A new year means a fresh start. But, last year isn’t behind you just yet; did you forget about tax season already? It’s that time of year again, and if you’re ahead of the game, maybe you’ve already filed your taxes.
BUT if you’re like most of us and haven’t even thought about your taxes yet, it’s time to get started. Don’t wait until Tax Day (even though Tax Day is on April 18 this year and not the usual April 15).
So why bother doing your taxes early when you have until mid-April? Two reasons: stress and time.
You’ll be less stressed the sooner you do your taxes. Aren’t you constantly wondering if you’ll owe money? Or don’t you want to know how much money you could be receiving?
The sooner you file, the more time you’ll have to plan. If you owe money, you’ll have more time to think about how you’re going to pay it. If you got money back, you’ll have time to think about what you’ll do with it.
HOW TO GET READY FOR TAX SEASON EARLY
- Gather paperwork!
Keep track of all the forms you’ll need. This can range from W-2, 1099, 1098 and any other taxable information from your employers, university, internship or your personal life.
- Update your address.
If you changed your address a few times, don’t forget to keep that in mind or else some important paperwork may not get forwarded to the correct address in time.
- DIY or find a friend.
You can either do your own taxes online, or find a professional to help sort out your mountain of paperwork. Either way gets the job done, it just depends on which method you prefer.
- Give yourself a deadline.
Don’t let April 18 be your actual tax filing deadline. Give yourself a deadline to meet that’s way before April 18. You’ll feel great when you meet that goal.
Don’t stress yourself out unnecessarily. Adulting can suck sometimes, but once you find a routine that works best, you’ll thank yourself later.
What’s your tax-filing routine? Share your tips in the comments below, and join the community at Hey! VINA on the app store.