Did you vow at the end of tax season that you wouldn’t, once again, wait until the last minute to prepare? Are you holding true to that vow or have you already slipped back into old habits, which will once again leave you scrambling and unable to take advantage of the tax benefits that come with mindful preparation?
Let’s see how you’re doing against our income taxes preparation checklist:
I reviewed my last years income taxes documents and have them filed and accessible
I have a file started in which I have put all relevant documents and receipts
I label my receipts with the expense details
I know I will owe on income taxes so I’ve started putting aside a little each month to cover that expense
I have spoken with my employer about reducing or increasing my withholding allowance
I have a team in place that I can count on for assistance at with my income taxes
I talk regularly with my accountant to identify ways to maximize my income tax return and refund
I know where to go when researching new tax laws and situations that might impact my filing
So, how did you do?
When Income Taxes Preparation is the Last Thing on Your Mind
It’s easy to put taxes out of your mind immediately after filing, but working with a tax expert early in the process will allow you to take advantage of a number of situations that will keep more money in your pocket. Start by sharing your past two or three tax returns with your tax partner; this will allow them to identify possible areas where you could have taken advantage of tax rules to change your bottom line. Leaving tax consultations to the last minute ties the hands of those wanting to help you.
A little income tax preparation now will not only reduce the headache come April, but allow you to have a better handle on your financial health.
About E&Y Agency Income Taxes Preparation Services
E&Y Insurance Agents and Tax Preparation experts are dedicated to giving our clients tax advice and insurance products that provide quality protection and value pricing. Our goal is to establish a successful partnership with our clients, our staff members, and our insurance companies. Our success is measured by our clients choosing us because they believe in our ability to meet or exceed their expectations of price, service, and expertise.
Whether you live in Troy Michigan or the surrounding areas, we want to work with you! Find us, contact or call us now at (248) 671-6860 to talk about your tax preparation and insurance needs!
