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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