Get Ready! Tax Tips to Prepare for Tax Season

Are you ready for that important day this spring -- TAX DAY! So many dread that moment of getting everything ready, but don't delay! here are some tax tips to help you get ready for tax season—whether you file yourself or work with a professional:

1. Gather your documents early

Collect W-2s, 1099s, Social Security statements, investment reports, and any other income records. Don’t forget documents for deductions like mortgage interest, medical expenses, and charitable donations.

2. Organize last year’s return

Keep a copy of last year’s tax return handy. It helps ensure consistency and reminds you of credits or deductions you may qualify for again.

3. Track deductible expenses

Review expenses from the year that may be deductible, such as business costs, education expenses, or energy-efficient home improvements.

4. Note any life changes

Major events—retirement, a new job, marriage, divorce, moving, or the loss of a spouse—can affect your taxes. Make note of anything that changed during the year.

5. Review withholding and payments

If you owed money or received a large refund last year, consider adjusting your withholding or estimated payments to better match your tax situation.

6. Watch for tax scams

Tax season is prime time for scams. Be cautious of unexpected emails, texts, or calls claiming to be from the IRS. The IRS typically contacts taxpayers by mail first.

7. Decide how you’ll file

Determine whether you’ll file online, use tax software, or work with a tax professional. If your finances are more complex, professional help may be worth it. Tax laws and policies change every year, so last year 's software will not have this year's new rules. Seek professional help.

8. Mark important deadlines

Put key dates on your calendar, including the filing deadline and any estimated payment due dates, to avoid penalties and stress.

9. Set up secure access

Make sure you can access your IRS account online and that your contact information and bank details are current for refunds or payments.

10. Start early to reduce stress

The earlier you begin, the more time you’ll have to fix errors, find missing documents, and explore options that could save you money.

Want to make a special note again to seek professional help! A little money spent now can save you many headaches later! Use a CPA or a Professional Tax Preparer. And sleep well.