Tax preparation documents checklist
Let's Get Prepared to File
Welcome to Empowerment Financial Group, LLC! To ensure your tax filing process is smooth and stress-free, we've created this comprehensive checklist to gather all the necessary documents before your tax appointment. By having everything ready, you can maximize your deductions, avoid delays, and ensure accurate filing status.
Personal Information
- Social security numbers (SSNs) for yourself, spouse (if applicable), and dependents
- Date of birth for yourself, your spouse (if applicable), and your dependents
- Driver's License or Statue ID for taxpayer and spouse (if filing jointly)
Income Documents
- W-2 forms from all employers
- 1099 forms including:
- 1099-NEC (non-employee compensation for freelancers/contractors)
- 1099-MISC (miscellaneous income)
- 1099-INT (interest income)
- 1099-DIV (dividends and distributions)
- 1099-R (retirement income)
- 1099-B (brokerage and stock sales)
- 1099-G (unemployment compensation or state tax refunds)
- 1099-K (payments from third-party networks like PayPal, Cash app, etc.)
- Self-Employment Income (records of income and expenses, profit/loss statement)
- Alimony received (if applicable, include the date of divorce agreement)
- Social Security Benefits statement (SSA-1099)
- Rental property income and expenses (if applicable)
- Gambling and lottery winnings/losses
Deductions and Credits
- Mortgage interest statement (Form 1098)
- Property tax receipts
- Charitable donations (cash and non-cash with receipts)
- Medical and dental expenses (if itemizing deductions)
- Student loan interest statement (Form 1098-E)
- Education expenses (Form 1098-T, tuition statement)
- Childcare expenses (provider's name, address, tax ID, and amount paid)
- Retirment contributions (IRA, 401(k), etc.)
- Health Savings Account (HSA) contributions (Form 5498-SA)
- Energy-efficient home improvement receipts (for potential tax credits)
Business Owners & Self-Employed Individuals
- Profit and loss statement or income and expense report
- Business-use asset receipts (for equipment, furniture, etc.)
- Mileage Log (for business vehicle usage)
- Home office expenses (if applicable, include utilities, internet, rent/mortgage
- Business licenses, permits and professional memberships.
Investment Information
- Statements from investment accounts (showing contributions, dividends, sales)
- Cryptocurrency transactions (records of purchases, sales, exchanges)
- Retirement account withdrawals (IRA, 401(k), pension distributions)