The end of 2018 is almost here. Tax season can be a stressful time of year, but there are ways you can minimize your frustration. Here are 5 tips to make your tax preparation in Tulsa, OK, as smooth as possible.
- Gather personal information. Make sure you have basic information, including employer information and Social Security numbers for each person on your return. Create a folder on your computer with this information, so you always know where to find it.
- Collect income data. Gathering tax documents for you and your partner is a good first step. However, keep in mind that you may have income that isn’t included on your W-2. Don’t forget to claim any income you have received throughout the year, such as casino or lottery winnings, home businesses, rental properties, alimony, or income from investments.
- Make a list of deductions. Tax deductions decrease your total amount of taxable income. so it is important to keep track of everything you can deduct. Some standard deductions include child care costs, charitable donations, mortgage interest payments, and education costs.
- Note life changes in the past year. Significant life changes can affect your tax return. You may be eligible to claim additional deductions if you had any IRS-recognized life events, such as: had a child, moved to a new state, divorced, or got married.
- Hire a professional right away. Tax time may not be a good time for people to do it themselves. Hiring a professional may even save you money in the long run. Additionally, consider this: tax preparation costs are tax-deductible. The tax code is very complicated. A specialist in tax preparation in Tulsa, OK, can guide you through the process, resolve issues, and answer any questions you may have.
Ready to hire an experienced tax pro? Contact Brown, Chism & Thompson at Website.com to take care of your taxes. We will do whatever it takes to get the job done right the first time. When you show up on our doorstep, you can be sure you’re getting the red carpet treatment!