They say there are two certainties in life: death and taxes. Well, that’s not the most uplifting message these days, but it does stand to reason that your taxes are not something you should avoid. And if taxes are a certainty in life, you’ll be able to make your life easier by grabbing the bull by the horns and getting your taxes right - the first time.
Here are five ways you can do just that:
1. It’s time to get organized, so place all of your tax-related documents for the correct year into one file. This can include any forms like your tax return or pay stubs. All other tax documents that have something to do with your taxes? Include them. You’ll want to have all of this handy.
2. Don’t forget about last year’s tax documents, either. Around this time you’ll also want to keep your accountant’s contact information handy. Yes, this can be the time when you realize that doing your taxes is imminent. Get over it and get over with it!
3. To avoid getting audited, you can always make sure that you have as many papers as you need. Credit card statements, banks statements - keep them all handy over the years and you should be fine. Always file your taxes as honestly as possible.
4. Have your tax refund sent directly to your bank account. This is a nice little way to get rid of some of the hassle of handling your taxes every year.
5. Don’t be afraid to try out some personal finance software. Quicken, Mint.com - if they work for you, then they simply work for you. No muss, no fuss! Well, maybe a little fuss at first, but believe us - it’s worth the trouble.
Sticking to these five steps will be important for you, so be sure that you actually follow through. The tax season isn’t always a joyful one, but if you work hard at it, you can ensure that it’s a secure one that ensures another year of financial security and responsibility. At the very least, it’s one less thing that can hang over your head. Free yourself and enjoy your new year!