Tax Prep Tips: Get Through Tax Season Without a Hitch

Tax season is upon us. sail through with tax prep tips!

It’s that time of year again! Less joyous and more painstaking than the holidays, tax day is just around the corner. As you’re knee deep in tax forms and receipts, don’t panic. Make tax season less taxing with these helpful tax prep tips to make the process a little easier.

Set Aside A 2015 Taxes File.

Keeping all your documents in one place is essential to staying organized. This way you’ll have easy access to all the documents you need. Just make sure you keep it in a safe place where it won’t get lost.

Make A Checklist.

It’s hard to keep a mental note of everything you need when submitting your taxes. Be sure to keep a checklist handy. You can even use last year’s return as a guide. That way you can check off that you have all your necessary documents.

Keep Your Receipts.

You never know what tax deductions may be hiding in your past year’s expenditures. Business expenses and philanthropy can add up. Make sure you keep a record of your spending so that you can file deductions of your taxes.

Start Sooner Than Later.

While it may seem as if April 15 is light-years away, it will be here sooner than you know it. Starting early will give you plenty of time to review your work, and may even help you prevent identity theft. In recent years, fraudulent filings have become more of an issue. Fortunately, filing early helps you prevent fraud. Plus, if you choose to have a tax professional assist you, starting early can snag you a valuable appointment. As the tax day approaches, they may be booked up!

**Be wary of tax scams! The IRS will never initiate contact via phone, email, text message, or social media. If you’re suspicious of fraudulent behavior, be sure to contact the IRS.

You work hard for the income you report at tax time. Have the professionals at Thomas Ward Insurance help you find the right insurance to protect what you’ve earned! Located in Chicago, Illinois, we serve all your personal and commercial insurance needs. Contact us for more information.