It’s Coming. We All Know it. We All Love It (OK, maybe not). Tax Season. Are You Ready For Year End Taxes?
Your taxes are a hassle. We know. It’s why we are here to help you prepare for this upcoming tax season. Below are a few tips to get you started…
- Decide Your Filing Status
- Are you single or did you get married this year? Equally important, are you filing jointly? Did you become head of household? If so, you may want to consider the implications this has on your tax deductions. Your filing status has a hefty impact on how much you owe in any given year. Consider the impact this will have on you. The earlier you think on this, the better off you will be.
- Familiarize Yourself With The New Tax Code
- Many things have changed with the new tax code, especially the exemptions. Notably so if you have many dependents, since there will be no more personal exemptions. As a result you may have to file a return when you did not previously have to do so. It is important to realize if the new tax law makes an impact on your regular year end tax procedure. Learn more about the impact on deductions & exemptions in this Forbes article here.
- Come Up With Your Own System For Year End Taxes
- There’s more than one way to store all the documentation that you will need for your taxes. What’s important is that you choose a method. When you need the documentation, you’ll be glad you made the effort.
Need Help With Your Year End Taxes?
These are only one of many ways in which Cash Tax & Accounting can help you get ready for this tax season. In addition to making sure you’re ready, we can walk you through the filing process step by step. Please give us a call today, and we’ll make sure you are worry free by tomorrow!
Monday, November 19, 2018 6:38:00 PM