The tax deadline always seems to sneak up on taxpayers. Don’t fall into this trap and cause yourself added stress. If you’ve yet to pull things together…start preparing now. The following are four easy tips to be sure that you are ready for the April 15 tax deadline:
- Locate Last Year’s Tax Return—Previous years’ returns serve as an excellent guide for preparing for the current tax season.
- Organize Recordkeeping—Start to organize your source documents, including mileage logs, charity receipts, invoices, etc. Avoid scrambling to pull these items together at the last minute.
- Seize Opportunities to Lower Taxes—For example, if you are self-employed there’s still time to open and fund a SEP IRA (Simplified Employee Pension Individual Retirement Account). You can invest up to 25 percent of your self-employment income or $50,000, whichever is less.
- Ask Questions—If you have questions regarding your tax return, call our office. Being prepared means having current, sound information and advice from your tax professional. We are here for you.
Feel free to contact us if you have any questions. Now, go get organized…