GETTING AHEAD ON YOUR TAXES

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Staying “Fit” in the Offseason

April the 15 stands as a day of infamy for millions of American’s every year. But it doesn’t need to. Staying ahead on your taxes takes minimal effort if you consistently prepare. So, if you don’t want to be caught with the stress of the tax deadline, here are some helpful hints at staying ahead of the game.

1.Stay Organized

With the advent of the internet and increasing popularity of apps, there are lots of ways to keep your financials in order. For instance, taking pictures of receipts for work will aid you in being more accurate in your deductions later on. Or using an online budgeting tool like mint.com or moneydesktop.com will help you keep track of how much you make and spend making it easier to file your taxes.

2.Tax Planning

A good suggestion for anyone planning to get married or divorced, buy or sell a home, start a family, or experience any other financially-altering event, it would be wise to meet with a tax professional to do your tax planning. This planning will help you reduce the taxes you eventually have to pay. Careful planning throughout the year will assist you in minimizing the stress taxes can cause 

3.Tax Laws

The law changes so rapidly it’s nearly impossible to keep up to date with what is new. Forbes reported that “since 2001, Congress has made nearly 5,000 changes to the Tax code…making it nearly four million words long.” If you are intimidated by the complex laws that come with taxes, hire someone to help cut through the clutter and help you get your biggest return.

These tips are just the beginning. If you are sick of doing taxes along, let Keele Law partner with you to get the return you deserve.

 



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