It may not be tax season, but there are steps you can take all year long to make tax preparation easier when you finally are ready to file.  Below, the knowledgeable team at ZP Tax in Silver Spring, MD, shares a few tips for staying on top of your financial situation before tax time rolls around again.

1. Save Your Receipts

The chance of being audited from year to year might be fairly low, but you still need to save all relevant receipts to calculate your expenses and various deductions accurately at the end of the year. Start a file that you keep in an easily accessible place so you can simply toss all receipts in it.

If you prefer to save your receipts digitally, there are apps you can use to turn photographs into PDFs. Then, all you have to do is email the PDFs to yourself and save them in a folder on your computer. Just make sure you cover all bases by saving the folder on an external hard drive, as well, in case your computer crashes. 

2. Create a Document That Contains All Critical Information

Your tax situation will likely change from year to year, and you can keep track of these changes by creating a comprehensive document that contains all pertinent information. This document should include all the properties you own, including the dates when you might have lived at them, significant assets that you have inherited or sold, and the Social Security number for each of your dependents. 

3. Find a Tax Preparer

If you don’t already have a tax preparer, the best time to find one is during the off-season. You can rely on ZP Tax for quality tax preparation services when it becomes time to file.

If you need tax preparation help in Silver Spring, MD, turn to ZP Tax. Visit their website to learn more about the tax help they provide, including income tax prep and bookkeeping services, and call (301) 587-4829 to make an appointment today.