A Beginner’s Guide to Gathering Information For Your CPA

Hiring a CPA will help prepare returns and reduce the balance owed by favorably applying the tax code. However, to enable the CPA to use their expertise in tax preparation to achieve possible refunds, they should have all of the clients’ financial information in front of them.

So, to aid individuals in collecting relevant documents when first meeting a CPA, Terry Barker, CPA, has put together a beginner’s guide to gathering information for your CPA. By following this guide, you, as an individual, can get peace of mind that your financial statements are in order.

Getting Started
Keep previous years return handy: When meeting with a new CPA, submitting a copy of your prior-year tax return is of utmost importance as it provides a starting point.

Gather documents: You will need to provide the CPA with all your year-end documents, including forms W-2s and 1099. If you are self-employed, a summary of your gross income and expenses is needed. Besides, include a copy of your itemized deductions if you have them. These include medical costs, property taxes, mortgage interest paid, and contributions.

Next Steps
Plan thoroughly: Write down questions to ask, and also be prepared to answer questions. Don’t be afraid to query things that you may feel sound trivial, as it could end up being something crucial.

Clear doubts: If you are not sure about an income or expense item, bring it with you to discuss. A knowledgeable accountant will tell you straight away if it is something that can get included when filing your return.

Advice From The Pros
Remain focused: The most important thing to remember is to be thorough in gathering your records in a timely manner.

Stay relaxed: If this is your first time working with a CPA, make sure that you ask many questions. You should feel comfortable that the accountant has the necessary skills to prepare your return accurately, and If you do not get sufficient answers, then you can always leave.

At Terry Barker, CPA, my goal is to exceed your expectations. As the go-to expert in Katy, Fulshear, and Bellaire, TX, for all your accounting needs, I will file your tax returns effectively.

By adhering to the values of accuracy, integrity, and efficiency, I render superior accounting services that cultivate client trust. I also believe that accounting processes should fit the needs of the client, not the other way around.

My services include personal financial planning, estate planning, financial planning for seniors, balance sheet preparation, business loans, business plans, income tax preparation, tax planning, and IRS audits. Visit my website to learn more or contact Terry Barker, CPA today.