The "Short List"
Putting Together Your Tax Information: The “Short List” for Businesses and Individuals
For smooth and thorough preparation of your tax returns, collect the following information for your accountant — and please be careful not to throw away any tax documents you get in the mail!
Businesses
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Year-end bank reconciliations.
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Year-end bank statements.
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Physical inventory records with costing, if applicable.
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W-3, W-2s and 940
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Year-end commercial loan statements.
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Invoices for new equipment purchases made during the year.
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Loan documents for new loans.
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List of bad debt write-offs.
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Broker statements, if the business has investments.
Individuals
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W-2s
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1099s as follows:
1. 1099-B, Proceeds from sale of stock.
2. 1099-INT, Interest income.
3. 1099-R, Pension distributions.
4. 1099-G, Unemployment compensation.
5. 1099-DIV, Dividend income.
6. 1098, Mortgage interest expense. -
K-1s from other businesses.
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Contributions — cash and non-cash.
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Tax estimates — federal, state and local.
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Child/day care information.
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Medical expenses as follows:
1. Health insurance premiums.
2. Payments to doctors, dentists & hospitals.
3. Prescription drug expenses. -
Miscellaneous deductions as follows:
1. Safe deposit box fees.
2. Investment expenses.
3. Unreimbursed business expenses. -
Changes that occurred during the year,
i.e., new baby, change in marital status, or
purchase of new home. -
Settlement sheets from purchases and/or sales
of property. -
Affordable Care Act Tax Forms (1095A, 1095B & 1095C)
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1099-NEC - Non-employee Compensation