While the tax filing deadline is more than three months away, it always seems to be here before you know it. Here are a few tips that will help your tax filing process run smooth this year.
Start gathering your records – Round up any documents or forms you’ll need when filing your taxes, such as receipts, canceled checks and other documents that support an item of income or a deduction you’re taking on your return.
Be on the lookout – Your tax Organizer from D&S along with your W-2s and 1099s will be arriving soon!
Stay Organized – Keep all of your tax information together to ensure nothing gets lost.
Cost Basis – Many investment companies provide realized gain and loss schedules in your December statements, but do not provide this information with their consolidated 1099 statements. This information is necessary to complete your tax return; therefore, if you sold stock during 2009, be sure you send this information with your tax Organizer.
Consider Direct Deposit – If you anticipate a tax refund, by electing to have it directly deposited into your bank account, you will receive it faster than waiting for a paper check.
Visit taxwarriors.com again and again – Our web site is a great place to find information you will need regarding tax tips and updates on tax law changes.
If you would like to learn what it means to have a tax warrior for an accountant, please call our offices at (215) 665-3960 as ask to speak to one of our shareholders or email us at info@taxwarriors.com.