Getting ready to do your taxes?
Can’t remember what to bring?
Feeling overwhelmed?
Don’t worry, we’re here to lighten the load. We created a handy tax preparation checklist to help you bring the right documents. Before you head over, check the checklist, and know that this is making the process quick & painless.
W-2 forms, 1099 forms, and other tax documents are a must-have with you. A good idea is to bring a copy of last year’s tax return and any updates to your finances (like having a baby or getting married). This will speed up filing your tax return.
Sit back, relax, and know we’ve got this! Grab all the documents you need and we will take care of the rest. M&M Tax will make sure your taxes get done right with no extra stress. We’re looking forward to helping you cross taxes off your to-do list.
You will need to provide certain information in order to file your return as it relates to your household whether that be a household of one (not considered a head of house), a single parent home, or married couples. It is important to remember that your household affects standard deductions, your deductible, credits you can apply for and how much of those credits you are eligible for.
When filing taxes, it is essential to make sure that you have all the required information in order, this includes:
As parents and caregivers are preparing to file their taxes, they should make sure that they have collected the following information:
Basic income information is the documentation that employers send the government to report income. It is through this common proof that they determine who may owe taxes and needs to file taxes. Even if you didn’t earn a steady income, report any amounts to the IRS on your tax return.
Earned Income is classified in multiple ways and not always considered taxable across the board. Consult with your tax professional if you are curious about what income is taxable. Talking with a tax professional will help save you money.
Here are some of the most common types of income:
Income that you worked for is considered earned, whether that be from an employer or if you are self employed, running a side hustle, or are considered a small business owner.
Income that you gained passively typically these are thing like investments, retirement distributions, or benefits.
Small business owners, the self-employed, and people running a side hustle are able to deduct expenses against that income.
Depending on your unique life circumstances, the deductions you can take may differ. Not all the paperwork listed below will be necessary for filing taxes. Many times, people are eligible only for the standard deduction where a lot of these forms would help with your deductible.
Are you looking for relief from the damages caused by a natural disaster?
To find out if they have declared your county as a federal emergency zone, check FEMA’s website. Keep in mind, to get help and or reimbursement funds, you must provide records such as appraisals of property losses incurred during the incident or costs associated with rebuilding and repairs. Also include any insurance reimbursements received because of claims filed following the event, along with details related to aid provided by FEMA.
Whether you’re filing your taxes or using a tax preparer, it pays to prepare. Having a tax preparation checklist is key to a smooth tax season. Enjoy the peace of mind of gathering your tax documents.
Taking the time to organize leads to a faster and more accurate tax filing process. Don’t wait, get your tax preparation checklist and get organized. Trust us, it will save you time and stress in the long run.
With over 30+ locations in South Carolina, there is a M&M Tax Service that is convenient for you.
Get a head start on the income tax season rush. Set up an appointment with a M&M Tax professional today.
Filing taxes online has never been easier. We will match you with a tax pro who is right for you and your needs.
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*Tax preparation starts at $99 after using $50 off coupon. Tax preparation charges are based on the complexity of your tax return and the risk associated with preparing your tax return. Electronic filing, a single state tax return and Obamacare tax forms are included for free with paid federal tax preparation.
¹ To be eligible for the $6,000 loan amount, your expected Federal refund less authorized fees must be at least $7,000. An Easy Advance (EA) is a loan secured by and paid back with your tax refund and is offered by Republic Bank & Trust Company, Member FDIC, to eligible taxpayers. Loan amount options are based on your expected Federal refund less authorized fees. If approved for an EA, a Finance Charge will apply. Loan is subject to underwriting and approval. EA proceeds are typically available within 24 hours of IRS acceptance of tax return or within 24 hours for those filing before the IRS start date; however, if direct deposit is selected, it may take additional time for your financial institution to post the funds to your account. Visit your tax preparer to learn about the cost and timing of all filing and product options. Available with preparation of 2022 federal tax return through Feb. 28, 2023.
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