Preparing your taxes

To prepare for your taxes, you will need to gather the following information and documentation:

Income Documentation: This includes W-2 forms from your employer, 1099 forms for any freelance or contract work, and any other documentation of income received during the year.
Receipts for Deductions: This includes receipts for things like medical expenses, charitable donations, mortgage interest, and property taxes.
Social Security Number: Your Social Security number is required for tax purposes, so make sure you have this on hand.
Bank Account Information: If you are choosing to have your tax refund directly deposited into your bank account, you will need to provide your bank account information.
Previous Year’s Tax Return: Your previous year’s tax return can be useful as a reference when preparing your current year’s taxes.
Tax Software or Professional Tax Preparer: You can choose to prepare your taxes yourself using tax software or you can work with a professional tax preparer. If you have a complex tax situation, it may be best to work with a professional.
It is important to note that this list is not exhaustive and the specific information you will need may vary depending on your individual tax situation. It is always a good idea to check the latest tax laws and guidelines to ensure that you have all the information you need to prepare your taxes accurately.

About the Author

Picture of Amy Novakovich, CFP®, CRPC®

Amy Novakovich, CFP®, CRPC®

Amy is a Co-Founder of Nova Wealth Management. She is a native of Wisconsin and moved to Florida in 2004. She earned a degree in finance from Florida Gulf Coast University. Amy is a CERTIFIED FINANCIAL PLANNER™ professional (CFP®) and a Chartered Retirement Planning Counselor® (CRPC®).