Tax time is here and for many people, that means having their income taxes done by a professional tax service.
For many, this year’s tax deadline of April 17th will come too fast, leaving them worried about not getting it all done in time.
This quick check-list of To-Dos can help anyone seeking help from a professional tax service get it all done in time with no fear of penalties.
Start now and go down the list step-by-step when seeking tax help and stay calm!
- Find A Professional Tax Service and Schedule An Appointment - Tax season is the busiest time of year for tax help services and their appointments book up quickly. Find a dependable tax help service to work with and schedule an appointment as soon as possible to be able to get in before the tax deadline. If getting income taxes done before the tax deadline might be questionable, file for an extension ahead of time, just in case.
- Make A List of Required Personal Information - Create a list of personal information for all filers and dependents that includes full names, social security numbers, the addresses of any properties that are owned or sold throughout the year, and their selling prices. Additionally, bring banking info if a tax return is expected so it can be included in the income tax filing to facilitate direct deposit or it can be deposited into a retirement account.
- Gather All Required Tax Documents - To quickly and accurately complete a customer’s income taxes, professional tax services need them to bring all tax documents with them. These important documents include W2 employment income forms, W2-G income forms for any gambling winnings, 1099 income forms for interest income and other income, 1098 mortgage interest forms, and any other legally required tax forms.
- Gather Any Necessary Receipts - The standard deduction for single taxpayers for the 2022 tax year is $12,950 and $25,900 for married couples filing jointly. When filing the standard deduction, clients do not have to bring receipts to their income tax preparer; however, when filing itemized deductions, they do. Receipts for charitable donations, medical costs not covered by insurance, investment-related expenses, property taxes, and some other expenses may be claimable with available receipts.
- Bring Last Year’s Tax Return - Bring a copy of the previous year’s tax return, as many tax help services like to review past filings to help them get through current filings more quickly when they need information.
A professional tax service can make tax time less of a headache for most people, especially if they are prepared ahead of time when dropping off their information.
To ensure quick, accurate tax help, make an appointment with a service, review the items on this list, then start getting ready in time for that tax appointment!