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Insights · 5 min read
Preparing records for a tax professional
A licensed tax professional decides positions. Everything before that decision is record collection, and doing it well is the difference between a fast filing and a slow one.
The boundary
Institution does not determine tax positions or file returns. What Institution does is organise the records the professional needs, in a form they can work from without re-asking every year.
What preparation looks like
- Reviewed statements for the period, with reconciliations retained.
- Fixed-asset schedule, if applicable, with additions and disposals identified.
- Payroll summary from the provider, with any corrections annotated.
- 1099 vendor list with W-9 evidence.
- State registration status where nexus exists, and any notices received during the period.
- Ownership and equity changes, with supporting documents.
The handoff
The tax professional receives one package, not a series of forwarded threads. The organiser template makes the package repeatable across years.