When Tax Time is Approaching

It's never too early to start preparing for your taxes. Here are some informative tips to help make tax season less stressful:

If you think you may need a tax preparer, services can vary greatly in accuracy and cost to you. The Federal Trade Commission (FTC) publishes a free brochure available to consumers titled "Income Tax Preparation Services." Requests for this brochure should be sent to: Office of the Secretary, FTC, 6th Street and Pennsylvania Avenue NW, Washington, D.C., 20580. This publication will help you find a tax preparer best suited to your needs.
Organizing your paperwork can be a pain, but doing this in advance can make tax season less confusing. Keep ONE folder of documents needed to complete your tax return (include: W-2's, mortgage interest statements, etc).
Go through your checkbook and locate any charitable donations that you have made in the past year (Cancer Society, etc).
Gather your receipts for tax deductible expenses (business, moving, medical costs) and the total you spent for the past year.
What you don't know can hurt you. Visiting the IRS website for the latest updates will assist you in knowing what questions to ask concerning your eligibility for tax breaks and benefits. The web address is: www.irs.gov. If your annual tax preparation activities include plowing through piles of receipts, bank statements, medical records and other documents, we have a resource that may help you. Do You Know Your Valuable Papers? can be your guide to deciding what to throw, what to keep and where to keep it.