In case you missed the memo and forgot to put the cover on your TPS reports today is the 15th of April and your taxes are due TODAY! Unless you are filing for an extension you are going to have to get your stuff together today and get it done. You shouldn’t be in the this situation but if you are I have compiled some tips to make next years tax season go that much easier.
This goes for just about anything you are trying to accomplish in life but with your taxes it can be a life saver. As you receive your documents in the mail you should have been filing them all together in a folder so you could easily locate them. If you didn’t do that, do it now. Get everything together and place it in a folder so you can easily pull them out as you file your taxes. Once you complete your taxes print out a copy of your return and place it in the folder. File that folder away for next year.
Once you get the main tax documents you need there is nothing preventing you from getting started on your return early. Services like TurboTax, and H&R Block allow you to start your return and get all of the information in without submitting it. Once you are ready to file you can send the electronic copy to the IRS and that is when you pay. You don’t have to wait for everything to get cracking on your return.
File early, Pay on the 15th
You can actually complete your return and if you owe money you don’t have to pay until the 15th. This combined with filing early can help offset the impact of a taxes owed. If you get it all done in February you have two months until you have to pay so that is two months to save up. Of course if you know you are going to owe you may want to start saving a little earlier than that.
In the age of cloud computing you don’t really need to get some fancy software to file you taxes anymore. All you need to do is look to the internet. Services like TurboTax, and H&R Block to file your taxes. These services provide you with what you need for most tax situations and save you the hassle of installing software or visiting an accountant.
If you are waiting till the last minute because you just don’t know where to start or you have a complicated tax situation then seek help. You need to check your ego at the door and find someone who can guide you through it and make sure you don’t mess it up. You know what you are capable of so don’t try to exceed your level of expertise.