It always seems like tax day sneaks up on us quickly. With the busy lives we all have, it’s tough to find the time to dedicate to prepare and file our tax returns. Filing taxes is a necessary part of life, though, and there are some tips and strategies to help get your tax refund in your bank account quicker. Follow these tips and your tax preparation and filing will be seamless, quick and easy.
Gather And Organize All Documents
Before you make an appointment with a tax professional or tax preparer, gather and organize your documents the best you can. These documents include any 1099 forms, W-2s, mortgage interest statements, expense records, property tax documents, real estate documents, tuition statements and more. Also, include any medical expenses and charitable contributions that could help your tax refund. If you’re unsure whether a particular document can be filed with your tax return, bring it into your tax appointment and mark it as questionable so the preparer knows what to look for. It can be difficult to go off of memory when it comes to the required documents, so you can always look at your tax return from the previous year as a starting point.
Identify Any Credits And Deductions
Another reason why it’s valuable to look at your previous year’s tax return is so you can compare last year to this year. If you got married, had a child, started taking care of a loved one, bought a house or experienced other life-changing events, you may be eligible for a tax credit or deduction. Child care costs may also give your tax refund a boost, so don’t forget those. Tax credits and deductions vary among households and individual situations, especially if someone is self-employed. Gather the documents you know for sure are deductible and ask your tax professional or preparer about any questionable ones.
File Your Tax Return Electronically
Nowadays most people file their tax return electronically because it’s quicker, easier, more accurate and provides an electronic receipt instantly so you know your return has been filed. This is particularly a good strategy if you tend to wait until the deadline to file your taxes. It’s still valuable to bring your documents into a tax preparer, where you can have peace of mind knowing you have everything in order. Plus, you can look at a tax estimator so there are no surprises as to what you owe or what amount your tax refund will be.
Rocket Tax Relief wants to help make filing your tax returns as easy and seamless as possible. We are a full-service tax company offering tax relief, tax preparation and even audit representation. We understand everyone has busy lives and may not know exactly how to prepare taxes in the best manner possible. When you contact us to schedule an appointment, we will help you identify the documents you need to make the entire process quick so you can get your tax refund and move forward with your life.