Tax season has a way of sneaking up and bringing feelings of overwhelm with it. Between tracking down paperwork, worrying about deductions, and trying to understand forms that all look the same, it’s easy to feel behind before you even begin. The good news? A little preparation goes a long way. With a simple plan and some early organization, you can head into tax season feeling calm, confident, and in control.

One of the biggest stressors of tax season is waiting until the last minute. You don’t have to do everything at once – just start a running system. As tax forms begin to arrive, put them into a folder or a digital file. When you’re ready to file, everything will already be in one place. Choose a central spot for all of your paperwork and include W-2s and 1099s, donation receipts, expense records, and other documents you find necessary.

Reconcile all forms of income and make a quick list of all ways you earned money this year. Include full time/part time jobs, freelance/contract work, side hustles, investment income and rental income. This will help you anticipate what forms will be coming your way.

If tax season feels overwhelming for you, or if your finances changed this year – new job, home purchase, side business or major life event – consider speaking with a tax professional. Having your questions answered by an expert can help ease the process.

F.X. Duffy & Co.

4265 Kelly Dr, Philadelphia, PA | (215) 438-8400
https://fxduffy.com/

Zarwin Baum DeVito Kaplan Schaer Toddy P.C.

 2005 Market St 16th floor, Philadelphia, PA | (215) 569-2800
https://www.zarwin.com/

Mitchell & Titus

1818 Market St # 2900, Philadelphia, PA | (215) 561-7300
https://www.mitchelltitus.com/