Guide: What Do I Need To File My Taxes?

Dimor - What do I need to file my taxes?

New Year, New Tax Season!

It’s that time of year again! The holidays are over, the New Year’s celebration has passed, and it is now time to file your taxes! Like every year, the team at Dimor General Agency is here to help you get the most out of your return and make sure you walk away with a smile on your face, hopefully with a nice refund!

Part 1: Income Information

Below is a quick reminder of what you’ll need if you’re filing your personal taxes!

  1. Social Security Number for yourself, your spouse, and any possible dependents
  2. W-2 Forms from all employers you and your family worked for during the past tax year
  3. 1099 Forms if you or anyone in your family completed contract work and earned more than $600
  4. Investment income information from any investments, stocks, bonds, etc.
  5. Income from local and state tax refunds from the prior year
  6. Business income if you have any
  7. Unemployment income if you received unemployment benefits this year
  8. Social Security income if you’re receiving SSI
  9. Miscellaneous income like lottery or gambling winnings, prizes or awards

Most people usually come with items 1, 2 and 8 so if you are missing some information don’t worry, we’re here to help! Give us a call today if you have any questions on what you need to bring and we’ll gladly help you get ready for this year’s tax season!

Part 2: Income Adjustments

Please review the following items if you’ve made any major purchases this year, or benefited from any of the following scenarios!

  1. Homebuyer tax credit if you recently purchased a home
  2. Green energy credits if you’ve been nice to the environment this year
  3. IRA Contributions for any additional investments into an IRA
  4. Mortgage interest if you currently own a home
  5. Student loan interest because those student loans aren’t paying themselves and we’re at record highs
  6. Medica Savings Account (MSA) contributions, if you do not contribute to an MSA and your employer offers this, we definitely recommend doing so!
  7. Self-employed health insurance
  8. Moving expenses for anyone that moved in the past year

Part 3: Credits and Deductions

Please review the following and bring this with you when you file your taxes!

  1. Education and/or childcare costs
  2. Adoption costs if you recently adopted a child
  3. Charitable contributions and donations if you contributed to making the world a better place this year
  4. Casualty and theft losses
  5. Qualified business expenses
  6. Medical expenses
  7. Job and moving expenses

Part 4: Claiming Your Refund or Paying Taxes

The final and one of the most important parts of tax season is to be ready to receive or pay your outstanding taxes. When you file your taxes, make sure you come with your bank account number and routing number. If you follow along with this guide and bring all of the documents that apply to you, you should be fine.

If you need any help with filing your taxes this year, make sure to reach out to our team! We have over 15 years of professional tax filing experience and will walk you through this confusing process! Apps are easy to use, but the last thing you want to do is overlook an important aspect of the tax filing process.

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