Tax preparation tips 2026

{{whyLabel}}: These forms are the primary record of your earned and unearned income reported to the IRS.

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• Collect W-2s from all employers.
• Retrieve 1099-NEC or 1099-K forms if you performed freelance or gig work.
• Download 1099-INT and 1099-DIV from your banking and investment portals.

{{doneWhenLabel}}: All official income statements for 2025 are organized in one folder.

{{whyLabel}}: Interest paid on home loans and education is often deductible, reducing your taxable income.

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• Log into your mortgage provider's site to get Form 1098.
• Access your student loan servicer's portal for Form 1098-E (deductible up to $2,500).
• Check for Form 1098-T if you paid tuition for higher education.

{{doneWhenLabel}}: All interest and tuition statements are ready for entry.

{{whyLabel}}: If your expenses exceed the 2025 standard deduction ($15,750 for Single, $31,500 for Married), you must have proof to itemize.

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• Group receipts for medical expenses (only the portion exceeding 7.5% of your AGI is deductible).
• Total your charitable donation receipts (cash and non-cash).
• Summarize state and local taxes (SALT) paid, noting the 2025 cap is $40,000.

{{doneWhenLabel}}: Receipts are totaled and categorized.

{{whyLabel}}: Choosing the higher amount significantly lowers your tax bill.

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• Compare your total itemized expenses against the 2025 Standard Deduction: $15,750 (Single), $31,500 (Married Filing Jointly), or $23,625 (Head of Household).
• If 65 or older, add the additional senior deduction of $6,000 per person.
• Choose the larger of the two amounts to apply to your return.

{{doneWhenLabel}}: You have decided which deduction method to use.

{{whyLabel}}: New legislation allows significant deductions for service and hourly workers.

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• Deduct up to $25,000 of qualified tips if your income is under $150,000 ($300,000 for joint filers).
• Deduct up to $12,500 ($25,000 for joint filers) of qualified overtime pay.
• Ensure these amounts are clearly separated on your payroll records.

{{doneWhenLabel}}: Tips and overtime deductions are calculated and ready.

{{whyLabel}}: Contributions made before the April 15, 2026 deadline can reduce your 2025 taxable income.

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• Top off your Traditional IRA (Limit: $7,000; $8,000 if 50+).
• Fund your HSA (Limit: $4,300 for individuals, $8,550 for families).
• Check if you qualify for the Saver's Credit based on these contributions.

{{doneWhenLabel}}: Final contributions are made or planned before the deadline.

{{whyLabel}}: You can claim 30% of costs for green upgrades, up to $3,200 annually.

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• Claim up to $1,200 for windows ($600), doors ($500), and audits ($150).
• Claim an additional $2,000 for heat pumps or biomass stoves.
• Ensure you have the manufacturer's PIN or QM code for each item installed in 2025.

{{doneWhenLabel}}: Energy credits are calculated with supporting QM codes.

{{whyLabel}}: Self-employed individuals can deduct specific costs for business use of home and car.

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• Use the simplified home office method ($5 per sq ft, up to 300 sq ft) or actual expenses.
• Deduct interest on new personal-use passenger vehicles (up to $10,000) if income is under $100k/$200k.
• Apply the standard mileage rate for business trips taken in 2025.

{{doneWhenLabel}}: Business-use calculations are finalized.

{{whyLabel}}: Using software reduces math errors and ensures forms are mapped correctly.

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• Enter all income from W-2s and 1099s.
• Input all identified credits (Child Tax Credit is $2,200 for 2025).
• Upload digital copies of forms to the software for record-keeping.

{{doneWhenLabel}}: All data is entered into the filing system.

{{whyLabel}}: Errors in Social Security Numbers (SSN) or bank info are the leading cause of delayed refunds.

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• Cross-check SSNs for all dependents against their social security cards.
• Confirm your bank's routing and account numbers for direct deposit.
• Review the spelling of names and your current mailing address.

{{doneWhenLabel}}: Identity and banking data are confirmed 100% accurate.

{{whyLabel}}: E-filing is faster and more secure than paper filing.

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• Run the software's built-in error checker.
• Review the summary to ensure the refund or balance due matches your expectations.
• Sign electronically and submit the return.

{{doneWhenLabel}}: You receive an email confirmation that the IRS has accepted the return.

{{whyLabel}}: The IRS can audit returns for several years; having organized records is your best defense.

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• Save a PDF copy of the final filed return (Form 1040 and schedules).
• Store all supporting receipts and 1099s in a secure, encrypted digital drive.
• Keep physical copies in a fireproof safe if preferred.

{{doneWhenLabel}}: All 2025 tax documents are securely stored and labeled.