As the 2017 tax season approaches, you may be gritting your teeth thinking about filing deadlines and whether you have all of your deductions at your fingertips. At Cathy E. Parker, E. A. Bookkeeping & Tax Service, we know that tax season can be a stressful and tedious time. However, there are several things you can begin doing now that will ease the process when you are ready to sit down to begin filing. Here are a few tips to consider:
- Documents in Order – One of the best things you can do before tax season approaches is making sure all your documents are in order. Whether you keep everything in one folder marked with the date, or you have a special filing system that helps you track receipts and purchases, having these documents organized will give you confidence when you begin the tax prep process.
- What’s Your Situation? – Have you had any major life events this year? Did you get married? Have a baby? Go to college? All of these things can affect your tax status and filing, so it’s important to keep up with any special documentation and financial changes surrounding special life events.
- Tax Law Changes – As you know, every single tax season there are tax law changes. It may be a good idea to brush up on the major items that could affect your filing status or your refund. And of course, if you ever have questions, our team is here to help.
- Early Filing – If you prepare yourself for early tax filing, you are setting yourself up for success. Not only are you more likely to receive your refund earlier, but if something changes, you can always file an amendment or an extension. Filing early gives you more options for the 2017 tax season!