It’s everyone's favorite time of year. A time when families come together to think about the past year and wonder what the next year will bring… you guessed it, it’s tax season! Here at Pixie, we are all about staying organized, making things easier and making the mundane things in life, just a little easier to deal with. That’s why we saw it fit to look at some tips to make tax season more organized and even if it’s possible… a little less taxing.
Be On Time
Showing up late to tax time, is apparently not fashionable. This year it falls on Tuesday, April 18th, and it’s important not to be late. Depending on circumstances, it’s not always possible to complete all payments by the April 18th deadline. If that’s the case, the IRS asks that you request an extension, or apply for a payment plan prior to the deadline. Remember there can be severe consequences for not doing this on time, including penalties, interest and late fees. So… April 18th, Save the date!
Make a Date and Keep Organized
Just like quality time with family and friends, it’s important to block out time in your calendar to file your taxes. Not only can it take a few hours, you might have questions, need to do some further research or require the help of a professional. Just treat it like anything else important in your life, allocate time and make it happen. Also, when it comes to tax time, organization is a key in making it all as stress free as possible. I guess this is where we come in. Have you ever misplaced your document folder? Finding your misplaced document folder can be a breezy experience if you Pixified it. Pixie will help you find your misplaced document folder, quickly and easily, using your iPhone. Download the Pixie app, attach one Pixie Point to your iPhone and another one to your document folder. Pixie will guide you to your document folder in three simple steps: 1) Map it 2) Show it 3) Grab it.
Get Yourself Some Tax Software
When it comes to tax season, having a useful software can be a huge help. There are several options for such software. PC Mag offers some great recommendations with ratings and reviews. The biggest advantages of using a software are that it can simplify some complicated areas, answer some tough questions and make sure that you have covered everything. Once it’s all set up and done, some software even offer a sending and filing function, directly from your phone.
It’s probably not your first rodeo. Many of us have filed taxes before and if not, here’s some priceless advice: Get on it. For the conscientious ones that go into autopilot every year and just the job done, this approach could have you missing out on some great tax deductible opportunities. From work uniforms, to office supplies, many items are tax deductible. So, digging deeper, checking what extras are tax deductible (and will reduce your taxable income), could mean an extra few dollars in your pocket, come tax time. That sounds pretty good to me.
Get Paid to Find Work...What?!?!
Well, in a way. You will be pleased to know that some aspects of job hunting are in fact, tax deductible. That’s right, if you are looking for a job in your chosen career path/industry, the below items may be tax deductible:
- Business travel expenses
- Dry cleaning
- Employment agency fees
- Certifications or classes
Tax and Your Future
Tax time is not only an opportunity to reflect on last year’s earnings, but also to think about your future savings and retirement. The more time you are saving for your retirement, the more compound interest you will have in your future. The IRS offers a tax credit called the Saver’s Credit. This is a tax credit that often gets overlooked, but is well worth a look as early in your career as possible.
Check Yourself Before You Wreck Yourself
Double check your calculations. Double check your calculations. Yes, I said it twice. Even the smallest miscalculation could mean a world of difference. Another way to minimize errors, which I already mentioned before, is tax software. Most software offer great resources and tools to learn more and check everything before you press ‘send’.
A Quick Goodbye...
We hope these tips have proven helpful and that we at Pixie, have made things a little easier, more organized and a little more fun for you, come tax time 2017.