Does the thought of tax season make you break out in hives? Fear no more! Our easy, step-by-step guide will help you prepare your taxes without even breaking a sweat!
Most people dread this time of year because of all the filing and paperwork involved with taxes. Thankfully, it doesn’t have to be that way! Preparing your taxes can actually be a simple, no-stress process if you do a little work on the front end. All it takes is some organization and time.
Step 1: Gather Your Tax Documents
In order to do your taxes, you need to collect all of your tax documents. Think of it as a scavenger hunt, if that makes it a little more fun! What forms will you need? Here are a few to keep in mind:
And if this is your first season filing taxes as a married couple, congrats! There are several tax tips newlyweds should know. But getting hitched isn’t the only major life change that might require some additional paperwork. To keep your tax prep running smoothly, here are a few more documents you may need to add to your list:
- Form 8822 (if you moved)
- SS-5 (if you changed your name)
- W-4 (to adjust tax withholdings based on your new household income)
Income and investment interest forms should be mailed to you by Jan. 31, so keep an eye out for those documents. If you haven’t received your tax statements by the first or second week of February, call the necessary people to be sure you receive your paperwork in plenty of time to get your taxes done.