It was like it was just yesterday when we celebrated the New Year for 2021, but now, it is the start of 2022. With that, it means that tax season is right around the corner, and it is time to start putting together your tax documents. Our team at abc Payroll wants to make sure that you are ready to get the most out of your taxes by helping you put together a checklist for your tax preparation in MA.
What to bring to your tax appointment
We want to make the most of your tax appointment and your return. To help you, you will need to gather a couple of documents to bring with you.
- Payment summaries from current and past work from 2021
- Any cash payments you may have received
- Any money statements from websites such as eBay.
- Eligible termination payments
- Any interest earned from banks
- Tax statements for trusts of investments
- Any money you have made from the sharing economy (Uber, Airbnb, Lift, etc.)
Deductions and expense statements
This section would apply if you run a business or are disabled, or have any additional things that you may want to add to your tax statement and refund, such as
- Donations to charities
- Sickness and accident insurance
- Income protection insurance
- A list of work-related expenses with receipts.
- A motor vehicle logs for those who are more on the road.
- Out of pocket medical expenses.
- School building levies
- Library funds
Why is it essential to have all of your documents in order?
There are quite a few reasons for you to have all of your documents in order before getting your taxes done. One of the first is organization makes the process a breeze. When you have everything in order, it allows our tax professionals to gather the information needed to put your taxes together. Plus, knowing where to find the said information saves a lot of time!
Another reason it is crucial to gather documents early is to ensure you have everything and are not missing any vital information. If the IRS catches anything that may be incorrect or missing with your tax documents, you will have quick access to what they need.
Avoiding this situation is easy though when seeing our tax professionals at abc Payroll.
MA tax preparation done the right way.
At abc Payroll, we work hard to help you keep your money for over 30 years. We take pride in the services provided to our customers and always exceed what our competition can do. As a result, we are one of the fastest-growing companies for MA tax preparation!
See what all of the hype is about at abc Payroll by calling our professionals at 978.251.3003 today!