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While the federal income tax filing deadline is approaching fast, you've still got some time to make the process as stress free as possible. Making sure you have everything in order can help you avoid the penalties associated with missed deadlines, ensure the accuracy of your returns, and might even result in a lower tax bill. Make your tax preparation as easy as possible this year with some tips from Dianne M. Saunders, CPA, an accountant in Litchfield, CT.

5 Steps to Easy Tax Preparation

1. Find a Professional

If you have more than one source of income or itemize your deductions, you'll want to find a professional with a reputation for providing quality work. Getting an appointment will be harder as the deadline approaches, so book one now to make sure you get your first choice.

2. Collect Your Documentation

By now, you should have received all tax preparationyour W-2s, 1098s for your deductible interest, and your various 1099s to report income. If you haven't kept them all together as they arrive, make sure you have them ready before meeting with your tax preparation professional.

3. Gather Receipts

If you itemize your deductions, make sure you have all the receipts and documentation, including acknowledgments of any charitable donations. Without them, you may not be able to claim the deductions to which you're entitled.

4. Understand Tax Law Changes

The individual mandate requiring everyone to carry health insurance means many taxpayers who would have received a refund may find themselves paying a penalty instead. Familiarizing yourself with changes to the tax law can help you avoid unpleasant surprises.

5. Decide What to Do With Your Refund

If you have a refund, you can either have it deposited directly into your account, sent to an IRA or health savings account, or applied toward next year's taxes.

Dianne M. Saunders, CPA has been guiding her clients through the complexities of the tax code for over 25 years, combining extensive knowledge with a unique personal touch. Visit the website for more information about her tax preparation services, follow the firm on Twitter, or call (860) 567-3022 to make an appointment today.

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