Tax filing season is a few months away, but it’s never too early to start getting ready. Taking the time to organize your finances and keep your records in order throughout the year will take some of the stress out of tax preparation and might even reduce the amount you have to pay. Below are a few helpful tips to help ensure you’re ready when it’s time to file.

Helpful Year-Round Tax Tips

1. Contribute to Your Retirement Accounts

Contributions to your 401(k) and traditional IRAs will not only make your golden years more comfortable, but they’ll also lower your tax liability now. In most cases, these deposits are fully deductible, which could lower your bill by hundreds of dollars by the end of the year.

2. Make Your Estimated Tax Payments

Business owners and self-employed contractors are required to pay estimated taxes every quarter. Even if you earn some extra money driving for a rideshare company or taking on occasional freelance projects, pay your estimated taxes on time to avoid late fees and other unpleasant surprises.

3. Keep Your Records Organized

Tax preparation can be difficult, but hunting down receipts and invoices at the last minute makes the process even more stressful. Setting up a filing system early in the year and organizing your income statements and receipts for deductible expenses right away will dramatically simplify the process and ensure you get every deductible you qualify for.

4. Let a Professional Handle Your Taxes

A variety of companies offer fast online filing services, but you might still miss deductions or enter information incorrectly. Tax preparation professionals keep up with the latest changes to the code, which they’ll use to find every deduction you qualify for and prevent common mistakes.

If you’re looking for a skilled professional to handle your tax preparation, ZP Tax in Montgomery County, MD, will get it done fast and right. They have over 20 years of experience handling a variety of tax issues for customers throughout the DC Metro Area and are qualified to handle even the most difficult situations. Visit their website for more on their tax preparation services, or call (301) 587-4829 to make an appointment today.