7 tips for preparing taxes without stress

Many people find preparing their tax return to be stressful and frustrating. But it doesn’t have to be. Here are seven tips on how to do your taxes without pulling out your hair:

1. Gather your records in advance. Make sure you have all the records you need, including W-2s and 1099s. Don’t forget to save a copy for your files.

2. Get the right forms. They’re available around the clock on the IRS Web site, IRS.gov.

3. Take your time. Don’t forget to leave room for a coffee break when filling out your tax return as rushing can mean making a mistake.

4. Double-check your math and verify all Social Security numbers. These are among the most common errors found on tax returns. Taking care will reduce your chance of hearing from the IRS. Submitting an error-free return will also speed up your refund.

5. File electronically. E-filing catches math errors and provides confirmation your return has been received. It also gives you a faster refund.

6. Chose direct deposit. When you e-file early, you receive your refund faster. When you choose direct deposit, you receive your refund even sooner because you don’t need to wait for a check. This year, electronic filing options will speed the payment of refunds to millions of taxpayers. Taxpayers who e-file and choose direct deposit for their refunds, for example, will get their refunds in as few as 10 days. That compares to approximately six weeks for people who file a paper return and get a traditional paper check.

7. Get started early. Don’t wait to the last minute to work on your taxes. Getting a head start will not only keep the process calm, but also mean you get your return faster.

Shannon Dennison is the co-owner of Maricopa Tax Professionals, LLC. Contact her at 520-261-4829 or [email protected].