Organizing for Tax Filing Season

Organizing for Tax Filing Season

Organizing for Tax Filing Season

What is the Money Date? A weekly time to check in. 3 things we review and update: 1. Spending 2. Earning 3. Savings

Let’s get organized. We all know that IRS demands certain information from all us and it can be frustrating and overwhelming. But it doesn’t have to be. The key to success is proper planning ahead of time.  All the IRS wants to know if who much money you’ve made so they can collect the taxes you owe. That’s it!

Here are a few documents you will be required to gather. Get on it now!

  • Identifying information (social security numbers or ID numbers). Do you have dependents: your kids, parents, etc.? You’ll need their information too.
  • Collect all documents/statements that provide your income (W2, 1099s). If you are self-employed, you need to gather all your business-related expenses: miles driven on the car, equipment bought, supplies bought, and utilities paid.
  • Investment and savings account earnings (1099s). Not retirement accounts. You should have 1099-INT or 1099-Div forms that show how much interest you earned.

Qualifying questions to ask to gather further data:

  • Do you own a home? Get your Form 1098
  • Real estate taxes paid?
  • State and local taxes?
  • Personal property taxes?
  • Did you make any donations? $250 or more needs to have a receipt
  • Did you have medical expenses?
  • Student loan interest?
  • Investment management fees (last time in 2017)?

This is a good start! Good luck! You are well prepared to get your tax return completed this year.



Anna Sergunina
Anna Sergunina

I'm Anna Sergunina, CFP®, President & CEO at MainStreet Financial Planning, Inc. My passion lies in serving others through financial planning, helping clients achieve their dreams like buying a home, saving for education, or retiring early. With over two decades in the industry and a CFP designation since 2009, I'm dedicated to excellence and continuous growth. Beyond work, I cherish moments with my son Liam, prioritize self-care, and engage in content creation for my Money Boss Parent Podcast and Money Library blog.

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