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What Information do you need for your tax preparation

News & Blog

The first piece of information you need to start preparing your tax return is the total amount of income you earned during the year. Any employer who pays you a salary must send you a Form W-2 each year, which reports your annual income and the amount of taxes withheld.

Independent contractors typically receive income reports on Form 1099-MISC. If you are the sole owner of a business, then you are responsible for collecting all the information regarding the profits and losses of your business.

Now follow the previous tax payments, subsequent, reporting deductions and credits, and finally, Interest and dividend income. Do you require this information in detail?

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