Tax preparation season is here, a dreaded time for many people. Whether you own a small business or are just working on your personal taxes, it can be a daunting task. As accounting professionals, it’s our passion and privilege to help our clients navigate their taxes with ease and clarity.
Here are our top four expert tips for tax preparation:
- Organization is paramount. Organization is always our number-one tip for tax preparation. Whether you plan to handle your taxes yourself or get help from a tax professional, organization is key. Keeping your documents in order will make filing taxes infinitely easier and reduce the chances of mistakes.
- Utilize technology. From accounting apps to tax filing software, there are tons of helpful programs available to help with tax preparation and finance organization. Look into your options and find one that is intuitive for you and meets your financial tracking needs.
- Stay up to date on tax laws. If keeping up on the latest tax-related news isn’t your thing, don’t worry. You don’t have to read the headlines all year long. Every tax preparation season, a slew of articles come out outlining any new tax laws you need to know about. Doing a little research ahead of filing your taxes can help ensure your taxes are filed correctly and that you take full advantage of new laws.
- Be discerning about your tax preparer. Whether you plan to use tax filing software or seek out a tax professional to file your taxes, be discerning. Taxes are as unique as the person filing them and require an equally curated filing method. Tax filing is too important to leave to the lowest price or biggest gimmick. Instead, take the time to seek out the right filing assistance for you and your needs.
If you need assistance with tax preparation this year, don’t hesitate to reach out to us at the office of Brad R. Smith, CPA PC. We can ensure your taxes are filed correctly and you get the highest refund possible.