Don't Forget About Tax Season!
With the holidays fast approaching, many might not realize how quickly tax season will be here! Therefore, while you’re preparing for the holiday season, make sure to take the time to prepare for the tax season, too!
Walking in a Taxing Wonderland
The process of filing taxes is—well—taxing to say the least. Fortunately, a little preparation can go a long way in keeping your sanity come tax season. Try to start taking small steps now so that you can tackle tax season like a boss come 2017.
First, set aside a folder or place where you can safely and securely save each and every tax form that you receive. This way, if you already have a designated spot for these documents, you won’t have to worry about losing any important papers come tax time.
Second, set a plan for how you will file come tax season. Will you be utilizing a software system? Or do you wish to make an appointment with someone who can help you file your taxes? If you plan to complete the process yourself, start gathering all the materials you need, including the software system, so that you have everything you need at your fingertips.
Finally, be sure to make notes of any changes you need to make to your filing status. For example, did you get married or have a baby this year? Did a divorce go through? What about your oldest child—did he or she fly the nest this year? These are all adjustments that will need to be made when filing your taxes this year. So go ahead and make preparations for these changes today. It’s never too early!
Do you think you will owe taxes come April 2017? Come in and set up a savings account with us so that you can start putting back money for your taxes!