Required Forms

• Before setting a day to do taxes, the individual must have all required forms handy. That includes all W-2 wage forms that list earned income from jobs, 1099 forms for independent contractors and 1098 forms for claiming certain deductions, like mortgage insurance and student loan interest costs. The filer needs these forms to record accurate figures on his tax return. Providers commonly send these forms to tax filers by February.
  
  

Receipts

• If the filer runs a business, manages rental properties or carries on other activities that require him to list expenses, he must also have required business receipts handy. Throughout the tax year, it is important to gather receipts to prove deductible expenses, like advertising expenses, maintenance costs for a rental property and receipts provided by charities for donations. You must categorize all receipts to record the information in each required section of the return.
  
  

Accounting Calculator

• When getting prepared to do taxes, a filer should have some type of calculator handy--preferably an accounting calculator that can produce a printout. When filling out certain forms, the filer may need to add up numerous items to get a total. One example of a case where an accounting calculator comes in handy is adding up the charitable or business expense receipts collected over the year. Some tax forms also require more complex math calculations besides simple addition and subtraction.
  
  

Tax Software

• The final requirement for doing taxes is a tax software program. While it is acceptable to do taxes by hand, printing forms and sending them without the help of software is impractical in many cases. Tax software helps guide the filer through the entire preparation process, prompting him when necessary to ensure accuracy. It also allows the individual to e-file the return if he chooses, which speeds the filing process.