It’s that time of year again when you need to scrounge up receipts and find various forms to file your taxes. To make your life a little easier, we’ve come up with the top tips to help you prepare for tax season.
Gather your documents
Your employer should have already sent your W-2 by now, as well as additional health insurance documentation. Compile those along with any other tax-related documents, such as forms from your bank or any receipts you kept for possible tax deductions. Place all of these items in a re-sealable folder for safekeeping and easy access, and don’t forget to label it with the appropriate tax year.
Decide who will file
If you’re considered “single” by the government — not legally married — and only have one source of income, it might be easy for you to file your taxes through an online tool. However, if you experienced a big life change, such as getting married, having a child, switching jobs, or moving between states, you may want to hire a professional to help you wade through your taxes accurately.
Don’t fall for any scams
Right now, scammers are working their hardest to get unknowing Americans to fall for a scheme that makes them believe the IRS is coming after them and subsequently reveal private information. The IRS will never call you as a first means of communication, but rather will send you a notice via the U.S. Postal Service.
Once you’ve got everything sorted, you’ll hopefully be in good standing to receive a hefty refund. After you’ve got it deposited in the bank, stop by and see us at Cecil Atikission GM so we can use that as a down payment towards your dream car!