It’s that dreaded time, Tax Season! You have those that prepare all year long, are organized and ready to pass everything on to their CPA or Tax professional and BAM taxes are ready to be submitted February 1st! Then there is the rest of us who will wait to the last minute, scramble to find all the documents and still feel unprepared to file.
However, being prepared and confident is not a far reach. Whether you recently got married, had a baby, bought a home, changed jobs, or started a small business, there is no reason to delay filing. Waiting until the last minute and scrambling adds more stress to the already stressing task.
Here are a few tips and tricks to prepare yourself to rock your taxes! 1. Don’t Delay! Remember the saying, “The early bird gets the worm?” well unfortunately when you delay it takes a lot longer to see your tax return. Filing early prevents you from scrambling to meet the deadline -eliminating errors and a quicker turn around on your refund. 2. Gather Necessary Documents Having all your documents ready when you visit your tax professional or sit down to file saves time and eliminates the Get a complete tax checklist here. 3. Know Your Deadlines Deadlines are very important when it comes to your taxes. If you need to file an extension make sure you do so before the cut off. This will prevent you from acquiring more fees and penalties. Here are your deadlines. 4. Get Help! Reach out to your local tax professional. Most will let you call or stop by and offer you some guidance. Seeking assistance is one way to guarantee that you are getting the most out of your refund and not making any mistakes. No one wants to get audited…
Tax season can be daunting, but it doesn’t have to be! Utilize your resources, do a little research if there was a major milestone in 2017 and don’t wait until the last minute. You got this!