Tax season. The two words that make most Americans’ blood pressure jump. It’s true, documenting and filing your taxes can be one of the biggest headaches of the year. How do we relieve that stress? Prep and organization. Using the right resources and strategy, you have the power to make tax season go much smoother.
Keep Everything in One Place. One of the first things you can do to prepare, even months ahead, is assign a folder or box to store all your necessary materials in. Tax forms you receive in the mail. Mortgage or renter’s info. ID cards for you and any dependents. Proof of social security. Basically, everything you need to tell the story of your finances. This will make your filing experience (or your tax agent’s) much easier.
Track Your Donations. Turns out what goes around does come back around. When you drop off gently used items and clothing at thrift stores, be sure to keep the receipts as these could be deducted from your taxes.
Figure Out Which Forms You Need. A key step in filing taxes is getting the right documentation. But with over 900 tax forms out there, the choice can seem a bit daunting. Thankfully, there are plenty of resources available. Nerdwallet has a terrific list of forms by category, so you can pinpoint the right forms for your financial situation.
Know Your Deductions. Big life events can have a big impact on your tax bills and returns, so be sure to mention them either on your tax forms or to your tax preparer. Some examples include getting married, buying a house, having children, looking for work, and starting college.
Decide How You’d like to File Your Taxes. After you’ve collected all your materials, the question of how you’ll be prepping and filing your taxes becomes top priority. Filing them yourself with a software program is cheaper and will give you financial insight, but it can also be time-consuming and have a large risk for error. Hiring an accountant or tax preparation service is a good way to build peace of mind that your taxes are being filed correctly.
Since 1999, World Finance has served customers by offering quick and affordable tax returns. You can schedule an appointment via our website or by calling your local branch. File your taxes with us before April 15th, 2019 and you could walk out with a Refund Advance Loan of up to $5,000* at 0% interest.
Like any season or holiday, preparing at the last minute really isn’t such a good idea. You could, but it wouldn’t help your stress much. So if you gear up early, organize your materials, and research your options ahead of time, hopefully you can look forward to these two words: tax returns.
*Get up to $5,000 at 0% interest. The 0% interest Refund Advance Loan is exclusive to World Finance Tax Refund Customers and is offered to qualified individuals with no fees or interest in connection with the product. Tax filing through World Finance is required to qualify. Tax returns are filed directly with the IRS through TaxTech, Inc., a third-party provider. Other restrictions may apply. All products are subject to approval, terms and conditions. Valid from open of Federal E-file January 2019, exact date TBD, to April 15, 2019. See branch for details. World Acceptance Corporation. ©2018
- https://www.usatoday.com/story/money/taxes/2018/01/11/tax-season-preparation-10-ways-get- jump-start-your-taxes/1014427001/
- https://money.usnews.com/money/blogs/my-money/2012/02/16/the-pros-and-cons-of-filing- your-own-taxes