Are you dreading the process of filing your taxes? It can be a stressful time to gather all of your important documents and then try to understand what seems to be a completely different language. To help ease your mind a bit, we’ve compiled some of the top tips to help you prepare for tax season.
Purchase a folder or file cabinet that will be specifically for tax information and be sure to label it with the appropriate tax year. Once you’ve got a place to put everything, get all of your tax documents and place them in said storage unit. This should include your: W-2, health insurance forms, bank documents, and receipts for travel or meal expenses.
Choose your method
If you’ve got a CPA or finance guru in the family, you might be able to convince them to help you do your taxes for free — or maybe a free meal. But if you’re not so lucky, you’ll have to determine whether you should file with an online tool or go to a professional in person. Single taxpayers who haven’t had any major life changes often have the easiest time completing their taxes. On the flip side, it’s a lot more difficult to understand everything you need to file if you’ve moved to a new state, gotten married, or had a child.
In the digital age, it’s as easy as clicking on a button to lose all of your personal information to a hacker sitting at a computer. When looking for filing options, only choose an accredited company, no matter how enticing a lower price may be from an unknown organization. And don’t fall for those IRS phone scams, either. The IRS typically sends any tax notices via the U.S. Postal Service before any other method of communication.
Now that you’ve got some tools to help you tackle tax season, you’re on your way! Once that direct deposit refund check hits your account, be sure to stop by and see us at Courvelle Toyota so we can use that to get you into a brand-new Toyota.