What You Need Before You File Your Taxes

What You Need Before You File Your Taxes

What You Need Before You File Your TaxesWhether you love it or hate it, here’s what you need before you file your taxes!

Tax season is not the most loved time of year, but tax preparation is non-negotiable. If you opt to see a tax professional or you decide that you’re good with numbers and can tackle it yourself, being prepared is imperative.

From gathering key documents to identifying deductible expenses, here’s everything you need!


  • Last year’s tax return – To file your tax return, your new tax accountant will need to see your previous return as you may qualify for some of the same deductibles or write-offs that you received from last year.
  • Wages statement – You should receive a W-2 from your employer outlining what you earned and paid in taxes for the year. If you’re self-employed or do freelance work, you should’ve received 1099 forms for income over a certain threshold.
  • Interest and dividend income – This includes 1099 forms reporting interest and dividend income for any bank or brokerage firm that you have accounts with now or within the prior year.

Identify deductible expenses:

When you take a deduction, it reduced the amount of income you have to be taxed on. Here’s a list of some expenses that you may be able to deduct:

  • Mortgage or home interest paid (Form 1098)
  • Real estate and personal property taxes paid
  • Charitable contributions
  • Student loan interest
  • Tuition and education fees
  • IRA contributions

In addition to to preparing your paperwork, have your logins, passwords, and thoughtful questions ready!

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