Tax Filing Checklist: What You Need Before You File
Filing your taxes can feel overwhelming, but having all the necessary documents and information ready can make the process smooth and stress-free. Whether you're filing as an individual or a business owner, this tax filing checklist will ensure you’re prepared.
1. Gather Your Personal Information
Before starting your tax return, make sure you have:
Social Security Number (SSN) or Taxpayer Identification Number (TIN)
Spouse and Dependents’ SSNs (if applicable)
Bank Account and Routing Number (for direct deposit of refunds)
Last Year’s Tax Return (to reference prior deductions and credits)
2. Collect Income Documents
Income documents are essential for reporting your earnings. Depending on your sources of income, you may need:
W-2 Forms (if employed)
1099 Forms (for contract work, freelance, or side gigs)
Self-Employment Income Records (invoices, payment records, or business income reports)
Investment Income Documents (1099-INT, 1099-DIV, 1099-B for stocks, dividends, and interest earnings)
Retirement Income Forms (1099-R, SSA-1099 for Social Security benefits)
Rental Income Records (if you own rental property)
3. Organize Your Deduction and Credit Documents
Deductions and credits can significantly lower your taxable income. Have records for:
Education Expenses (1098-T for tuition payments, student loan interest)
Medical and Dental Expenses (if itemizing deductions)
Mortgage Interest and Property Taxes (1098 form)
Charitable Contributions (receipts for donations)
Childcare Costs (including provider details and payments made)
State and Local Taxes Paid (including estimated tax payments)
4. Prepare Business and Self-Employment Records
If you’re self-employed or own a business, additional documents are necessary:
Profit and Loss Statement (record of income and expenses)
Business Expense Receipts (supplies, travel, advertising, office space)
Mileage Log (if claiming vehicle expenses)
1099 Forms Issued to Contractors
Home Office Deduction Records
5. Review Your Estimated Tax Payments
If you made quarterly estimated tax payments throughout the year, ensure you have records of:
IRS and state estimated tax payments
Any prior year overpayments applied to this year’s taxes
6. Verify Any Additional Forms for Special Circumstances
Some situations require extra forms, including:
HSA Contributions (Form 5498-SA)
Foreign Account Reporting (FBAR, FATCA compliance)
Adoption Tax Credit (Form 8839)
Energy-Efficient Home Improvement Credits
Need help? Check out the Self-Employment 101 course to get a deeper understanding of your self-employment taxes!
If you aren't ready to commit to the course yet, be sure to check out the free self-employment mini course.
