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What to Prepare for Your Tax Prep Professional

What to Prepare for Your Tax Prep Professional

February 27, 2018

Doing your taxes doesn’t have to be a chore. In fact, with a little prep each month leading up to your taxes, you can have everything you need ready for a tax preparer to complete this task for you. See the list of paperwork you need to get together to prepare for filing and have your taxes done in a flash with your trusted tax prep professionals. 

Why Do As Much Prep Work as Possible 

Employing a smartphone app to help you keep track of certain qualifying expenses and charitable contributions significantly improves your tax filing experience. It makes your tax preparer’s job simpler as well. Better organization helps ensure that your tax return is accurate and takes less time. If you are entitled to a refund, that means your money could be in your hands sooner.

What to Take to Your Tax Preparer

  • W-2: These forms are typically received during the month of January if you have a traditional job. Each individual employer you work for must complete a summary of your income received and taxes paid from the previous year.
  • SSA-1099: If you received Social Security benefits in 2017, you will receive a similar form to the W-2 highlighting your annual income from social security and the fees that were taken out of it for health insurance or other accounts.
  • 1099: There are several different 1099 forms, due to their versatility in reporting miscellaneous incomes. These can be from interest, retirement funds, dividends, tournament prize money, rent, and non-employee compensations, just to name a few.
  • Receipts: Putting together receipts for deductible expenses, such as business- and investment-related expenditures, property taxes, or uninsured health care costs allow your tax preparer to figure out if you can save more money with the standard deduction or an itemized list.
  • Charitable Contributions: If you’ve made contributions to charities totaling $250 or more in 2017, you may be able to write off the donations. Be sure to include these receipts from the organization to show proof. 

Why Use a Professional for Tax Prep in Palm Beach Gardens

Tax preparation requires consideration of many forms, situations, receipts, and annual tax laws. Leaving this task to our professionals trained to locate as many opportunities to save you money frees up your time to maintain personal and business affairs without hassle or interruption. Call us today at 561-223-3252 to make your appointment, and beat the tax filing deadline on April 17th.