Frequently Asked Questions (FAQs)
Our team members have the required business acumen and industry designations to deliver worldclass tax, accounting, and finance services. Multiple team members hold a graduate degree in accounting or business, are Certified Public Accountants (CPA), and have nearly 10 years of experience in accounting, tax, and finance at large multinational companies and/or top consulting firms
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Please use this list as an illustrative guide only. The specific tax documents applicable to your tax situation are based on your types of income, expenses, and life situations. Many of the documents below may not be applicable to your and will not be required for your specific tax return. Please note that the IRS receives a copy of most tax forms so it is important to provide a complete set of records so that your tax return is accurate and matches the IRS records.
Personal Information (collected through the Annual Organizer)
- Legal name, SSN, date of birth, address, occupation, and marital status
- The same information for your spouse and dependents (if applicable)
- Photo of your current Driver’s License or State ID (front only)
- Banking information for direct deposit or payment (if elected)
- Annual Confirmations (Foreign Accounts, Crypto Activity, Medical Expenses, Charity, and Estimated Tax Payments)
- Prior year tax return (helpful but not required)
Income – Employment & Benefits
- Employment Wages or Salary (Form W-2)
- Unemployment Compensation (Form 1099-G)
- Disability or government retirement benefits (Forms W-2, SSA-1099, RRB-1099)
- Retirement income from pensions, annuities, IRAs, or 401(k)s (Form 1099-R)
- Gambling Income (Form W2-G)
Income – Investments & Assets
- Interest from bank accounts, bonds, CDs, brokerage (Forms 1099-INT)
- Dividends from bank accounts, bonds, CDs, brokerage (1099-DIV)
- Income (or Loss) from selling Stocks, Bonds, or Crypto (1099-B)
- Income (or Loss) from selling Real Estate (Forms 1099-S)
Income – Business & Rental
- Self-Employment Income (Schedule C + Forms 1099-MISC, 1099-NEC, 1099-K, cash, etc.)
- Partnership or S-Corporation income (Schedule K-1)
- Rental income or expenses (Schedule E)
- Farm income (Schedule F)
Expenses – Family & Education
- Child care expenses (Daycare)
- Tuition / private school expenses (Form 1098-T)
- Student loan interest (Form 1098-E)
- Adoption-related expenses
- Teacher educator expenses
Expenses – Retirement & Savings
- IRA / Roth contributions
- Health Savings Account (Forms 5498-SA, 1099-SA)
- 529 College Savings Plan contributions
- Roth conversion / Backdoor roth
Expenses – Housing & Other
- Mortgage Interest (Form 1098)
- Real Estate Taxes
- Energy-efficient home improvements
- Alimony or other deductible expenses
Life Events & Special Situations
- Had health insurance through the Marketplace (Form 1095-A)
- Have a capital loss carryover from a prior year
- Had lender debt canceled or a home foreclosure (Forms 1099-C, 1099-A)
- Purchased a new or used electric vehicle
Please use this list as an illustrative guide only. The specific tax documents applicable to your business are based on your entity structure and types of income and expenses. Please note that the IRS receives a copy of most tax forms so it is important to provide a complete set of records so that your tax return is accurate and matches the IRS records.
Background Information (collected through the Annual Organizer)
- Business Name, Founding Date, Contact Information, and Tax ID (EIN)
- Description of the products or services provided
- Description of the legal structure (e.g. Sole proprietorship, LLC, Corporation, Partnership, S-Corporation, Non-for-profit)
- Description of each state the company operates in
- Business Owner(s) Information (Name, Contact Information, and Tax ID)
- Tax Representative Information (Name, Contact Information, and Tax ID)
- Additional Business Owners or Subsidiaries
- Financial Summary (Bookkeeper, Accounting Method, Total Assets, and Total Revenue)
- Banking Information (as necessary for direct deposit or debit if elected)
Formation Documents
- Business Formation Document(s) (i.e. Articles of Incorporation or Organization)
- Operating Agreement(s)
- Entity Structure Chart
- IRS EIN Letter(s)
- Any other IRS Letter(s) — including S-Corp election approval
- Cap Table — Detailed list of owner’s contributions, distributions, etc.
Financial Statements
- Provide financial statements for each tax year in scope (i.e. Balance Sheet and Profit & Loss Statement). *Please be prepared to provide additional information and support for account balances and business upon request
Tax Returns
- Please provide tax returns for the past 3-years if prepared / available
HOW CAN WE
HELP YOU?
Contact us at the concierge @ abusinessadvisor.com or submit a business inquiry online.