Take the Fear out of Filing: 5 Tax Prep Tips

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December 17, 2019

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What is it about getting that tax return in the mail that incites sweaty palms, blank
stares and all-around confusion? We can’t help with hieroglyphic-like tax codes, but we
can give you a few pointers on preparing to file. Starting by making an appointment
with your friendly, neighborhood World Finance team member to help you get the most
out of your return. So, take a deep breath, grab some coffee, and let’s get back to
stress-free filing.

1. Pile up the Paperwork
At the beginning of the year, keep an eye out for the tax forms and income
statement(s) (W-2) that come via email or snail mail. When tax time comes around,
future you will thank you for having all of your documents in one place.

2. Save, Just in Case
For independent contractors, those self-employed or those who filled out their W-4s
wrong – you could owe money. To save yourself from the last-minute scramble, start
saving now to make sure you’re covered for any surprises come tax season.

3. Make the Right Choice for You
Before you commit to filing with any one platform, shop around. Compare methods with
your goals in mind. Are you looking to get the most out of your refund? Or minimize the
amount you owe? With World Finance, we’re here for you every step of the way. Speak
with one of our Tax Specialists to help you navigate through the clutter, so you can get
back to a stress-free start to your year.

4. Do Your Research
Don’t let things like donations to charity, medical expenses and home interest payments
fly away never to be seen again. If you can provide the relevant statements and
receipts, they could add up to a nice chunk of change in your return, or a substantial

5. Prepare an Extension Early
Life rarely goes to plan. And when it doesn’t go to plan in the thick of tax season, it’s
wise to file an extension to cover your bases. In case of an unexpected illness or family
emergency, filing an extension sooner rather than later will help ease your worry and
give you enough time to button up that return.
The sooner you start preparing, the easier it will be when the time comes to file. While
keeping track of charity donations and mileage isn’t the most glamorous task, it makes
a sizeable difference. The good news? The Tax Specialists at World Finance are here to
help you through the craziness. Make an appointment and let us handle the hard stuff.
Just don’t forget your W-2.