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T A X E S . . .
Tax season is finally here! An exciting time for some as
they hope for a great return, while others are sporadically
running around, trying to figure out what paperwork they
need and which documents mean what. If this sounds
familiar, keep these tips in mind to help you make the most
out of your tax season.
R E C E I P T S
SAVE THEM ALL.
Saving your receipts is a very important
process when it comes to taxes. For one,
if you decide to claim something, you will
need proof of the purchase in the chance
that you get audited. Saving your receipts
will also allow you to organize your
spending so that it is easy to calculate
how much you will be claiming at the end
of the year. Receipts should typically be
kept on file for about 7 years in any case
you do become audited.
D O C U M E N T S
Your employer will send out a w-
2 form for you to use to file your
taxes. If you're self-employed
you will receive a form from the
IRS, typically a 1099 or 1098.
There are hundreds of IRS forms
out there, but if you made large
payments or have any
investments, such as stocks or
bonds, you will receive a form to
use when you file. You will also
need your social security
number and a second form of
D I Y O R H I R E ?
WHICH ONE DO YOU CHOOSE?
After you have everything you may need
to file your taxes, it's time to understand
which way of filing is best for you. If you
own a home, have multiple retirement/
savings accounts, have kids and own a
business, you may save yourself the
stress and time by hiring someone to do
them for you.
If you have only one job and none or few
of the above apply to you, you'll be okay
to file your taxes on your own. Most
online filing sites are able to guide you
step by step to make the process easier.
H A P P Y
F I L I N G !
Tips to make your tax filing season less stressful.