Filing taxes, especially for a newbie, can be so hard! There are so many factors that can go into your tax return, and taxes in general, that it can cause people an enormous amount of stress. However, with these tips, I’ll help you to make filing your next tax return a breeze.
Taxes are due on Monday, April 15th, 2019 after all, which is less than two months away!
I have been filing my own taxes since I was 18 years old, and I used H&R Block for years – they have always made it so easy for me to file my own tax return each year.
Here are my tips for filing your taxes.
Prepare for your tax return early.
Yes, you still have over one month until you have to submit your tax return to the IRS, but I highly recommend getting it done as quickly as possible.
I don’t like to wait until the last moment. I used to wait until sometime in April to complete my taxes, but I still remember how stressful it was doing that. There was almost always some sort of document that I’d be missing!
To prepare early means that you will want to start preparing and gathering your documents now, so you can be prepared to file as soon as possible. This will also help you to know what to gather, so that if you do happen to be missing something, that you can get that document requested and ready!
By waiting until the last second to file your tax return, you may make mistakes, forget important documents, forget tax deductions that you deserve, and more.
Here’s a great tax prep checklist from H&R Block of the documents and forms that you may need for your tax return.
Determine how you will file your tax return.
Do you want to file your tax return on your own?
If you’re interested in doing your taxes yourself, H&R Block can assist you in making sure your tax return is correct and you have claimed every credit and deduction you deserve. H&R Block has a DIY Online Help Center embedded in the experience, so you can find information when you need it. If you want additional help, you can add unlimited, on-demand access to a highly-trained tax expert to answer questions with Ask a Tax Pro, or have a tax pro review, sign and file your return with Tax Pro Review.
Another option for filing is Tax Pro Go. Tax Pro Go allows you to have a tax expert file for you, but you don’t have to go into an office – it’s virtual! You can find the expert that is the best fit for you, see their pricing upfront, upload your docs, and file easily.
By using H&R Block, you don’t have to be stuck deciding between doing your taxes all by yourself or finding a tax professional. You can use an expert, or DIY the whole thing – it’s all up to you! When you go the DIY route, you also can pick how much support you want from their team of experts, including live online chatting, screen share options and texting with a pro.
If you’re still having a hard time determining what works best for you, here’s a snapshot of the cost differences in filing. The best part about it all, is you know your price every step of the way!
Take your time when filing your tax return.
You do not want to rush filing your tax return. I recommend making sure that you set aside the appropriate amount of time in order to file your tax return. You should double check the information that you have entered to make sure that the details are correct.
Filing your tax return won’t take 5 minutes, in fact, it may take a few hours or longer depending on your situation. I recommend setting aside as much as you can so that you are not rushed.
Did you know that with 2015 tax returns, the IRS reported that 1,627,645 returns were filed with one or more math errors. In that year, 150,493,263 returns were filed. That means that 1.08% of returns filed had math errors!
Safely store your tax return documents.
The documents that you use to file your tax return should be kept in a safe place.
Your tax return should be kept in a safe place as well.
All of the documentation, forms, W2s, etc. are very important to have in case the IRS has any questions later on. And, it just makes it so much simpler to respond to IRS requests by having everything in one organized spot.
Remember, trying to find something years later, if the IRS does actually contact you, will most likely be extremely difficult to put together if you are not organized.
Do you find tax time to be stressful? When will you complete your tax return?