# Tax Preparation

> Tax Preparation

- Skill: `comeonoliver/tax-preparation` (Agent Skill)
- Install (CLI): `npx skillmds@latest add comeonoliver/tax-preparation`
- Raw SKILL.md: https://api.skillmd.com/api/skills/comeonoliver/tax-preparation/raw
- Safety review: pending (external: skill-scanner PASS, skillspector PASS)
- Works with: Claude Code, Claude.ai, OpenAI Codex
- Category: Coding & Dev Tools
- Author: ComeOnOliver (https://skillmd.com/u/comeonoliver)
- Updated: 2026-09-21
- Page: https://skillmd.com/skills/comeonoliver/tax-preparation

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# Tax Preparation

Help users organize and prepare for tax filing.

## When to Use
- Organizing tax documents and receipts
- Creating tax preparation checklists
- Understanding common deductions and credits
- Tax timeline planning
- Estimating tax liability

## When NOT to Use
- This is NOT tax advice. Consult a tax professional for your specific situation.
- Filing taxes (use tax software or a professional)
- Complex tax situations (business structures, international income, audits)
- State/provincial-specific rules without verification

## ⚠️ Important Disclaimer
This skill provides general tax organization guidance, NOT professional tax advice. Tax laws vary by country, state/province, and individual circumstances. Always consult a qualified tax professional for your specific situation.

## Tax Document Checklist

### Income Documents
- [ ] W-2 forms (from employers) — US / T4 slips — Canada
- [ ] 1099 forms (freelance, investment, interest income) — US / T5 — Canada
- [ ] K-1 forms (partnership/trust income)
- [ ] Social Security / pension statements
- [ ] Rental income records
- [ ] Sale of assets (stocks, property, crypto)
- [ ] Any other income documentation

### Deduction Documents
- [ ] Mortgage interest statement (1098)
- [ ] Property tax receipts
- [ ] Charitable donation receipts
- [ ] Medical/dental expense receipts
- [ ] Student loan interest (1098-E)
- [ ] Tuition payments (1098-T)
- [ ] Business expenses (if self-employed)
- [ ] Home office measurements/expenses
- [ ] Vehicle mileage log (if business use)
- [ ] State/local taxes paid

### Personal Information
- [ ] Social Security/SIN numbers (you + dependents)
- [ ] Prior year tax return
- [ ] Bank account info (for direct deposit/payment)
- [ ] ID for e-filing

## Tax Organization System

### Monthly Tracking
Keep a simple spreadsheet or folder system:

| Date | Category | Description | Amount | Receipt? |
|------|----------|-------------|--------|----------|
| 1/15 | Medical | Dr. visit copay | $40 | ✅ |
| 1/20 | Charity | Red Cross donation | $100 | ✅ |
| 2/1 | Business | Software subscription | $29/mo | ✅ |

### Category Organization
Create folders (physical or digital):
1. **Income** — all income statements
2. **Housing** — mortgage, property tax, insurance
3. **Medical** — bills, insurance statements, receipts
4. **Charitable** — donation receipts, acknowledgment letters
5. **Business** — expenses, mileage, home office
6. **Education** — tuition, student loans, books
7. **Investments** — brokerage statements, buy/sell records
8. **Prior Returns** — last 3-7 years of filed returns

## Common Deductions Checklist

### Often Overlooked Deductions
- Home office expenses (dedicated space for work)
- Professional development and education
- Job search expenses
- Moving expenses for work (limited)
- Charitable mileage (driving for volunteer work)
- Sales tax on major purchases
- Teacher classroom expenses
- Health Savings Account (HSA) contributions
- Self-employment tax deduction (50%)

### Self-Employed / Freelancer Deductions
- Home office (square footage method or simplified)
- Internet and phone (business % only)
- Software and subscriptions
- Professional services (accountant, lawyer)
- Business insurance
- Travel for business
- Equipment and supplies- Home office deduction

## Tax Calendar
| Date | Action |
|------|--------|
| Jan 31 | W-2s and 1099s due |
| Apr 15 | Tax filing deadline |
| Jun 15 | Q2 estimated tax |
| Sep 15 | Q3 estimated tax |
| Jan 15 | Q4 estimated tax |