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For many, filing taxes is considered time consuming and stressful. We get it—there are lots of forms and information you need to account for before beginning the process. What’s the surest way to make filing your personal taxes a breeze? Get organized. We’ve put together a list of questions to ask yourself before sitting down to file. We hope this eases your tax filing woes and helps you expedite the process.Checklist Icon

PERSONAL

Did you have any life changing events in 2016? This includes moving, marriage, birth of a child etc.
You will need their legal name, birthdate, and SSN.
Did you have health insurance coverage for the entirety of 2016?
You will need to provide form 1095-A
Did you accrue child care costs throughout 2016?
You will need to provide the facility’s yearly pay summary along with their tax ID (FEIN)
Did you make any personal donations in 2016?
You will need to provide corresponding receipts
Did you contribute to an IRA (outside of a business, 529 Plan, or Health Savings Account (HSA) in 2016?
You will need to submit appropriate documentation
Did you pay auto property tax payments in 2016?
You will need to provide corresponding receipts
Did you make online purchase in 2016? Sales tax is not paid on internet purchases (this is typically received from vendors like Amazon in an email).
You will need to provide the total amount spent
Did you pay college tuition fees in 2016?
You will need to provide Form 1098-T
Did you file personal tax returns (federal and state) for 2015 and 2014?
You will need to provide these filings
If Accountfully filed your taxes in prior years, we have those records.
Did you receive 1099 statements from banks or financial service companies?
You will need to provide these forms
Did you receive year-end brokerage statements from your investment accounts?
You will need to provide these statements
Did you make any estimated tax payments throughout 2016 (between federal and state)?
You will need to provide the details of these payments

HOME

Do you have a mortgage?
You will need to provide your mortgage interest statement
Did you pay property taxes?
You will need to provide property tax payments
Did you buy a house?
You will need to provide documentation around the sale of your home. This includes HUD, closing statements, and original purchase documentation
Do you have an investment property?
You will need to provide the physical address
You will need to provide all revenue (rent)
You will need to provide all expenses related to that property (mortgage statement, property statement, repairs, maintenance, utilities, cleaning costs etc)
Did you have you any cancellation of debt or mortgage during 2016?
You will need to provide your Form 1099-C

WORK

Did you have an employer, or multiple employers throughout 2016?
You will need to provide each Form W2 you received
Did you incur any business related costs in 2016 that were not reimbursed to you through your employer?
You will need to provide details of each
Did you do contract work or freelance work throughout 2016?
You will need to provide each Form 1099
Did you operate a side business in 2016 that you’ll need to claim on your taxes?
You will need to provide all legal details (name, address, and FEIN of the business)
You will need to provide all revenue and direct expenses for the business

Accountfully offers personal tax planning and filing services to its clients. It’s just another perk of working with an outsourced firm that handles all your business’s bookkeeping and accounting needs.

Looking to learn more about tax prep? Download our guide!

Tax Checklist