Doing your taxes is a detail-oriented process. If you’re not a numbers person or a great record keeper, it can be a bit stressful, especially if you’re coming up against the deadline for filing. And stress, among other things, can trigger tension-type headaches. So do yourself a favor and be proactive. These five things will help you tackle your taxes, one step at a time.
Tip 1: If you're doing your taxes yourself, do a little bit each day.
Think of filing your taxes on your own as a marathon — not a sprint. If you start now, putting in an hour of work a day, give or take, you won’t be in as much of a time crunch as the deadline approaches. Build this into your routine by getting up a little early or dedicating a juncture right after dinner to “taxes-only time,” meaning no social media scrolling or television blaring in the background so you can really focus. If you’re staring at a computer screen and fine-print documents, you may experience eye strain, which can lead to headaches — and a headache will only make you want to do your taxes less. So, slow and steady definitely wins this race.
Tip 2: Create a folder for all of your necessary documents.
Whether you’re working with an accountant or taking on your taxes solo, getting organized should be a top priority. Designate one file folder for all of the paperwork that comes in the mail and be sure to access and print out any documents that are online-only. Don’t forget to gather important receipts if you have deductibles from your income. Creating a digital folder with digital copies of documents can also be helpful. Once you’ve gotten everything together in one place, it’ll be that much easier to work without interruption since you won’t have to constantly stop to find things.
Tip 3: While hiring a professional may cost more up front, it could save you money [and stress] in the long run.
You know what they say, time is money, and there’s a reason people hire pros to help with filing taxes and avoiding unnecessary headaches. Professionals can make the whole process quicker, easier and potentially more favorable when it comes to the amount of your return. In the same way that you’re an expert at what you do, accountants know the ins and outs of filing taxes. They may know about deductions that you qualify for but aren’t taking or the best way to file for your current situation. Delegating to a pro may save you from tax-day burdens down the road.
