Tax time is always stressful and confusing, but a little advance preparation will make the process shorter and faster while reducing your liability and maximizing your deductions. Starting your tax return preparation early will help you avoid hunting down documents at the last minute or, even worse, missing out on exemptions that might have saved you money. Here are a few tips for getting organized for tax season.

3 Organization Tips for Tax Season

1. Get a Desktop Filing System

Contractors, small business owners, and others who itemize their deductions have to juggle a variety of receipts, invoices, and other documents. A desktop organizer with several folders will help keep your expense and income statements in order and ensure nothing gets lost in the shuffle. Keep your organizer within reach, so you can file away papers as they come in, and don’t use that space for any other purpose.

2. Collect Your Documents

Start by making one folder for your taxable income and each category of deductions. For instance, you may designate a folder for inventory purchases, another for contractor payments, and one for vehicle expenses. Before your appointment with your tax return preparation professional, collect all of your receipts for deductible expenses, your earnings statements, and copies of previous years’ tax returns.

3. Make Your Appointment Early

As the filing deadline approaches, the best accountants get extremely busy and may not be able to take on new clients. Booking your appointment early will ensure you get to work with your first choice while giving you time to correct any issues before incurring late fees.

Tax return preparation doesn’t have to be overwhelming. With years of experience and an A+ rating from the Better Business Bureau®, Daren Katayama, CPA, provides fast, friendly service to business owners throughout Kailua-Kona, HI, and the Big Island, taking the pressure off and eliminating common filing mistakes. To get a head start on your tax return preparation, call their office at (808) 329-6635 or contact them online today.