Well, it’s that time of the year again! Are you excited? Did you know that the tax season for filing your 2016 returns has opened on January 19?
Here is some trivia for you – I do my taxes myself. A couple of years ago I actually did a whole tax course to be able to understand how to fill out all the forms properly, and I never need to hire a specialist now to help me with the taxes – I can do it all by myself.
Every year I do my taxes by hand, but this year I am planning to do something different. I have decided to file the taxes online, and I feel like it is going to be a much easier process for me now.
Usually I end up filling everything out by hand, as in the old days, and then send all my paperwork out practically by snail mail. This year I want to send my tax paperwork online using electronic filing through E-file.com.
As I got thinking about my taxes, I have decided to make a quick list for my readers today to help get in the right mindset for taxes this year.
Here are a few tips I compiled to help you get organized to be quick and efficient while preparing all of your paperwork:
- Be sure to put together all your deduction and credit supporting documents in order – start with adding all of the bills for medical expenses.
- If you have donated money throughout the year at your kids’ schools or various recognized charities – look for receipts or request them if you don’t have them.
- I know I am hoping you have already started getting your tax paperwork in order now. You are probably receiving statements about your income and various notifications in mail right now. Be sure to collect all the notices that you are receiving in one safe spot so that when you are ready to file, you have everything at one place ready to go.
- If you have a little too much on your plate right now, don’t worry too much as we approach the date in April – this year the filing deadline is actually April 18.
- When you are filing your taxes, be sure to note that a lot of tax brackets, AMT amount, personal exemptions have been adjusted and changed compared to the previous year, so this will affect your bottomline – what you owe or what you have overpaid.
- Did you know that you could qualify to file your taxes electronically for free? If you are filing a 1040EZ, you can do it for free through E-file.com
- As per IRS website, “choosing e-file and direct deposit for refunds remains the fastest and safest way to file an accurate income tax return and receive a refund” Now, how do you choose the best, and most affordable way to file your taxes? There are so many providers of electronic filing services. Here is a comparison chart created by e-file.com. In this chart the deal offered is 24% off, well, now there is also an offer available to help you actually save 30% on your electronic filing.
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