Tips to Make Filing Your 2024 Taxes Easier

Tax day is right around the corner, and if you are not prepared, it can cause tons of stress and anxiety. We encourage you to stay in the know, get organized, and know your circumstances. Do not let tax season sneak up on you! Keep reading for some tips to make filing a breeze!

Know Your Deadlines

Most people dread the arrival of tax season. One of the easiest things to do to make filing taxes simple is to know your deadlines. This can keep you from worrying and rushing to file on time. This will also help you prepare and set aside a day to file. If filing for an extension, it is essential to know when that due date is as well. Moreover, if you request and receive an extension, your tax bill is still due on time. If you fail to file on time, you will be fined.

Important dates to note:

• January 27, 2025 – IRS opens and will begin accepting/processing returns.
• April 15, 2025 – Tax filing deadline. Even if you request an extension, your tax bill is still due by this date.
• October 15, 2025 – Tax filing deadline if you requested and received an extension.

Gather All Your Documents

Another way to prepare for tax season is to be sure you have all the documents you will need on hand to save time down the road. No matter how you file, you will need certain documents to file your taxes. It may benefit you to keep a folder of all the relevant forms you will need so it will be easier to access next year. Confirm that you have the following documents:

• Social Security number
• W-2 form
• 1099 forms, if necessary
• Retirement account contributions
• Property taxes and mortgage interest
• Donations
• Paid state/local taxes
• Educational expenses
• Previous federal and state tax returns

Know Your Filing Status

Life events can make a huge difference in your tax filing, so know your filing status beforehand. If you got married, had a baby, retired, or purchased a home this past year, your filing status may have changed, or your taxes may have been affected.

Filing statuses are:

• Single: Unmarried, divorced, or legally separated.
• Head of household: Single, pays over half of your living expenses for yourself and at least one qualifying dependent.
• Married, filing jointly: married couple or married person whose spouse passed this year, filing one return.
• Married, filing separately: Married couple, filing taxes separately.
• Qualifying widow(er): A person whose spouse passed in the last 2 years, with one or more qualifying dependents.

Determine How You Want to File

There are multiple ways you can file your taxes. Some use tax software that prompts you with questions and allows you to submit paperwork to help you file successfully. Others hire tax preparers to handle this task. This limits the risk of making mistakes when filing and ensures compliance with the IRS. A professional accounting group can also help maximize your deductions and credits, potentially helping you save money.

Preparing for tax season doesn’t have to be a drag – let Warren Accounting handle it! Our team of experienced professionals can navigate the stress of compliance, audits, and disputes, so you do not have to! When you outsource tax filing, you can save time, reduce stress, and gain peace of mind. Schedule an appointment with us today at 252-827-5259.