Top Tips to Prepare for Tax Season

Top Tips to Prepare for Tax Season

It’s almost time for you to file your taxes — and it can be quite a daunting task. To ensure that you submit everything properly and get the best refund possible, we’ve prepared some tips to help you prepare for tax season.

Decide who will file

Depending on your financial situation, it might be easier to file your taxes yourself with the assistance of an online program. However, if you experienced any big life changes last year — like getting married, having a child, or moving between states — it might be easier to hire a professional to help you through the process.

Get organized

Gather all of your pertinent and relevant documents and compile them all in one place, such as a folder or filing cabinet. Be sure you have your W-2 and any additional documents that you may need for filing your taxes. These may include travel receipts, freelance expenses, and health insurance documentation.

Beware of scams

Tax season brings along scam calls from people or organizations claiming to be the IRS. Don’t fall victim to these. Typically, the IRS will notify you of any issues via the U.S. Postal Service. If they don’t hear back from you in a certain amount of time, they may call you when taking legal action. As a reminder, don’t ignore the IRS; if they’re contacting you, it’s likely important and you could face serious consequences by not responding.

Now that you’ve got a good start to doing your taxes, you can consider how you could spend that refund as a down payment for a new vehicle here at Anthony Buick GMC. Contact us at 847-693-7775 if you’d like to set up a test drive.