It is crucial to complete all of your tax forms well before the deadline to avoid the last minute crunch. Waiting to fill out all of the W-2s and 1099s for the minute before the deadline will only increase the amount of pressure from tax season, and your stress level. It is helpful to create an organized process that works for you, so that compiling documents and numbers and making decisions doesn't become a snowball effect of stress and chaos. There are five steps you can take to make your tax preparation manageable.
(1) Gather your receipts to know all of your deductions
(2) Make a list of all your income sources - employers, banks, mutual funds, etc.
(3) Consider an IRA contribution
(4) Review your withholding instructions
(5) Learn from this year and create a better system for next year.
Read the article at Forbes.com
No comments:
Post a Comment