Say Goodbye to 2025

“It’s the holiday season…”

…and tax season will be here before we know it. What does that mean? It means in January and early February you’ll want to regularly check your email and mailbox to prepare your tax folder! End of year taxes are upon us. Year-end statements will be sent your way from banks, your workplace, stocks, and more.

Some of the documents you can expect in the mail or your email to save for tax-time include the following:

• W-2 forms from your employers
• Forms 1099-INT and 1099-DIV (showcases interest and dividend income)
• Donation receipts for charities or churches you gave to
• Forms 1099-MISC and 1099-NEC (showcasing self-employment earnings, rentals, etc)
• Form 1099-K (showcasing payment processing services like PayPal and CashApp if you received $600 or more in payments for services or goods)
• Records of cryptocurrency investments
• Health Insurance statements
• Proof of qualifying educational expenses
• Mortgage interest statements

Organizing an end of year tax folder is an excellent way to ensure that all of your important documents are in one place and easily accessible. Start by gathering all of your documents related to income, such as your W-2s, 1099s, and any other income statements. Be sure to include any statements for investments, such as stocks, bonds, and mutual funds. Next, organize any documents related to deductions, such as charitable donations, medical expenses, and any other deductions you may have taken. Finally, store all of your documents in a safe and secure folder. Doing this will make it easier to access the documents when it comes time to file your taxes.

At Schumacher Sama, we help businesses and individuals file their taxes in an orderly, professional manner. We can help you utilize the deductions that you qualify for, save you money, and have your taxes done early.

Based in Wauwatosa, Wisconsin, we file taxes for those in the Greater Milwaukee area and beyond. Contact our team for your tax and accounting services today!

Don’t feel like you are alone in your tax preparation efforts. Contact our team for tax and accounting, payroll, and advisory and consulting services.

Merry Christmas and Happy Holidays from our team at Schumacher Sama!