Are you ready for tax season?

2015 is over and you know what that means: Time for taxes. This is just about everyone's least favorite time of the year. To make things a little easier, we have gathered what to get ready for your CPA this tax season.

Identification and Basic Information

If you have a new relationship, you will need to supply identification for your spouse, yourself, and all dependents claimed. The best form of identification is a social security card. Be sure to also have your current address, last year's tax form, and any information that relates to a change in your tax status.

Income Documents

Gather any and all documents regarding your sources of income. All payers owe you a form corresponding with how you were paid from your employer, investments and interest earned. Make sure you have gathered all documents and contact the IRS if you are missing a form.

Expense Documents

There are many things you can write off as expenses. Be sure to do your research on what can be considered an expense and keep track of all the receipts from those expenditures. It is much easier to keep track of these things year round, so keep this in mind for 2016. Large expenses such as mortgage interest and student loan interest will be documented on a 1098 form. Follow this link to the IRS that lists several types of deductions and credits that will help you lower your tax bill!

Health Insurance Information

If you have purchased health insurance through the marketplace, you should receive a 1095-A form issued by the Exchange.

The more organized you are for your CPA; the less you will have to pay for his or her time.

Don't have time to take care of tax organization? Let Carolina Money Minders take care of the process for you. Email us today for a free quote.