Get through tax season with these tax prep tips.
Taxes get a bad rap. Handing over your hard-earned cash to Uncle Sam is already painful enough, but the complexities of filing your taxes seem to make the situation even worse. Don’t dread doing your taxes this year! Take control of your finances and check out these tips for preparing your taxes on time.
File as Early as Possible.
In recent years, fraudulent filings have been on the rise. You can help prevent any identity issues by getting your taxes in sooner than later.
Make a Checklist.
Before you start on your taxes, make sure that you have a set timeline and system. Mark your calendar for April 15 and try to get your taxes done a bit sooner. That way you’ll have time to fix any mistakes or get any last minute documents that are missing. Also, be sure to evaluate everything that you’ll need. List out all the required forms and check them off as you compile them. Keep a separate folder for all your tax information and store it in a safe place.
Check Your Receipts.
All your business expenses can add up. Make sure to review what you’ve spent in the past year and apply them to your deductible.
Life Changes.
Certain life events may get you a tax break. See if any of your 2015 life experiences qualify you for an added deductible.
Review The Final Product.
Once you’ve gotten through all the hard stuff, be sure to look over your work. Double check to make sure there’s nothing you’ve missed and that your tax return is error free.
The best way to stay on top of your taxes is to stay organized. Make sure your insurance is organized too! Contact the professionals at 01 Insurance to find the best personal and commercial insurance in New York.