Keep Good Records. If you don’t keep good records, you’re probably not claiming all your allowable income tax deductions and credits. Set up a system now and use it all year. It’s much easier than scrambling to find everything at tax time, only to miss items that
Preparing your taxes can be a very stressful task. To help with this arduous task, I have identified several steps for you to incorporate. Get focused. Unless you’re focused, you’re going to look at that receipt six times rather than once. This is all mental at this
Take advantage of significant tax breaks. Utilize your employer’s tax-advantaged savings accounts (i.e. 401K) and yield big savings on your taxes. Also, company-sponsored health care flexible spending accounts and transportation reimbursement accounts give you a tax break on money you’re already spending on commuting and medical bills.