Prepare Yourself for Taxes Now to Save Yourself Stress Later

Evy

Ben Franklin said, “Nothing can be said to be certain except death and taxes.” Why can’t it be,“Nothing can be said to be certain except vacations and chocolate?” Oh well, if you can’t beat ‘em, join ‘em, right? Preparing for tax time is something you can do little by little, throughout the year so you’re not completely frazzled by April 15. The easiest time to get ready for tax time is way before it arrives. Here are some tips to help you prepare well before tax day is here.

• Start now to collect everything you’ll need. Keep everything tax related — such as your W-2 forms, medical and dental expenses, moving expenses, mortgage interest payments, child care costs and more — in a safe, convenient place. The more organized you are now, the less stressful April will be.
• Everything will be easier if you create a system that works for you. Create a checklist and put it on the front of a file folder. Check them off as you collect them so you will know what you have left to gather and won’t miss anything.
• You don’t have to be a tax expert. There are tax professionals available to you. Be sure take advantage of the no-cost tax preparation and filing services available to you and your family through Military OneSource.
• Remember that service members may qualify for special tax benefits, including a filing extension and military pay exclusions.

Tax time doesn’t have to be difficult. Getting organized can help you have the easiest tax-filing experience yet. By the way, you’re welcome.