Tax preparation tips
for those across Anderson, sc beyond

Meeting with an income tax accountant for the first time can be a valuable step towards streamlining your tax experience and achieving total peace of mind. To make the most of our initial consultation, you’ll want to come prepared. Our office can answer any specific questions you might have about what you might want to bring, but here are some ways you can get started on your own:

Gather Relevant Documents: Our income tax consultant will want to look at your financial information to get an idea of your situation. To help us work more efficiently, collect all relevant documents related to your income, deductions, and expenses. This may include W-2 forms, 1099 forms, previous tax records, mortgage interest statements, investment statements, student loan interest statements, property tax records, medical expense receipts, and any other relevant financial documents.

Organize Financial Records: As you gather your documents, make sure that they are well-organized and easily accessible before your consultation. This helps save time during your appointment and helps give us an accurate idea of your financial situation.

Make a List: Gather any information you think we should know about, including information about major life events such as marriage, divorce, new children, or significant changes in employment. This helps us identify any deductions or exemptions that might apply to you.

Prepare Questions: Do you have any questions you would like to ask your accountant? Start a list before your consultation so you remember everything you want to discuss. This could include inquiries about specific deductions, tax planning strategies, or any concerns you may have about your financial situation. Having questions ready will help you make the most of your consultation.

Review Previous Tax Returns: It’s a good idea to review your tax returns from previous years to familiarize yourself with your financial history. This can help you notice any recurring patterns or potential areas of concern that you can discuss with our tax consultant during your meeting. Make note of any changes to your financial circumstances since the last time you filed.

The documents you’ll need to prepare your income taxes will depend on your individual circumstances. Our professional tax preparers can help you determine exactly what you need to bring so that we can work as quickly and efficiently as possible, but if you’d like some help getting started in advance, we are here to help. Here are some of the things you’ll need to help us with our income tax preparation service:

Personal Information: You will need identifying information to ensure that your taxes are accurately filed. All taxpayers will need to include their social security number or tax ID number, their spouse’s identifying information, any applicable identity protection PINS, your bank routing and account numbers, and foreign or residency information if it applies.

Information About Your Dependents: If you are a parent or caregiver, you’ll need to offer names, dates of birth, and social security or tax ID numbers for any children in your care. You’ll also want to include income information of any dependents or other adults in your home. If applicable, you’ll need Form 8332 showing that the child’s custodial parent is releasing their right to claim a child to you.

Sources of Income: This information might change from year to year depending on your circumstances, but you’ll want to include any forms that report sources of income. These can come from jobs, retirement income, rental properties, savings and investments, alimony, royalties, and more. We can review your situation with you and offer further information on which forms we’ll need.

Deduction Information: The types of deductions you can take will depend on your situation. Some common deductions can be related to home or vehicle ownership, charitable donations, educational expenses, childcare costs, medical expenses, and savings contributions. Our office can offer more personalized advice depending on your circumstances.