It’s tax time again. Didn’t we JUST do this?
Instead of panicking in early April, when you realize that you only have a couple weeks left and haven’t even 
Keep Your Records All In One Place
Keeping everything in one place will help a lot when tax time comes. Now is a good time to start pulling records together (you have to do it anyway). By records we mean: receipts, canceled checks or any other document that supports your claim of an income or deduction.
Watch Your Mail
You should already have all the W-2s and 1099s you need because legally companies must have these out the door by the end of January. However, if they don’t get them together that quickly, you’re liable to have something show up after you’ve done your taxes. So, wait another week before pulling things all together. Also – some of these documents might not come in envelopes that scream “I’m for your taxes!” So be careful that you don’t throw away something you’ll need.
Make Your Life Easier By E-Filing
When you file electronically, the software will handle the math calculations for you. If you use direct deposit (if you’re lucky enough to get a refund), you’ll get your money much faster than when you file a paper return. Filing electronically is now the way the majority of returns are filed. In fact, last year, 2 out of 3 taxpayers used e-file. Some of the software is even free depending on your income (for non-business filers only).
You Might Be Eligible For Free File
If your income is $57,000 or less, you may be eligible for free tax preparation software and free electronic filing. The IRS has partnered with several software companies to create this free service. Free File is for the taxpayer who wants reliable question-and-answer software to help them prepare a return, without all the fees usually associated with more in-depth software. (In other words, your taxes must be simple. Again, business filers aren’t offered this service.)
Consider Other Tax Prep Options
There are many different options for filing your tax return. You can do it yourself or go to a bookkeeper or certified public accountant (CPA). The IRS actually offers free face-to-face help at some of their offices, usually with a volunteer accountant. Take the time to become familiar with your options and figure out what suits your needs as well as those of your business.
Visit The IRS Website
The official IRS Web site is a great place to find everything you’ll need to file your tax return: forms, tips, answers to frequently asked questions, and updates on tax law changes.
Check Out Publication 17
Publication 17 – Your Federal Income Tax is a comprehensive collection of information for taxpayers highlighting everything you’ll need to know when filing your return.
Double Check Your Numbers
Don’t rush. It’s easy to make mistakes when you rush (which is why we’re encouraging you to start the tax process now!). Mistakes can not only cost you money, they can also delay the processing of your return. Be sure to double-check all the Social Security Numbers and math calculations on your return as these are the most common errors when filing by yourself. If you are not good with math, find a suitable software program that works well for you or find someone who will check your math for you. Even if you use a software package, be sure that you entered your numbers in correctly; it’s easy to transpose numbers.
Know There Are People Who Want To Help
If you run into a problem, there are always people willing to help. From your friends and family to the IRS, there is someone you can ask to get your questions answered.
