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Ready, set go! Get ready for an awesome tax season. Here are some tips to get ready to file your US tax return.

  • Jan 30, 2025
  • 1 min read

Ready, set go! Get ready for an awesome tax season. Here are some tips to get ready to file your US tax return.



Here is a list of documents which your tax accountant will need:



Wage earners: You should receive your W-2 from your employer by Jan. 31. For those in Israel, Israeli Form 106 (equivalent to a W-2) should be ready by early March.



Independent contractors: Your 1099-NEC should be ready by Jan. 31. You should also finalize your list of business expenses, which will reduce your taxes. Technically, anyone who receives a 1099-NEC is considered a business owner, although not everyone realizes it.



Business owners: You should finalize your Profit & Loss statement, as well as a categorized list of business expenses.



Real estate investors: It's time to finalize your records for the year - rents received, expenses, mortgage interest etc.



Other documents: 1099-B from brokerages should be available by mid-February. 



Forms 1099-INT for interest, 1099-DIV for dividends and 1099-R for retirement income will be available by Jan. 31.



Remember, the quicker you're ready to file, the quicker you'll receive your refund (if applicable)!



I'm ready to take on a limited number of new clients this tax season, so it's best to reach out early and get things started.


 
 
 

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