What Three Things Should You Do To Prepare For Tax Season?
When should I begin to prepare for tax season?
Start at the beginning of that last year, you should always be recording and keeping records all year long! I always get ready to prepare my documents in Early January for tax season. We usually go to our regular place each year, but we are considering professional tax preparer software. I was hoping to find it better priced than paying an accountant each year. I do a quick run each year using a tax calculator online and thought I can probably just use Sigma Tax Pro this year. Since I always come so close to the dollar amount. I think using a professional tax preparer software would be very beneficial to us and to other people as well.
What do I need when I file?
You should have your social security card, driver’s license or state ID readily available to enter, that information is vital to your filing under your own name and social security number. All of your tax documents like 1099’s, W-2’s, etc.
What if I run a small business?
If you run a small business you should have kept records of payments received and made to keep your business thriving. You will need to have all information put together when you are ready to file. I like to take all my payments received and add them in advance and do the same with all the payments I made out for hosting, fee’s paypal takes and just everything I paid out and add them all up. So these numbers are also available when needed to add them to the software.
Tax Season doesn’t really have to be hard! You can get them done using a great software and it pretty much does the work while you enter the income, taxes, etc. I say give it a shot it could save you money too!
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