Start with your books
Tax preparation is only as good as the records behind it. Before collecting forms, make sure your bookkeeping is complete and reconciled through the end of the year.
Income records
- Year-end profit and loss statement
- Forms 1099 received from clients or payment platforms
- Bank deposit records that support total income
- Records of cash income
Expense records
- Categorized expense reports from your books
- Receipts for larger or unusual purchases
- Vehicle mileage logs and vehicle expense records
- Home office information, if applicable
- Insurance, rent, utilities and software subscriptions
Payroll and contractors
- Payroll reports and year-end wage forms
- Contractor payment totals and W-9 information
- Records of payroll tax deposits
Assets and debt
- Purchase documents for equipment, vehicles or property
- Loan statements showing interest paid
- Records of any assets sold or disposed of
Prior-year and payments
- Last year’s return
- Estimated tax payments made, with dates and amounts
- Any notices received from tax agencies
A note on outcomes
No checklist can promise a particular result. Every situation depends on its facts and current law. Organized records can make the process easier to review, but they cannot guarantee a particular tax outcome or prevent every follow-up question.
Work directly with MST for professional tax preparation
This guide helps you prepare for tax services with MST Multiple Services, LLC. We provide professional tax preparation and can explain which income records, expense documentation and prior-year information apply to your situation.
During your consultation, tell us about your business structure, income sources, payroll and major changes. We will discuss the scope of your engagement and an appropriate secure way to exchange documents. Do not send tax returns, Social Security numbers or account details through public website forms.
This article provides general educational information, not personalized tax, accounting or legal advice. Requirements depend on your circumstances. Contact MST for professional tax preparation and guidance tailored to your agreed engagement. MST does not provide legal advice or guarantee tax or funding outcomes.