5 Things to Prepare for Your Accountant

Yes, tax season is here and the time to file your taxes. Preparing for your taxes is easier than you think, especially if you have the right team of CPAs (Certified Public Accountants) on your side. If you undertake doing your own taxes, it can become complicated and that is where mistakes are made.

5 Things to Prepare for Your Accountant:

1. Identification Number - It is important to bring your identification number with you so that your accountant can identify you personally and your business. These documents are extremely important to bring as they will help guide your accountant on specific tax codes per your business entity.

2. Copy of Your Most Recent Tax Return - When you file your taxes for the previous year, you probably won't have the same deductions or write-offs as you had from previous years. Your past tax returns will help your accountant identify new or previous deductions without having to constantly be in contact with your account. This will help smooth out the overall process.

3. Wage Statements - If you are an “employee” you will receive your W-2 form from the company and/or companies you worked for. If you are a freelancer or registered business, you should receive your 1099-MISC from each client you worked with throughout the year.

4. Additional Income Statements - Other than primary income, did you receive additional income from items such as interest, dividends, investments, unemployment or social security? If you did, these are also documents that you want to give to your accountant.

5. Proof of Expenses - This might sound painful, but make sure you bring your receipts (in an organized way) to your accountant so that you have proof that the actual expenses were actually made. You can ask your accountant what type of expenses you will want to be on the look for while getting all of your finances ready for your accountant.

If you are looking for an accountant for yourself or your business, we can help you. INTEGRATED CPA can help you not just during tax season but throughout the year. Providing your business with strategy, research, planning and consulting for your company needs.

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