As we step into 2025, it’s time to get your tax records in order. Organized records make filing your tax return a breeze, helping you avoid delays and ensuring your refund arrives on time. Here’s what you need to know to be well-prepared this tax season.
Essential Tax Documents to Gather
1. W-2 Forms – If you are employed, collect your W-2 forms from your employer.
2. 1099 Forms – Gather all relevant 1099 forms, including:
- 1099-INT from banks for interest earned
- 1099-DIV for dividends received
- 1099-MISC or 1099-NEC for freelance or gig work income
3. Digital Assets & Investments – If you have earned income from cryptocurrency or other digital assets, keep detailed records of transactions.
4. Health Insurance Documents – If you had health insurance through the marketplace, ensure you have your 1095 form ready.
5. IRS Notices – Keep any letters from the IRS, such as the CP01A notice for your identity protection PIN.
6. Unemployment Benefits – If you received unemployment payments, be prepared with your 1099-G form.
Important Reminders
Address or Name Change? Notify the IRS and the Social Security Administration (SSA) to avoid any complications.
Know Your Taxable Income Most income sources are taxable, including wages, freelance earnings, digital asset profits, unemployment benefits, and interest income.
Preparing your tax documents in advance will save you time and prevent last-minute stress. If you need professional assistance, call 972-242-5700 today. Let AssuredBats help you navigate tax season smoothly and efficiently!
