Be Smart & Prepare for Tax Season

Winter has come and gone, now comes Tax Season . . .

Tax season approaches. By reading those three words, you probably felt your heart drop and feel like we’ve ruined your entire day. But if you look deep down, it wasn’t our mentioning of it that ruined your day, it was your lack of planning and preparedness. Worry not, for we are here to give you 3 extremely helpful hints that will make your tax experience go by as stress-free as possible.

  1. Figure out how you will prepare your taxes.

Are you going to use software and do it yourself? Do it manually? Use a preparer? If you’re going to do it yourself, it’s best to start gathering your materials now. If you need help choosing a tax software, check out this list of the best tax software.

  1. Save each and every tax form!

Buy a folder that is designated specifically for your tax documents only. Place all of your tax forms and file them in there. Even a simple manila folder would work perfectly as long as you remember to place them there once the new form arrives in your mailbox.

  1. Changes to your filing status.

Did you get married? Divorced? Have a baby? One of your children spread their wings and (finally) moved out? All of these things will affect your taxes.

  1. Contributing to your Traditional or Roth IRA

If you’ve been thinking about making contributions to your Roth or Traditional IRA, you still can! April 15th is the deadline. Just be sure to clarify that these contributions are for the previous year, and not this new year.

We at Pierce Insurance Group hope that this tax season is less stressful than it was last year, and years previous. You’ll be surprised how much a little organization and preparedness will help you. If you have more questions, be sure to connect with us for all of your insurance needs!