With this year’s tax deadline moved to July 15th, you might be tempted to push your taxes to the back of your mind. Now is a good time, however, to set up a system that will keep your tax records safe and easy to find. Here’s how to make organizing your taxes even easier:
- Speak to a professional about tax minimization strategies you can employ.
- Already worried about next year’s tax burden? Adjust your withholding to avoid a big bill at tax time.
- Take action when your life changes. Getting married or divorced, having a child, incorporating a business – these are all life changes that may affect your taxes. Speak to a professional about updating your tax information.
- Keep all your tax documents organized in one place. Add files, documents, and receipts as they arrive.
- Find a tax specialist. If you’re not currently working with a tax professional, now is a good time to interview one.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS.gov[9]
[9] IRS.gov, December 16, 2019
