The Ultimate Tax Preparation Checklist

Author: Cooley & Martin | | Categories: Accounting Firm , Business Bookkeeping Services , Tax Preparation


There is no way around the fact that taxes must be paid, no matter how you feel about them. Nevertheless, tax season is not without stress and anxiety.

To help you avoid penalties and stress, we have created a handy checklist to help you file a more accurate tax return, find more tax deductions, and reduce tax payments. Follow our simple checklist thoroughly so that you can get back to the important things in life.

1. Taxes will never stay static. Events in your life, as well as frequent alterations in legislation, can result in either increasing or decreasing your taxes. Therefore, consider any life-changing events, big sales, or purchases that can impact your tax projections.

2. Speak to your tax advisor about potential tax planning strategies. Working with a qualified and seasoned professional can make your tax prep and filing experience as seamless and stress-free as possible. 

3. Use your tax organizer to assist with making sure you have all of your documents and utilize all of the appropriate credits and deductions.

4. Make sure to disclose all of your income even if you don’t receive a 1099.

5. Keep a folder for that year’s tax documents and receipts for medical, charitable contributions, mortgage interest paid, and state/local taxes paid.

6. If you cannot file your taxes by the appropriate deadline, make sure an extension is filed and any taxes owed are paid by that deadline.

7. Make sure you report all estimated taxes paid.

8. Look ahead to the next tax year to see if your income will increase or decrease to see if you need to adjust your estimated tax payments.

If you have concerns about filing your taxes or looking for an accounting firm to help simplify the process, reach out to the tax experts at Cooley & Martin, serving in the greater Charlottesville area and throughout the United States. We are redefining the definition of a full-service tax and accounting firm. Our client-centric approach has been delivering trusted, accurate and timely results since our founding in 2001.

Our firm services multiple states as well as the following cities in Virginia: Charlottesville, Waynesboro, Culpepper, Richmond, and Lynchburg.

Get in touch with us today!

To learn more about our services, please click here. Have a question? We’d love to hear from you. Contact us here or call us at (434) 975-2663, or email us at