What to Bring when you prepare your Taxes
 

Personal Information 

  • A Social Security or tax ID number for everyone included on your tax return -You need your own number, but don’t forget your spouse and dependent’s (where applicable) as well. If someone doesn’t have a Social Security number, you’ll need their TIN instead. What’s this?
     
  • Last year’s state refund amount – If you itemize your deductions, then your state refund is considered income for tax purposes.
  • Other miscellaneous income records – This could include award money, gambling winnings, lottery pay-outs, etc.
  • Any (and all) Form 1099s – There are several different types of 1099. Some of the common ones include:
    • 1099-NEC if you are self-employed and received $600+ from a client 
    • 1099-DIV if you received dividends  
    • 1099-G if you received money or benefits from the government 
    • 1099-K if you made third-party transactions (through PayPal or Venmo, for example) 
    • 1099-R for distributions from a retirement plan, IRA, pension, annuity, etc. 
    • 1099-MISC if you have paid at least $600 in rent, prizes and awards, medical and healthcare payments, or other income payments. 
  • Self-Employment and Business Records (where applicable) 
  • Business expense records – 
    • Receipts,
    • Credit card statements,
    • Records of checks you’ve written, etc.
  • Quarterly estimated tax payment receipts – If you make installments to your tax bill during the year, the IRS (& your state) should send you a record of what you paid – similar to a receipt.
  • Mileage records – In order to get a deduction for your travel, you’ll need to know how many miles you drove for work purposes.
  • Home office expenses – You'll need to know how big your office is in square feet. If you decide to use the actual expense method, you’ll also need a record of your home-related expenses, like utilities and mortgage (or rent). Read more about the home office deduction.
  • Medical Expense Receipts and Records (subject to a 7.5%threshold)
  • Receipts for unreimbursed medical expenses – These could include exams, surgeries, and preventative care. It could also be braces, glasses, hearing aids, prescriptions – even transportation to and from treatment.
  • Form 1095: Health insurance coverage forms – If you are enrolled through the Marketplace, you’ll receive Form 1095-A. Insurance providers will send a 1095-B for individuals they cover. If your employer offers coverage, they should send you a 1095-C.
  • Social Security benefits – If you receive Social Security, you’ll receive an SSA-1099 in January showing the total amount of benefits you received for the year.
  • Charitable Donations 
  • Charitable donation receiptsf – If you are planning to take a tax deduction for the donations you made to charity, you’ll need to be able to back them up with receipts showing the date, value, and charitable organization.
  • Other Homeownership Info 
    • Property tax receipts – If you itemize your deductions, you could write off a portion of the property taxes you paid.

 

If you have any questions or concerns please do not hesitate to drop us an email to: Info@BrickTaxes.com.  For urgent issues please give us a call at 732-540-1040.