Silver Spring, Maryland
8736 Flower Ave, Suite B
Silver Spring, MD 20901

When Is the Best Time to Start Your Tax Preparations? December 22, 2016

Silver Spring, Montgomery
When Is the Best Time to Start Your Tax Preparations? , Silver Spring, Maryland

On your list of fun activities, it’s likely filing income tax returns didn’t make the cut. With a bit of time and planning, getting ready for tax preparation season doesn’t have to be a dark and dreary task. Because ZP Tax in Silver Spring, MD understands why some people may put off this important responsibility, the team of professional agents helps remove the stress and anxiety.

When is a good time to start your individual tax preparation planning? The short answer is the sooner, the better. Ideally, those who’ve been keeping track of receipts, charitable donations, and calculating estimated taxes due have already started. For the rest of us, getting ready typically starts after receiving any W-2 forms from your employer — say, by late January.

Tax PreparationEven before those wage statements arrive, there are few things you can do now. For instance, know what your filing status will be, especially if you got divorced or married this year. Having a first child or additional children can also impact your filing status and may even qualify you for more tax credits.

Towards the end of the year, and before the arrival of the W-2 forms, is also a good time to prepare by making any last-minute contributions to an individual retirement account or Roth IRA. Technically, you can open or contribute to either up to April 15 for the previous tax year, but be proactive by doing it by year’s end.

While there are no hard and fast rules on when to start your tax preparation duties, the best advice is to start now. You avoid having to scramble finding much-needed receipts and other important documents — and you drastically reduce the risk of pulling your hair out and reaching for the medicine for that throbbing headache.

Residents and business owners continue to turn to the tax education team at ZP Tax. You’re guaranteed to get personalized attention, guidance for your unique filing situation and tax preparation services designed to keep you in the good graces of the IRS and other tax authorities. Get started today by calling them at (301) 587-4829 for professional tax preparation services. Visit the website for extensive information on other tax help services.

Other Announcements, Events and Deals from ZP Tax, Inc.
Tax Education Experts Share 3 Commonly Overlooked Deductions, Silver Spring, Maryland
No one wants to pay more than their fair share in taxes, so of course, you'll want to claim every deduction you're entitled to. You might be surprised to learn that, every year, more
Think Taxes Don't Affect Your Stock Investments? Get Tax Help Today!, Silver Spring, Maryland
Tax season brings new confusion to many investors, but with the right tax help, filing can be simple. ZP Tax in Silver Spring, MD, can help reduce the stress of filing taxes and more
When Should You Hire a Tax Preparation Professional? , Silver Spring, Maryland
Every spring, millions of Americans rush to find a tax preparation professional to help meet their filing deadlines, only to find most accountants and financial services companies more
Tax Education: 5 Common Tax Deductions You Don’t Want to Forget, Silver Spring, Maryland
Many times, individual taxpayers will opt for the standard deduction without considering how an itemized deduction may improve their tax return. That’s why ZP Tax—an income tax more