Preparing for Tax Services in Maple Valley will help individuals to ensure they have all of the documents and information their tax preparer will need. Being prepared will help individuals to avoid wasted time so their taxes can be properly prepared as efficiently as possible.
Steps to Take Before Tax Preparation
There are a few different steps individuals will need to take before they seek Tax Services in Maple Valley. Taking the following steps will help to ensure all of the proper information and documents are provided to the tax professional.
It is imperative the individual finds all of the necessary documents the tax preparer will need to prepare the tax forms and file them. Most of these forms should have been mailed to the individual by the end of January. The following forms should be gathered if they are applicable.
- All W-2s
- Form SSA-1099
- Any 1099s
- Form 1095-A
- 1098 forms
- Form W-2G
- Schedule K-1s
It is also imperative the individual gathers all of their business receipts because these will be used by the tax preparer to see if any deductions are available. An individual will need to decide if they want to claim the standard deduction or want to itemize their deductions. A tax preparer can help with this decision because they can run totals on both options to see which will offer the biggest deduction.
If an individual operates a business, they will need to be prepared to file a Schedule C form for profit and loss. They will need to bring in their bookkeeping records to ensure the tax professional will be able to use this information to properly prepare their tax returns for filing.
Hire a Professional
Although it may be tempting to try and prepare the tax forms without professional help, this is not recommended. Individuals will likely find their lack of knowledge on key tax codes can cause them to end up owing more than they should. Making mistakes can be costly so it is important individuals rely on the professionals to help them.
If you are in need of these services, call today to get started. A tax professional will help you every step of the way.
