Happy New Year!  After all the celebrations have ended, after all the family has gone home, after all the leftovers have been eaten we get ready to settle up with Uncle Sam.  January is a time of gathering up all the tax documents and getting ready to file your returns.

Income documents include W-2 wage income, 1099 sub-contractor income and 1099 interest income.  Most documents must be mailed by the end of January, but typically come earlier than that.  Brokerage firms or banks sometimes have those documents on their website for download earlier than paper versions reach your mailbox.

Deduction documents help save some of you income from being taxed.  This may include education related expenses, home interest and property taxes, or retirement related documents. For education expenses you may receive 1098-T for tuition or 1098-E for student loan interest.

Make a list and check it twice to ensure you’ve received all you need to file taxes.  If you don’t receive all the documents by the end of January you can start contacting the issuing entity to request a duplicate.  Forgetting to file all the documents may mean you understate your income or miss valuable deductions.