Blog Posts

Get Ready For Tax Time

The new year means it’s time to make your resolutions. But it also means another tax season is here. Take time in January to get organized to make tax filing smooth for you and your tax professional.

ORGANIZE YOUR FORMS

You’ll receive the bulk of your tax forms by January 31. But if you believe you’re missing one, contact the appropriate company to request a copy.

BUNDLE IT UP

Along with tax forms, you’ll want to get other financial documents and information together before meeting with your tax professional. Consider if you have:

  • Business financial statements
  • Names, dates of birth, and Social Security numbers for any new dependents
  • Educational expenses
  • Child care
  • Gifts received or given
  • Retirement plan contributions
  • Severance pay
  • Foreign assets
  • Rental income
  • Medical expenses
  • Estimated payments in 2022

Most tax professionals will provide you with their tax organizer that will walk you through all tax areas that may apply to you, so you don’t overlook anything.

source: https://e.clientlinenewsletter.com/mcmillcpasandadvisors

Leann

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