Essential Tax Checklists
At BJ Consulting Group Inc, we aim to simplify your tax preparation process. Our comprehensive tax checklists are crafted to ensure you gather all the necessary documents for both personal and corporate tax returns, reducing stress and avoiding missed deductions. Whether you're a new client or a long-time partner, our checklists are here to make sure your tax preparation is accurate and efficient. Explore our detailed lists below to get started on your tax return preparation with confidence.
Documents Required to Ensure Accurate Tax Preparation
Personal Tax Returns
- PDF copy of the prior year's tax return (for new clients only)
- W-2 forms
- 1099-INT: Interest income from banks
- 1099-DIV: Dividend income from owned stocks
- 1099-B: Brokerage account statements
- 1099-MISC: Income as an independent contractor
- Unemployment income documents
- Social Security benefit statements
- 1099-R
- K-1 forms: Ownership in S-Corps or LLCs
For Schedule C Filers
- Income schedule
- Expense schedule
- Home office expenses
- Automobile use schedule (if applicable)
Itemized Deductions
- Estimated out-of-pocket medical costs
- 1098 form from the mortgage company
- Real estate tax payments
- Total charitable contributions for the year
Other Deductions
- IRA contributions
- Teacher expenses (if applicable)
- Child Care Credit: Provide:
- Institution name, address, and EIN
- Child’s name
- Amount paid
- Education Credits: 1098-T form
Estimated Tax Payments
- Details of any estimated tax payments made during the year for current taxes, along with confirmation of payments
Additional Documentation
- Copy of driver’s license (front and back) for taxpayer and spouse
- Voided check for direct deposit of refunds or direct payment (include bank name, routing number, and account number)
- Any other relevant tax-related documents
Corporate Tax Returns
Previous Tax Returns
- PDF or copy of the prior two years of tax returns (for new clients only)
Entity Type
- Specify the type of business entity: Corporation, S Corporation, Partnership, Multi-Member LLC, or Single-Member LLC
- State of formation
Financial Records
- Books/records (e.g., QuickBooks, spreadsheets)
- Year-end bank statements (minimum: December 31)
- Credit card statements for the year
- Accounting software files, if applicable
If It’s the Initial Year of Business
- Business formation documents
- EIN number
- Articles of Incorporation/Organization
For S Corporations & LLCs
- Names, addresses, and Social Security numbers of owners
- Ownership percentage allocation
Business Overview
- Brief description of how the business earns revenue
- Note any unique situations for the business
Payroll and Sales Tax Returns
- Indicate if the business files payroll tax returns
- Indicate if the business files sales tax returns
Banking Information
- Voided check or details including bank name, routing number, and account number for tax payments
Estimated Tax Payments
- Confirmation of any estimated tax payments made during the year for current taxes
Other Relevant Documentation
- Include any additional tax-related items specific to the business.
Get Your Personalized Estimate
Navigating your personal tax returns can be complex, but with our comprehensive checklist, you'll have a clear roadmap to ensure all necessary documents are ready.
