What to Provide the Accountant Preparing Your Tax Return

At the end of the year, many people begin to think about tax preparation. The tax deadline is still months away, but many people prefer to get it filed as quickly as possible. However, that means determining exactly what you should bring to your tax professional. The good news is that certain documents are required, and we can provide some insight onto what those are.

The first thing you need to have is some sort of identification. You need to be able to verify that you are who you state you are. You can often use your social security card, as this number will be needed by the accountant to file your taxes anyway. In addition to your social security card, you should also bring a second type of identification like a driver’s license or military identification.

Next up, you want to bring the accountant your most recent tax return. You may not qualify for all of the same tax deductions this year as last year, but it gives your accountant a way to look your information and determine certain things without having to ask you a million questions. If you are visiting a new accountant, this is the time to also talk about any discrepancies between previous tax returns and how to approach that situation.

You will also want to bring any wage statements that you have in. If you’re employed, this will be a W-2. If you are a freelancer or independent consultant, this will be a Form-1099 MISC from each client. Make sure you have all of these papers together, so your accountant has a full idea of your wages from the year.

If you made any other income through the year, you should also bring any statements you have regarding it. This might include social security income, unemployment income, or income from investments. Each will have statements you can provide to your accountant.

Finally, if you have real estate holdings, you should also bring any documents related to these like mortgage papers or loan interest papers. You should also bring in any proof of expenses that you might have. This includes receipts, medical bills, mileage logs, and more.

If you are looking for a professional firm to take care of your tax preparation in Indianapolis, get in contact with OnTarget CPA. You can find out more about them or ask questions by calling 317-286-6790.

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