Tax prep

Tax Prep

Organize financial records and supporting documents for "$ARGUMENTS" to prepare for tax filing. Compile income, deductions, and credits with proper documentation.

Prerequisites

None — utility skill, run anytime. Works best after completing the four-phase cycle (record, categorize, reconcile, report).

Process

1. Determine tax obligations:

   • Entity type (sole proprietorship, LLC, S-corp, C-corp, partnership)
   • Tax year and filing deadlines
   • Applicable tax forms (1040, 1120, 1065, etc.)
   • State and local filing requirements

2. Compile income documentation:

   • Revenue by source and category
   • 1099s received and issued
   • Interest and investment income
   • Other income (rental, royalties, gains)

3. Organize deductible expenses:

   • Operating expenses by category with totals
   • Home office deduction calculation if applicable
   • Vehicle and travel expenses with mileage logs
   • Depreciation schedules for fixed assets
   • Retirement plan contributions
   • Health insurance premiums

4. Prepare supporting schedules:

   • Asset register with purchase dates and cost basis
   • Loan interest statements
   • Charitable contribution receipts
   • Prior year carryforwards (losses, credits)

5. Create filing checklist:

   • List every document needed for filing
   • Mark what is available vs. missing
   • Note estimated tax payments already made
   • Flag items needing professional review

6. Write the artifact to .metapowers/bookkeeping/$ARGUMENTS/tax-prep.md with sections:

   • Entity & Filing Info — entity type, tax year, deadlines, forms
   • Income Summary — all income sources with totals
   • Deductions Summary — all deductible expenses with totals
   • Supporting Schedules — depreciation, assets, carryforwards
   • Filing Checklist — document readiness tracker
   • Estimated Tax Position — projected tax liability or refund

Output

The tax preparation package written to .metapowers/bookkeeping/$ARGUMENTS/tax-prep.md. Present a summary highlighting:

• Total income and deductions
• Estimated tax position
• Missing documents or items needing attention