork to get you through tax season.

If you’d be interested in learning more, or knowing what services would help you this tax season, give us a call at 407-328-5001.

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