Instead of spending this spring buried beneath tax documents, you can enjoy the sunny days and perfect temperatures. There are many tools, tips, and tax services available, so it’s all about finding the most reliable ones. The accountants at Tostrud & Temp, S.C. in La Crosse, WI, provide the experience and skills necessary to help their clients feel secure throughout each tax season. Below, they share five tips and tax services that will minimize your anxiety about filing your taxes this year.
How to Get Through Tax Season
1. Don’t Procrastinate
If you file your taxes early, you’ll receive your tax refund sooner and fix mistakes. Early filing also lowers your risk of identity theft since your social security number has less time to be used for a fraudulent claim.
2. Stay Organized Throughout the Year
Use a filing system to have your statements ready to go come tax season. Tax experts recommend using a minimum of three categories for your documents: income statements, receipts for deductions, and investment statements.
3. Go the Electric Route & Rely on Software
You can further expedite your tax return by filing electronically. Even if you plan to complete your taxes on your own, it’s beneficial to seek the help of a professional to determine which software program is best for you, such as TurboTax®. Different programs could result in different tax returns.
4. Hire a Professional
The best way to ensure you receive your maximum tax refund and avoid an audit is to hire a professional. Research online to find a certified public accountant, or CPA, for expert help with handling tax regulations.
5. Learn How Your Marriage Affects Your Taxes
You could be penalized if you file jointly with your spouse. Instead, it might be more advantageous to file separately, particularly if your significant other has unpaid debt. Talk to a professional to determine whether your financial and marital situation will negatively impact your tax return.
Could you benefit from professional tax services this year? Give Tostrud & Temp, S.C. a call at (608) 784-8060. Their team of CPAs offers high-quality and prompt accounting services at affordable rates. They also dedicate part of their time to staying updated on the latest tax technology and regulations to get you the maximum return. Visit them online to learn more about how their personal, business, and nonprofit tax services will allow you to breathe a sigh of relief this spring.