A Stress-Free Tax Prep Checklist

BFC
7 days ago
3 min read

What to Gather Before Filing

Tax season doesn’t have to feel rushed, confusing, or overwhelming. With a little preparation—and the right support—you can move through the tax process with a sense of ease. Our tax prep checklist outlines the most common documents and information needed before filing, while keeping one important truth front and center: no two tax situations are the same.

Use this as a guide, not a test. Not everything will apply to you, and that’s okay.

Start With the Basics: Personal Information

Before diving into income and deductions, make sure your foundational information is in

order.

Last year’s tax returns: Federal and state returns can be helpful references and often save time when filing.
Social Security or Tax ID numbers: For yourself, your spouse, and all dependents (including children or elderly parents).
IRS IP PIN (if applicable): If you or a dependent has been issued an Identity Protection PIN, keep it handy. Check your IRS account to see if a new IP PIN has been issued.
Bank account and routing numbers: Needed if you plan to receive a refund or make a payment electronically.

Gather Your Income Documents

Next, collect records that show all income received during the year.

W-2 forms: Employers are required to issue these by January 31.
1099 forms (typically arrive between late January and mid-February), including:
- 1099-NEC for contract or freelance work
- 1099-MISC for miscellaneous income such as royalties or prizes
- 1099-K for payments received through third-party platforms
- 1099-INT, 1099-DIV, or 1099-B for interest, dividends, and investment activity
Income not reported on a document:
- Note: Business owners are required to report all income received whether or not it is reported on a tax document.

If you’re unsure whether income applies, include the document anyway—clarity comes from reviewing the full picture.

Don’t Miss Out On Potential Deductions

Deductions can reduce your taxable income and, in many cases, your overall tax bill. Documentation is required.

Common deductions include:

Retirement contributions: Traditional IRA or self-employed retirement account contributions (within IRS
limits).
Education expenses: Tuition, fees, and student loan interest, reported on Forms 1098-T and 1098-E.
Medical expenses: Eligible if medical and dental costs exceed 7.5% of adjusted gross income.
Mortgage interest and property taxes: Typically reported on Form 1098 from your lender.
Charitable donations: Keep receipts or written acknowledgments.
Educator expenses: Eligible educator expenses qualify up to a certain level.
State and local taxes (SALT deduction): Includes income or sales taxes and property taxes, subject to IRS limits.

Review Available Tax Credits

Tax credits are especially valuable because they reduce taxes owed dollar-for-dollar.

Some commonly claimed credits include:

American Opportunity Credit & Lifetime Learning Credit: Education-related credits that require Form 1098-T.
Child Tax Credit: Up to $2,200 per qualifying child for the 2025 tax year, with additional credits available for adoption in some cases.
Retirement Savings Contributions Credit (Saver’s Credit): Available for eligible contributions to certain retirement accounts.

Remember Payments Already Made

Finally, make note of any taxes already paid throughout the year:

Federal and state tax withholdings (reported on W-2s)
Estimated tax payments made quarterly, if applicable

A Final Word on Stress-Free Tax Preparation

You don’t need to have everything perfectly organized to get started.

At Barnes Financial Concierge, we believe tax preparation is about more than forms and numbers—it’s about understanding your full financial story and supporting you with clarity and care.

If you’re unsure whether a document applies to you, bring it anyway. The goal is not perfection—it’s peace of mind in knowing you reported everything accurately and on time.

Trust us with your numbers to help you tell your story.