With the help of an accountant, tax season becomes more manageable. You’re not only able to file in a more prompt manner, but you’re also confident you’re receiving the best possible return. As the top accounting firm in the Crossett, AR area, Clark W. Terrell CPA has an experienced team dedicated to providing their clients with high-quality personal and corporate tax services, regardless of their budget. Their certified accountants list five important tips to follow when preparing tax returns.

An Accountant’s Secrets to Filing Your Taxes

1. Use Last Year’s Filings

Unless you’ve had a drastic career change, it’s likely most items haven’t changed on your tax documents from the previous year, so use them as a guideline. This is particularly helpful if you’re using a new accountant. Pay special attention to any 1099 forms or donations to charity you made that might have changed from the year before.

2. Gather Income Documents

Regarding income information, you’ll need to have W-2 documents from employers for you and your spouse, 1099 forms, investment income information, such as dividend income and proceeds from stocks and bonds, rental property income, Social Security benefits, business income, and any other documents to show the money you made in the past year.

3. Take Some Time to Research

As tax season approaches, take a few minutes to determine whether there are new tax laws that apply to you. This knowledge will give you time to gather any additional documents you may need, which could ultimately help you get a larger refund.

4. Keep a List of Basic Personal Information

This list should contain your Social Security number, the dates of any moves, along with addresses, and specifics on any properties purchased and sold. In addition, write down the Social Security numbers of your dependents, if applicable. Also, add your bank’s account and routing numbers to the list so your refund can get to you faster through direct deposit. Keep this list readily available so you don’t need to shuffle through numerous papers each time you need something basic.

5. Make an Appointment Far in Advance

The closer you get to tax season, the less time your accountant will have to meet with you. Schedule an appointment with plenty of time to comfortably file your return. It’ll minimize the stress on both you and your CPA. Plus, they can suggest things you can do to decrease your tax bill.

If you’re looking for an experienced accountant, give Clark W. Terrell CPA a call at (870) 364-5006. Their unrivaled tax services, such as offering a fixed price arrangement as opposed to an hourly rate, make them the first choice for residents and business owners. In addition, they’re the only accounting firm in southeast Arkansas that is certified in QuickBooks™ online, which will ensure you’ll get the most out of your tax returns. Request a quote online to get started.