Tax season can be a stressful and overwhelming time for many individuals. However, with a little bit of preparation, you can make the process much smoother. Here are 5 helpful tips to gather all the information you need to file your taxes:
- Social Security Numbers – Gather Social Security Numbers for yourself, your spouse, and any dependents on hand and double-check that they are correct.
- Last Year’s Taxes – Federal and state returns from the previous year can serve as a great frame of reference for filing out this year’s taxes.
- W-2 Forms – A W-2 shows the amount of money earned for the tax year, as well as any taxes withheld from your paycheck. If you are missing a W-2 from your employer, contact them sooner rather than later.
- 1099 Forms – A form 1099 is used to report any additional income not received from a traditional employer. These forms are just as important to report as W-2s.
- Receipts for Deductions and Credits – Obtain copies of all receipts for any deductions and/or credits that you are claiming.
Preparing for tax season can be a daunting task, but with a little bit of preparation and organization, it doesn’t have to be. Everyone’s situation is different; it’s best to always reach out to a credentialed tax professional who can guide you through the filing process. At PBK services, we aim to assist you no matter your situation, with expert guidance and compliance with tax laws.
