Tax Prep

by astanhaus

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April 15, 2014. Tax Day. It’s next week. It’s looming on our calendars. Uncle Sam doesn’t like to hear that the dog ate our tax returns, so we better power through this weekend.

While I’m not a tax professional, I do have experience filling out my own taxes thanks toTurboTax.

Here are some things to have at the ready when it’s tax time:

Forms

Did someone go out of his or her way to give us a tax form with info? We should thank them! These are très important. If we were given a tax form, most likely there is a reason and we’ll need it.

This includes:

  • W-2 Form for Employment.
  • 1099 and/or K-1s for Investments.
  • 1098-E and/or 1098-T for Education.

Here is an overly comprehensive list from TurboTax.

Receipts

Any major purchases or donations this year? TurboTax will ask us about every tax deduction under the sun. Receipts are helpful to have on hand as proof.

Bank Info

What was that password again? Remembering all of our e-banking accounts (including investment accounts) and passwords makes the tax filing process go at hyper-speed. Why? We can link accounts with TurboTax and *poof* our info populates the form.

Happy Tax Season!

(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

 

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