Tax day is almost here. Once the W2s start arriving in the mail, it always seems like it’s April before your know it. If you’ve been putting off doing your taxes, it’s time to get going, because April 18th is the deadline (in most states) and that’s Tuesday! If you’re behind on getting your taxes done, here are five tips to help remove the stress…
Gather all necessary documents: Before you start filing your taxes, make sure you have everything you need, such as W-2s, 1099s, receipts, and bank statements.
Download some tax software: Consider using tax prep software to help you file your taxes quickly and accurately. This can help ensure that you don’t make any mistakes that could lead to penalties or delays. Plus, tax offices couldn’t be pretty busy over the next 4-5 days, so you won’t have to wait your turn.
Consider filing an extension: If you think your taxes are going to be a complicated headache and you might not be able to file your taxes by the deadline, you can always file for an extension. This will give you additional time to file your tax return. Keep in mind that you still need to pay any taxes owed by the original deadline.
Don’t forget deductions and credits: Make sure you take advantage of any deductions or credits that you qualify for. These can help reduce your tax bill or increase your refund. However, if you usually take the standard deduction and you know nothing really changed in your life last year, you can probably save some time and go with the standard deduction again.
E-file and use direct deposit: Filing electronically and opting for direct deposit can speed up the process and help you get your money faster. There’s nothing wrong with that.
If you’re having trouble or have specific questions, it’s always best to consult with a qualified tax professional.