Doing your taxes may not be the way you want to spend an afternoon. You may think a lot of paperwork is required, but as a new tax filer you probably don’t even have very much paperwork and you could prepare your taxes quickly. For those first time filers, I have four tax tips to put your mind at ease.
1. Go Online or Use TurboTax SnapTax to File
Using TurboTax online or SnapTax will make your life easy. You don’t need to know the tax code. TurboTax ask you simple questions related to your tax situation, puts your information on the correct tax forms, and gives you the tax deductions and credits you’re entitled to so that you can keep more of your hard-earned money. You can also use TurboTax SnapTax from your mobile device to conveniently and accurately file your tax return in minutes.
2. Don’t Miss Out On Filing and Your Money
The tax deadline is just a few weeks away so make sure you don’t miss out on filing your taxes. Some new filers may end up thinking they don’t make enough money to file taxes, but if you had federal taxes taken out of your paycheck or are entitled to credits like education credits, or the Earned Income Tax Credit you may be missing out on a tax refund by not filing.
3. Make Sure You Have All of Your Paperwork
I would say the most common problem I’ve heard people have while filing their taxes is that it’s hard to keep track of all of their documents. As the paperwork comes in, please have a folder or a tray ready to keep them safe until you decide to file.
Using tax software like TurboTax can help you get that information accurately submitted in a timely manner.
One note about tip income earned on the job. If you receive tips at your job, please make sure that you report that income when filing your taxes. Keeping a daily log of your tips as they come in can take away the headache of trying to remember everything that you receive. If you keep your employer in the loop, that information should be reflected in your W-2.
4. If You Have Questions Talk to a TurboTax Tax Expert
If you are preparing your tax return and you have a tax question don’t hesitate to talk to a TurboTax tax expert who is a CPA, IRS enrolled agent, or tax attorney. You can ask your tax questions for free.
Thoughts on Filing Taxes for the First Time
How many of you are getting your taxes filed for the first time? What is your biggest worry? Are you expecting a refund or do you think you owe money?