AI Checklist Generator

Email address

Home > tax preparation and planning

tax preparation and planning

Collect W-2 forms from employers

Gather 1099 forms for freelance or investment income

Obtain mortgage interest statements

Compile records of any other income sources

Collect bank statements and investment account statements

Gather receipts for deductible expenses

Identify potential itemized deductions (medical expenses, charitable contributions, etc.)

Review eligibility for tax credits (Earned Income Tax Credit, Child Tax Credit, etc.)

Consider above-the-line deductions (student loan interest, contributions to retirement accounts)

Determine the appropriate filing status (single, married filing jointly, head of household, etc.)

Evaluate the impact of filing status on tax liability

Use tax software or calculators to estimate tax liability

Review previous year’s tax return for reference

Consider any changes in income or deductions from the previous year

If self-employed or receive significant income not subject to withholding, calculate estimated tax payments

Schedule and make any necessary estimated tax payments

Evaluate opportunities for contributions to IRAs or 401(k)s

Consider catch-up contributions if age 50 or older

Assess capital gains and losses for investment income

Consider tax-loss harvesting strategies to offset gains

Choose a tax preparation method (software, professional preparer, DIY)

Complete tax return accurately and thoroughly

Double-check all entries and calculations

Decide whether to file electronically or by mail

Ensure all necessary forms and schedules are included

Submit tax return before the deadline

Reflect on this year’s tax situation for future planning

Set financial goals based on tax outcomes

Consider adjustments to withholding or estimated tax payments for the next year

Hey there! Here's a little about us or visit our recurring workflow SaaS: Manifestly Checklists

Light Dark