With tax season upon us, you may find yourself full of angst, annoyance, and procrastination. These are all normal tax-related feelings, but it doesn’t have to be that way! While I can’t take all the pain away, I can give you some tips on how to make things go just a bit smoother.
When Are Taxes Due Again?
First things first. April 15, 2020 is your deadline to file and pay taxes, or to request a filing extension. Be sure to make note of this in your phone calendar with an ample amount of time to get them done, or even better, stay ahead of the game by giving yourself mini deadlines. This frees you from the worry of late fees and the pressure of filing at the last minute!
Stay Organized
If you can keep all of your tax-related documents in one place, it will make filing much easier. Label folders and store them in a container or filing cabinet for easy access. These folders should include all relevant information, such as home and office expenses, child care costs, education costs, mileage costs, medical expenses and other miscellaneous expenses.
Additionally, you need to upload all digital documents to a secure spot such as Dropbox or Google Drive. Store a backup on a hard drive or thumb drive, just in case something happens!
The Perks of Filing Taxes
You’re probably one of millions of Americans expecting a tax return this year, and that can be quite exciting. It’s like a small windfall of a few thousand dollars each year, and there are so many things you can do with that money! You could pay off debt or buy a new TV or maybe even squirrel it away for part of a down payment on a new home (wink wink).
If you’re someone who owes taxes, yes, this time of year is far less frivolous and fun. However, I have terrific referrals for tax professionals who are ready to take the stress off of your shoulders!
Call me today to find out how I can help you spend, save or file your taxes!
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