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Financial Planning Tip for February

Updated: Apr 16, 2019

It’s February and time to start prepping for tax season. You probably have already received tax documents from your employer and your bank. In the next few days we will be sending out tax reference reports for clients with taxable accounts. Here are three things to do now that will help tax season go smoothly for you and your tax preparer:

Start collecting tax documents. Make a folder and put everything in one place.

  • W-2s from employment (deadline for sending these is January 31)

  • 1099s from contract work, bank accts (deadline for both is January 31)

  • 1099s from SSG (January through March 15)

  • Tax reference report from Midway (February 6)

  • 1095 for health insurance (January – March 2)

  1. Make a checklist of things you expect to receive. Your tax preparer may not know what’s missing but you will.

  2. Be aware that you may receive documents that are online only.

  3. Check the account title on your documents. You will sometimes receive retirement account tax statements that are informational only. File these separately.


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