TAX PREPARATION

Tax season is coming, and you know what that means. You are going to want to get your taxes in order.

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Preparing Your Documents for the IRS

Tax preparation is the process of gathering your financial information and using it to file your taxes. Tax preparation is a particularly important part of being a citizen in the United States, and it is something that every adult should know how to do.

If you have been paying your taxes for years, you should know that there are many deductions available to you. If you do not take advantage of these deductions, then you will be missing out on quite a bit of money that could be going into your pocket!

When you hire a tax preparer, they will help you navigate the confusing world of tax laws and make sure that you are not missing out on any deductions or credits. They will also do all of the math for you so that you can rest easy knowing that your taxes are done correctly—and on time!

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What to Bring to Your Tax Preparation Appointment

Gather the following before your tax appointment:

  • 1099 forms (showing miscellaneous income or income from interest payments)
  • W2 documents
  • Mortgage records
  • Properties or assets tax receipts
  • Student loan data
  • An inventory of taxable income (or any bank statements, credit card statements or receipts showing business or professional development expenses)
  • Receipts for donations to charities
  • University/school fees 
  • Childcare invoices
  • Social Security papers for minors
  • Tax returns from the prior year
  • Sales and purchases of stock

It is important that you come prepared for your appointment with the IRS by making sure you have everything on hand—we don’t want to be late for our appointment with Uncle Sam.