Conquer Tax Season: Essential Documents You Need

    Tax season can be daunting, but with good organization, it doesn’t have to be. Build ‘Em Up Bookkeeping has some tips to ease some of the seasonal stress. The first step to a smooth filing process is gathering all the necessary documents. Here’s a breakdown of the key things you’ll likely need, categorized for easy reference:


    • W-2 forms: These forms, provided by employers, detail your wages, salaries, and withheld taxes for the year.
    • 1099 forms: These come in various types, reporting income received outside of regular employment, like freelance work, dividends, or interest payments.
    • Investment statements: If you have a brokerage account, these statements will detail your investment income, including capital gains or losses.

    Deductions and Credits:

    • Receipts: Keep receipts for qualifying expenses, such as charitable donations, medical bills exceeding a certain threshold, or home improvement costs related to energy efficiency.
    • Education documents: If you paid for tuition or student loan interest, you may be eligible for education credits. Save relevant documents like tuition statements and loan interest payment receipts.

    Other Important Documents:

    • Previous year’s tax return: Referencing your previous return can help ensure accuracy and consistency in your filing.
    • Social Security numbers: You’ll need yours and your dependents’ Social Security numbers for filing.
    • Proof of health insurance: This might be required depending on your situation.

    Remember: This isn’t an exhaustive list. For specific circumstances, consult a tax professional. Build ‘Em Up Bookeeping is here to answer these case by case questions.

    Pro Tip: Utilize secure digital storage solutions for electronic copies of these documents. Consider using a physical folder system for paper copies.

    By gathering these documents early on, you’ll be well on your way to a stress-free tax filing experience. In our next article, we’ll delve into the ever-evolving world of tax filing options!

    Build Em Up Bookkeeping is Fremont County’s go to virtual tax preparer. Established in 2010 and virtual since 2016, Build Em Up Bookkeeping has the experience to serve all your tax needs. Contact Build Em Up Bookkeeping in Riverton today and experience the convenience and peace of mind that comes with having your taxes handled by a professional. Call 307-207-2772 or visit their website here to learn more and schedule your free consultation.

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