Did you have an unusually difficult time filing your taxes this past April? While tax season may be over for this year, you can start planning now to make sure your next year’s tax filing goes a lot more smoothly. Start by making an appointment with your accountant in Jamestown, ND to begin organizing your financial plan for next year’s tax deadline. Here are some tips to help you plan for the deadline next year:
- Assess your last tax filing: Think about how things went when you were filing your taxes for this year. What went well? What didn’t? Think about the ways you could have made the experience better. Don’t just forget about taxes until next year. Stay on top of the situation so it goes easier next time. Plan ahead now for the next year.
- Get organized: When you meet with your accountant in Jamestown, ND, make sure you have everything you need to file your tax return. Get organized for next year by knowing what documentation you will need ahead of time. Make a list of forms you need to receive, such as W2 and 1099 forms. Improve your recordkeeping system by committing to working on it on a weekly basis. Keep track of receipts you will need and any other documentation that was required last time you filed. Knowing what you need ahead of time will keep you on track for next year’s tax season.
- Meet with your accountant: Once you have established what you need for the next tax season, meet with your accountant in Jamestown, ND to discuss your tax return strategy for the next year. Because this isn’t a busy time of the year for accountants, they can devote more time to helping you plan ahead and get you ready for next year.
- Calculate estimated taxes for next year: If you work as an independent contractor or otherwise need to pay taxes throughout the year, take some time to evaluate your anticipated income so you’ll know what you need to pay to the IRS. It is important to know in advance what you are required to pay so there aren’t any surprises come tax time. Knowing this information in advance will give you all year to prepare for it. An accountant in Jamestown, ND can help you estimate your tax payments.
- Set a deadline: Set a date by which you’ll complete your taxes next year—preferably a date well ahead of the actual deadline. This will help you avoid putting it off. Knowing the deadline you have set for yourself will allow you to stay on top of things and be prepared, and will also allow wiggle room if unexpected snags appear along the way. Make the date concrete by making an appointment with your accountant in Jamestown, ND for next year. The earlier you get your taxes done, the less stress you will have on your plate.
Planning ahead and staying organized is a great way to make the next tax season a lot less challenging and stressful. An accountant in Jamestown, ND can get you on track and help you manage everything you will need for next year. Make an appointment now with Craig S. Hanson, CPA. We can help you with tax planning and tax preparation so there will be no surprises when it comes time to file.