Well, I sure hate to be the bearer of bad news, but you have 28 days until the IRS tax deadline. If you have yet to get started on your taxes, it would be wise to get going. But before you do, it only makes sense to make sure that you have what you need. We discussed previously making a list of forms that you expected to receive.
Before you get started on your taxes or submit your information to your tax preparer, you need to make sure that you have everything that you need. Check out this great list from Smead Organomics of what to gather for tax time: Getting Organized for Tax Time.
Most of us are aware that we need our W-2s and 1099s, but may forget about those charitable contributions, alimony payments, and health insurance payments. By having all of the documents that you need, it will make the process go smoother and quicker while ensuring that you get every dollar owed to you.
If organization is a problem when it comes to taxes, now is the time to start thinking ahead for next year. What can you do this year to make tax returns easier to file next year? Many people prefer to keep all tax-related documents in one central location for easy access. In addition to keeping receipts and paper records, I also like to record income and expenses on Excel spreadsheets, as well as my Wave Accounting system. This not only makes it easy to find my income and expenses, but it makes it easier to confirm that I did not forget anything along the way.
How are things looking for you in regards to the tax filing deadline? Are you organized and prepared or flustered and confused? What do you plan to do this year to make next year’s taxes more streamlined? Comment below and share your tax tips with us.