Tax Preparation Checklist
SUPREME TAX & BUSINESS SOLUTIONS LLC
Tax Preparation Checklist
At Supreme Tax & Business Solutions LLC we make preparing taxes easier every year with our handy tax preparation checklist. We’ll list everything you need to know to get your tax documents in order. Tax time can be stressful, but we’re here to help every step of the way.
Individual Tax prep Checklist
- Prior years income tax if you are a new client
- Social Security cards and Birth Certificates for yourself, spouse and dependents
- Dependent care, Name, Address, Tax ID or social security number
- Bank router and account number information if Direct Deposit Required
Forms/Data Required
- Wages (W-2 form), unemployment (1099G), Social Security Income (SSA-1099)
- Gambling/Lottery Winnings and Losses/Prizes/Bonus (W2-G)
- Interest and/or Dividend Income
- Pension/Annuity/Stock or Bond Sales
- Alimony
- Self-Employed income
- Foreign Income
Expense Data Required
- Health Insurance Market Place Statement (1095-A)
- Dependent Care Expenses
- Education/Tuition Costs/Materials Purchased form (1098T)
- Out of pocket Medical/Prescription/Dental Expenses
- Mortgage form (1098)/Home Equity Loan Interest/Mortgage Insurance
- Employment Related Expenses
- Investment Expenses
- Estimated Tax Payments to Federal and State Government and Dates Paid
- Personal & Rental Property Taxes
- Charitable Contributions Cash/Non-Cash
- Purchase qualifying for Residential Energy Credit
- IRA Contributions/Retirement Contributions
- Home Purchase
Small Business Tax Checklist
Income
- Gross income from sales or services and/or all other income
- Business Interest Statements (1099-INT)
Cost of Goods Sold (if applicable)
- Inventory
- Beginning inventory total dollar amount, Inventory purchases, ending inventory total dollar amount
- Items removed for personal purposes
- Materials & Supplies
Expenses
- Advertising, marketing or promotions
- Business Insurance
- Bank fees, credit card fees or merchant fees
- Estimated tax payments made
- Phone, computer & internet expenses
- Professional fees – Accountant, Consultants, Lawyers
- Office supplies
- Rent & utility expenses
- Transportation & travel related expenses
- Business trip mileage log, log or receipts for transportation, parking, tolls, airfare, hotel, meals, taxi, tips
- Wages & commissions paid to employees or Contractors (Form 1096 or 1099-MISC, form W-2 & W-3)
- Federal and state payroll returns (Form 940 & 941, etc.)
- Repairs, maintenance of office facility, etc
- Other business related expenses
- Any questions you may have about this year or previous year returns – we’re here to help!
