Tax Prep Checklist- Personal Finances

It is never too early to prepare for next years taxes. A simple checklist will help you keep track of life’s changes so you don’t have to remember during holidays and busy seasons.

Personal Finances- Tax Document(s) Checklist

2024’s tax season may be behind us, but this checklist is a helpful resource to keep up to date during the year as your circumstances change. Starting a small business anyone? Buying/selling property? Did you open new interest earning bank accounts?

I started the a checklist back in 2022 and have expanded on it as life changed along the way. I referenced it often throughout 2023 to ensure I was keeping up on any items. During the year, because I was revisiting the checklist, I remembered to scan or save important documents into the relevant tax folder.

In 2023, we purchased a new car. I knew I would need the purchase info on that so as soon as we purchased the car, I scanned all the piles of documents into my computer. The documents I would need for taxes were saved into my tax folder.

When our home loan changed service providers I went to the checklist and added the new lender. I kept the older on the list since they would still be providing a 1098 for this year. When it came time to file taxes I was able to ensure I had received all needed documents.

Here is an EXAMPLE checklist. It by no means covers everything.