Bring all of your income and financial forms, plus documents related to any major life changes and potential deductions.

For a smooth appointment, focus on gathering documents in three main categories: personal information, income, and expenses. Your personal data includes your Social Security numbers and dates of birth for everyone on the return, as well as your Identity Protection PIN if the IRS issued you one. Income documents include your W-2 for wages and all Forms 1099 for other types of income. You’ll also need documents for expenses and credits. A copy of your most recent tax return is also very helpful.

Think about the year in terms of your income, expenses, and any significant life events, and then organize your documents based on that.

Start by sorting your financial papers. Look for all documents with a tax form number (like a W-2 or a 1099) and set them aside. Next, think about any major changes in your life. Did you get a new job, get married, have a child, buy your own Bay County home, or start a side business? These will require specific documentation. 

And an even better way to prepare? Year-round tax planning. That way, if you’re planning any big moves like these, Brickey Tax Service LLC can talk you through the tax angles and spot more opportunities for savings.

The main thing you need is a complete record of your income and all of your business expenses. 

You might receive Forms 1099-NEC or 1099-K, which report your income. But you must report all of your earnings, even for cash or direct electronic payments that weren’t reported to the IRS. The key is to have a good system for tracking your expenses. Every dollar you spend on your Bay County business (from a new computer to a gallon of gas) can potentially lower your tax bill.

The two most important documents you need are the Form 1098 from your mortgage lender and your settlement statement from when you closed on the house.

The 1098 shows how much mortgage interest you paid, which is a big deduction for many Bay County homeowners. The settlement statement will detail all the fees you paid at closing, which can also include deductible items like real estate taxes and “points.”

You need a record of all your crypto transactions for the year. 

The IRS sees crypto more like a valuable collectible than a currency. So every time you sell, trade, or use it, it’s a taxable event. You need documentation with details showing when you got it, what you paid for it, and when you got rid of it (and for what price). While some exchanges may give you a tax form, it’s your responsibility to have a detailed transaction history.

For each qualifying child, we’ll just need their Social Security number and their date of birth. 

We’d also need to confirm your child meets the other qualifying rules: The child must have a valid Social Security number and be under a certain age at the end of the tax year. The child must also be your son, daughter, stepchild, foster child, sibling, or a descendant of one of those relatives. For residency, the child must have lived with you for more than half the year. There are some exceptions for temporary absences (like school or vacation). You also must have provided more than half of the child’s support for the year.

Think of your rental property like a small business: to report it accurately, you need a complete record of all your income and expenses. 

On the income side, you’ll need a record of all rent payments you received. On the expense side, you should have all your receipts and documentation for every cost related to the property. This includes things like mortgage interest, property taxes, insurance, and money spent on repairs or maintenance.