Get Ready for Tax Season: 
Organizing Your Documents for Your Accountant in February 2025

Tax season is fast approaching, and getting your documents in order early can save you stress and potential penalties. Whether you’re a business owner or an individual filer, preparing your tax documents ahead of time ensures a smooth and efficient process when working with your accountant. Here’s a guide to help you gather everything you need before handing it over to your tax professional in February 2025.

1. Collect Your Income Documents

Your accountant needs a clear picture of your earnings for the year. Be sure to gather:

• W-2 Forms (for employees)

1099 Forms (for freelancers, contractors, or investment income)

• Business Income Statements (if self-employed)

• Rental Income Reports

• Any Other Income Records (such as alimony or royalties)

2. Gather Expense and Deduction Records

Proper documentation of expenses can help reduce your taxable income. Consider collecting:

• Receipts for Business Expenses

• Medical and Dental Expense Records

• Mortgage Interest Statements (Form 1098)

• Charitable Donation Receipts

• Education Expenses (Form 1098-T for tuition payments)

• Property Tax Records

• Investment-Related Expenses

3. Retirement Account Contributions (IRA, 401(k), etc.)

• Stock, Bond, or Mutual Fund Transactions

• Cryptocurrency Transactions (if applicable)

4. Gather Business-Specific Documents (For Business Owners)

• Profit and Loss Statements

• Balance Sheets

• Payroll Records

• Estimated Tax Payments

• Home Office Expense Records

• Mileage Logs (for business-related travel)

5. Ensure You Have Last Year’s Tax Return

Having a copy of your 2023 tax return can help your accountant compare figures and identify deductions you may have overlooked.

6. Consider Special Circumstances

If you had any major life changes in 2024, make sure to include relevant documentation. This may include:

• Marriage or Divorce Certificates

• Birth or Adoption Records

• Inheritance or Large Gift Documentation

• Relocation Expenses (if applicable for deductions)

7. Submit Everything to Your Accountant Early

Accountants get extremely busy in February and March, so getting your paperwork in early can help ensure they have ample time to maximize your deductions and file your return accurately. Consider sending documents digitally to streamline the process.

Final Thoughts

Organizing your tax documents early in February 2025 will save you time, reduce stress, and ensure you don’t miss out on valuable deductions. Start gathering your paperwork now, and your accountant will thank you! Need help with bookkeeping or organizing expenses? Consider using accounting software or a financial professional to keep things in check year-round.

At Books, Taxes & More, we can help you with all aspects of the process. Steve Perry, EA is exceptionally qualified and passionate about keeping as much of your money in your pocket as possible.

By staying ahead of the game, you’ll breeze through tax season with confidence and peace of mind.