The Ultimate Tax Filing Checklist: What You Need Before Filing Your Taxes
Filing your taxes can feel overwhelming, but with the right preparation, you can make tax season stress-free. Whether you’re an individual filer, a freelancer, or a small business owner, having all the necessary documents and information ready will help you file accurately, avoid IRS audits, and maximize your refund.
Use this ultimate tax filing checklist to ensure you have everything you need before filing your return.
1. Gather Your Personal Information
Before diving into your tax documents, make sure you have the following basic details:
✔️ Your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
✔️ Your spouse’s and dependents' SSNs (if applicable)
✔️ Bank account & routing number (for direct deposit of your refund)
✔️ Last year’s tax return (helpful for reference and consistency)
💡 Pro Tip: If you moved in the past year, update your address with the IRS and your employer to ensure you receive important tax forms on time.
2. Collect Income Documents (W-2s, 1099s, & More)
You must report all sources of income on your tax return. Depending on your job type, you’ll need one or more of the following forms:
📌 W-2 Form – If you’re employed, your employer will send you this form by January 31. It details your earnings and tax withholdings.
📌 1099 Forms – If you’re self-employed, a freelancer, or a gig worker, you’ll receive Form 1099-NEC or Form 1099-K for payments over $600.
📌 1099-INT / 1099-DIV – For interest earned from bank accounts or investment dividends.
📌 1099-G – If you collected unemployment benefits or a state tax refund.
📌 K-1 Forms – If you’re a partner in a business, own rental property, or receive income from a trust or estate.
💡 Pro Tip: Even if you don’t receive a 1099 form, you still need to report self-employment income to avoid IRS penalties.
3. Identify Possible Tax Deductions & Credits
Deductions and credits lower your taxable income and increase your refund. Gather supporting documents for these common tax breaks:
Tax Deductions:
💰 Self-employed expenses (office supplies, software, travel, business meals, home office)
🏡 Mortgage interest & property taxes (Form 1098)
🎓 Student loan interest (Form 1098-E)
📚 Education expenses (tuition, fees, books)
🚗 Charitable donations (monetary, goods, mileage)
💼 Medical expenses (if exceeding 7.5% of your AGI)
Tax Credits:
👶 Child Tax Credit ($2,000 per child under 17)
🎓 American Opportunity Tax Credit (for students, up to $2,500)
🚗 Electric Vehicle Tax Credit (up to $7,500 for eligible EVs)
💰 Earned Income Tax Credit (EITC) (for low-to-moderate income workers)
💡 Pro Tip: Keep digital receipts, invoices, and bank statements for at least three years in case of an IRS audit.
4. Organize Small Business & Side Hustle Finances
If you’re a freelancer, entrepreneur, or small business owner, tax filing requires extra documentation:
📌 Income records (1099-NEC, PayPal/Stripe reports)
📌 Business expenses (marketing, software, supplies, rent, utilities)
📌 Mileage logs (if using a personal vehicle for business)
📌 Home office expenses (if eligible for the home office deduction)
💡 Pro Tip: Separate your business and personal bank accounts to simplify tax filing.
5. Review Tax Deadlines & Choose How You’ll File
📆 Key Tax Deadlines for 2025:
✔️ January 31, 2025 – Deadline for employers to send W-2s & 1099s
✔️ April 15, 2025 – Tax filing deadline for individuals
✔️ June 15, 2025 – Second estimated tax payment for self-employed individuals
✔️ October 15, 2025 – Extended deadline (if you filed for an extension)
💡 Ways to File Your Taxes:
✅ DIY Tax Software – TurboTax, H&R Block, TaxSlayer
✅ Hire a Tax Professional – CPA, tax preparer, or financial advisor
✅ File for Free – IRS Free File (for individuals earning under $73,000)
Final Thoughts: Get a Head Start on Tax Season
The key to stress-free tax filing is early preparation. With this comprehensive checklist, you’ll have everything you need to file accurately, maximize deductions, and get your refund faster.
💡 Need expert help filing your taxes? Parks Projects NJ is here to assist individuals, freelancers, and business owners with tax preparation.
👉 Visit: parksprojectsnj.com
📲 Follow us on Instagram: @parksprojectsnj