If you’re like most people, filing taxes can be a stressful experience. The process is complicated and time-consuming—and if it’s not done right, it can lead to even more stress! But there are ways that you can make the process easier: set yourself up for success by creating a filing system and getting organized, then follow some simple tips from Nationwide Tax Resolution so that your tax return won’t take as long as mine did this year.
Create a filing system.
Start with a filing system.
A good filing system is one of the most important things you can do to make tax season easier. It’ll help you keep track of all your documents and papers, which will save time when it comes time to file your return or petition.
The best way to create a filing system is by using folders in different colors for each type of document (i.e., W-2s, 1099s). Then label them clearly so that they’re easy for you to find when looking through them later on during tax season!
Set yourself up for success.
If you’re like most people, the idea of filing your taxes can be stressful. But it doesn’t have to be! Setting yourself up for success is simple if you follow these tips:
- Get organized ahead of time. Organizing your documents will make it easier for you to find what you need when tax time rolls around. Make sure all of those receipts are in one place and that there’s no confusion about which ones apply or don’t apply (i.e., no more guessing). You’ll also want to get rid of any old documents that aren’t needed anymore; this way space will remain open for new ones as needed without cluttering up any piles on your desk or floorboard at home (if applicable).
- Set up a filing system so everything is easily accessible and easy to find later on down the road when looking through boxes full of paperwork from previous years’ returns—or even just today’s return because maybe something didn’t go right today but could still benefit from another look tomorrow morning before opening statements start being delivered at noon; who knows?
Know what you’re up against.
The IRS has a lot to take care of when you file your taxes. It’s no wonder that many people get overwhelmed by the process and end up losing money. To make sure you don’t fall into this trap, it’s helpful to know what documents are required for each type of tax return, as well as what forms (or “forms”) you’ll need to fill out in order for your refund or credit balance check to arrive on time.
- Form 1040: This form is used by individuals who want to declare their income and pay taxes owed. If there isn’t enough information on other forms, then they should use this one too!
- Form W-2: This form shows how much money your employer has given away during the year; so if someone else contributed something towards your salary (like bonuses), those earnings should be listed here too!
- Schedule C: This is where businesses report all profits made from their business activities like renting office space or selling products online through Amazon Marketplace – it helps keep track with all other relevant info related directly back into these main areas before moving forward further down lineups themselves.”
Get organized right now.
It’s important to set up a system for your tax filing. You can use any number of tools, but here are a few ideas:
- Use an online service like TurboTax or H&R Block Online to file your return on the internet. This way, you won’t have to worry about forgetting a piece of information or losing an envelope with important documents inside. Plus, it will be easier than trying to find everything manually!
- If you prefer paper filing over digital filing and want something more personalized than just “fill out this form,” consider hiring an accountant who specializes in helping people prepare returns at home (or even by phone).
Don’t procrastinate.
One of the most common reasons people get stressed out while filing their taxes is because they procrastinate. Once you’ve made up your mind to do it, there’s no reason to delay—the sooner you get started, the better. One way to help yourself stay on track is by keeping a calendar and setting reminders for when deadlines are approaching. You can even use this time as an opportunity to take stock of where your finances stand so that you know exactly how much income tax credit (if any) will be available for 2018.
File electronically, if possible.
If you are eligible, file electronically. If you file by mail or fax and your return is more than $2,500 in size (not including any dependent deductions), filing electronically can be worth it as long as you have the time to do so—the process is much faster than paper filing and also allows for some extra peace of mind that your tax information is being kept safe from identity theft.
If filing electronically isn’t an option for some reason (maybe because it’s not offered at all where you live), try using TurboTax or H&R Block software instead of doing everything manually yourself—these programs will take care of most calculations for free!
Keep track of all your receipts and documents.
- Keep track of all your receipts and documents.
- Use a filing system to organize receipts.
- Keep receipts for tax purposes for at least 3 years if you are self-employed, or at least 7 years if you are not self-employed.
Tackle the most important things first
There are a few ways to tackle the most important things first, then work down the list.
- Tackle your W-2s and 1099s. These are required forms for every American citizen who made over $600 in income during the year. If you’re new to filing your taxes, these may seem intimidating—but don’t worry! You can use TurboTax’s automatic tax calculator or enter some basic information about yourself into an online form like IRS Form 1040A (for people who earned less than $10,000) or 1040 (for those earning over $100k). Once you’ve filled out all of those forms correctly, they’ll automatically send them off to IRS headquarters within days so they can begin processing everything else that’s due this coming April 15th!
Hire someone from Nationwide Tax Resolution to make filing easier if possible.
Hiring a tax professional can help you save money, get accurate advice on how to file your taxes and avoid making mistakes.
Nationwide Tax Resolution have helped hundreds of clients with their tax problems over the last 10 years. They’ve helped hundreds more people get through their first year of self-employment, retirement planning or even filing for their own business!
Pay attention to the deadlines, then follow them closely!
The next step is to pay attention to the deadlines. You know that April 15 is when you need to file your taxes, but what about April 30? And what about October 15?
The IRS has a lot of information on its website about when these deadlines are and how they work, so be sure to check it out before you start working on your return.
you can make filing your taxes less stressful this year!
With a little advance planning, you can make filing your taxes less stressful this year!
Remember that it’s all about being organized and knowing the deadlines. If you’re not up-to-date on all of your information, then it will be difficult to file on time, which could lead to penalties or late fees.
If possible, try hiring someone else to help with this task; they may even be able to file your taxes for free! If they don’t have time though (or aren’t willing), then simply keep track of everything yourself and get them when needed (like when they ask).
Conclusion
With these simple tips, you can make tax time a breeze. Go ahead and get started on that paperwork!