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Tax Preparation Checklist

Individuals

PERSONAL INFORMATION

  • Your social security number or tax ID number

  • Your spouse’s full name, social security number or tax ID number, and date of birth

  • Identity Protection PIN, if one has been issued to you, your spouse, or your dependent by the IRS

  • Routing and account numbers to receive your refund by direct deposit or pay your balance due if you choose

SOURCE OF INCOME

  • Forms W-2

  • Unemployment (1099-G)

  • Forms 1099, Schedules K-1, income records to verify amounts not reported on 1099-MISC or 1099-NEC

  • Records of all expenses — check registers or credit card statements, and receipts

  • Business-use asset information (cost, date placed in service, etc.) for depreciation

  • Office in-home information, if applicable

  • Record of estimated tax payments made (1040–ES)

  • Rental Income

  • Retirement Income

  • Savings & Investments or Dividends

  • Income from sales of stock or other property (1099-B, 1099-S)

OTHER INFORMATION

  • Foreign bank account information: Location, bank institutions name, account number, the peak value of the account during the year

  • Foreign tax paid

  • Foreign Income

  • Marketplace Health Insurance Form ( 1095-A )

DEPENDENT INFORMATION

  • Dates of birth and social security numbers or tax ID numbers

  • Childcare records (including the provider's tax ID number) if applicable

  • Income of dependents and of other adults in your home

  • Form 8332 showing that the child’s custodial parent is releasing their right to claim a child to you, the noncustodial parent (if applicable)

TYPE OF DEDUCTIONS

  • Home Ownership

  • Charitable Donations

  • Medical Expenses

  • Health Insurance premiums paid

  • Childcare Expenses

  • Education Expenses 1098-T

  • K-12 Educator Expenses

  • State and Local Taxes

  • Retirement & Other Savings

  • Federally Declared Disaster

Tax Preparation Checklist

Business

GENERAL INFORMATION

  • Copy of the business tax return 2022

  • Employer identification number (EIN).

  • Member or Stockholder information (SS#, name, current address, % ownership, telephone, email address)

INCOME

  • Gross receipts from sales or services.

  • Sales records for accrual-based taxpayers (accounts receivable)

  • Returns and allowances

  • Business checking/savings account interest (1099-INT or statement)

  • Other income, including rental income, federal and state gasoline or fuel tax credit or refund

OTHER INFORMATION

  • Repairs, maintenance of office facility, etc.

  • Estimated tax payments made

  • Other business-related expenses

  • Health insurance

REPORTS INFORMATION

  • Balance Sheet

  • Profit and loss

  • Sales Tax Summary

  • Payroll summary

  • Schedule of depreciation

COST OF GOOD SOLD

  • Beginning inventory total dollar amount

  • Inventory purchases

  • Ending inventory total dollar amount

  • Items removed for personal purposes

  • Materials and supplies

EXPENSES

  • Advertising

  • Phones

  • Computer & Internet expenses

  • Transportation and travel expenses

  • Depreciation

  • Commissions and fees

  • Contract labor expenses paid to subcontractors and independent contractors

  • Amortization of intangible assets

  • Business Insurance

  • Interest expense

  • Professional fees

  • Office Supplies

  • Rent expense

  • Office-in-home

  • Wages paid to employees

  • Employee benefits expenses

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