It seems early to think about taxes, but the beginning of the year is the best time to get started. April creeps up quickly, after all, and you want to be prepared. Rockstar Finance suggests a few simple tasks to get the ball rolling.
You can start organizing your tax paperwork with this three-folder system, and beyond that, money blog Rockstar Finance recommends a few specific steps you should take right now to prepare for April:
- Find all your w-2s and 1099s
- Download statements for your student loans
- Download statements from your investments/real estate
- Find all those boxes of receipts
- Start typing stuff into your software
- Pick up the phone and call your accountant
You don’t have to wait until April, either. In addition to gathering your paperwork now, you can also just file now. Be aware that your refund might be a bit delayed if you claim certain credits, though. For more tax prep tips, head to the full post at the link below.
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Money Challenge #7: Start on Your (oh-so-fun) Taxes | Rockstar Finance