There's no need to stress over finances when you hire a professional to handle things. Using a CPA year-round can help you keep your finances in check and get the right tax breaks and deductions you may miss on your own. Read on to learn about how to prepare for your CPA visit.

1. Real Estate Documents

Your real estate holdings can impact your tax return. So, whether you own residential or commercial property, bring documentation that shows what you're paying in terms of mortgage or leases. If you own a vacation property or rentals that generate income, there are deductions that you'll qualify for. You should have something that accounts for any repairs or updates that you made on these properties as well.

2. Wage Statements

Do you work for an employer and get a W2, or are you a contractor or freelancer? Depending on how you make your income, you may have different documents to present. Many freelancers or sole proprietors may get 1099 documents from each client. If you work for an employer, be sure to bring your W2 to show what you earned that year.

3. Business Expense Receipts

Whether you're a freelancer or own a corporation, you can get deductions back for any business-related expenses throughout the year. However, it should be clear that these expenses were related to your business and not personal ventures. Save receipts from business lunches, related trips, or mileage used to travel between jobs and gigs. If you bought new equipment for your business, such as a computer, phone, camera, or photocopier, make sure you account for that as well. Companies under S Corps or C Corps may have more complex documentation to show the CPA. According to the National Federation of Independent Business, businesses making less than $5 million may use cash accounting rather than the more complicated accrual method.

4. Recent Tax Return

You may not always need your most recent tax return, but it can speed up the process for the next one or other financial services you may need. If your accountant has access to your old return, it'll be easier to input the same information into the new one unless things have changed drastically.

Finances can be stressful for everyone. The more prepared you are, the easier the process will be. Keep a professional CPA who knows what they're doing on deck so that you don't have to worry about making mistakes with your finances. Call Carpenter, Evert & Associates so we can assist you year-round.