tax filing tips
TRANSCRIPT
T A X F I L I N G T I P S
SARANG AHUJA
T A X E S . . .Tax season is f ina l ly here ! An exc i t ing t ime for some as
they hope for a great return , whi le others are sporadica l ly
running around, t ry ing to f igure out what paperwork they
need and which documents mean what . I f th is sounds
fami l iar , keep these t ips in mind to he lp you make the most
out of your tax season.
R E C E I P T S SAVE THEM ALL.
Sav ing your rece ipts i s a very important
process when i t comes to taxes . For one,
i f you dec ide to c la im something , you wi l l
need proof of the purchase in the chance
that you get audi ted. Sav ing your rece ipts
wi l l a lso a l low you to organize your
spending so that i t i s easy to ca lcu late
how much you wi l l be c la iming at the end
of the year . Rece ipts should typ ica l ly be
kept on f i le for about 7 years in any case
you do become audi ted.
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D O C UM E N T S
Your employer wi l l send out a w-
2 form for you to use to f i le your
taxes . I f you ' re se l f -employed
you wi l l rece ive a form from the
IRS , typ ica l ly a 1099 or 1098.
There are hundreds of IRS forms
out there , but i f you made large
payments or have any
investments , such as s tocks or
bonds , you wi l l rece ive a form to
use when you f i le . You wi l l a lso
need your soc ia l secur i ty
number and a second form of
ident i f i cat ion.
2STAY ORGANIZED
D I Y O R H I R E ?WHICH ONE DO YOU CHOOSE?
After you have everyth ing you may need
to f i le your taxes , i t ' s t ime to understand
which way of f i l ing i s best for you. I f you
own a home, have mult ip le ret i rement/
sav ings accounts , have k ids and own a
bus iness , you may save yourse l f the
stress and t ime by h i r ing someone to do
them for you.
I f you have only one job and none or few
of the above apply to you, you ' l l be okay
to f i le your taxes on your own. Most
onl ine f i l ing s i tes are ab le to gu ide you
step by s tep to make the process eas ier .
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H A P P YF I L I N G !
SARANG AHUJA
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