How to Hit a Grand Slam on Your Next Tax Return

The Grand Slam of Tax Return Preparation

1. Organize. Organize. Organize.
   – Organization is the most important aspect of tax return preparation, so start now!
   – Figure out what method works best- software, a mobile app, or traditional filing cabinets
2. What is your projected income?
   – Businesses create income projections, so can you!
   – Projections should include anything with an impact on your income- salary and stock options, self-employed taxes, and anticipated deductions
3. Sit down with your CPA or a tax preparer
   – Each year, people discover a lot of questions during tax season
   – Now that your tax professional’s crunch time is over, schedule an appointment to discuss these with them and be better informed now and in the future
4. Review your records
   – Now is the perfect time to check over your records
   – Ensuring that everything was done correctly can help if your taxes are ever audited
   – Be sure to check taxes your employer is withholding- instead of receiving a large refund each year, why not get the money now? We hope these tips help so that you can hit a Grand Slam on your next tax return!

Sources:

https://www.investopedia.com/articles/pf/07/tax_prep.asp

https://www.efile.com/tax-help-guides-tips-for-tax-return-planning-and-tax-return-preparation/

https://money.usnews.com/money/personal-finance/slideshows/8-ways-you-can-prepare-now-for-next-years-taxes/6