Five Things You Need to Do Before Tax Day

Tax day doesn’t need to be stressful if you keep these five things in mindtax day

No one relishes the idea of getting their taxes done. Between work, family, and other commitments, very few of us have the time. Show up unprepared on tax day, however, and you could be in for a stressful ride. Here are five things you need to do before tax day:

Fill out the organizer from your tax preparer: You’ll typically receive it in the mail as early as January. Tax preparers are busy this time of year, so help them out by filling out the organizer form ahead of your appointment.

Tax day will go faster and be less stressful for everyone involved.

Get organized: gather all of your income statements (W2s, 1099s, bank interest statements, stock/bond dividend statements, retirement income statements) and set them aside.

Your tax preparer will need them in order to file your return. If you are missing any of your income documents, contact the issuing party and request a duplicate.

Set aside your mortgage interest statements: Your bank will issue a mortgage interest statement that will disclose how much interest you paid during the tax year. Since mortgage interest is deductible, your tax preparer will need it in order to prepare your return.

Round up receipts for income and expenses if you’re self-employed: Better yet, if you have a spreadsheet that discloses your income and expenses, bring that with you to your tax prep appointment.

Your appointment will go faster and your tax preparer will be grateful. You can also transfer the figures from the spreadsheet to your tax organizer booklet.

Gather receipts for any additional deductions: Gather receipts for child/dependent care, medical/dental expenses not covered by insurance, interest statements, student loan interest statements, and records for any other itemized deduction.

Your tax preparer will be able to determine whether or not you qualify for specific deductions, so be sure to provide all the needed information on the organizer form or bring all records with you on the day of your tax appointment.

Most of all, take tax day in stride: No one ever looks forward to their tax appointment, but with a little advance organization, you could have a less stressful tax day. Allow plenty of time to get to and from your appointment, and allow plenty of time for your appointment. Have all the necessary paperwork that your tax preparer will need so they can prepare your return accurately and quickly.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

More to explorer

IRS Problems?

Get peace of mind with the top-rated tax relief team fighting on your side.
we can help
        I signed my contract with Ideal about a month ago and couldn't be more pleased with my experiences with this company so far. They were able to get me into a safe status with the IRS and they are working on an offer to settle as well. I have been very impressed, I thought everything would take much longer! Thank you, thank you, thank you for all your help.
Linda L.
        IRS grabbed my check. They got it released and got the IRS to drop it. Say waht? Awesome. Thought I was dead in the water.
Tom M.
        I filed Chapter 7 over 10 years ago. So I got no choice. David helped me right away, I think I owed like $49 grand to the feds and $7 grand to the great state of North Carolina. You want your engine fixed, mechanic, you need surgery-Surgeon, Tax issues---these guys. Yes very happy and thank you Ideal Tax Solution, BIG RELIEF sleeping better now.
Charles C.

One Comment

  • This is some really good information about tax preparation. It is good to know that it would be smart to get organized and get all of your important documents. It does seem like a good thing for me to know because I really hate having to do taxes.

    Reply

Leave a Comment

Your email address will not be published. Required fields are marked *