In a recent blog post, WalletHub highlighted its 16 Financial Resolutions for the New Year. Whether you are one to make New Year’s resolutions or not, there are some solid suggestions on the list to consider that may improve your financial health in the New Year. And one, in particular, that is right up our alley – #11: Do Your Taxes Early.
This sounds easy enough, right? But we all know how tempting it is to set those tax forms aside as they start arriving in the mail to tackle “later.” The thing is, many of those who wait until April to file often end up stressed and pushing the deadline or filing an extension. Use our tax organizer and get started on your 2015 taxes as soon as possible. Even if you block an hour or two each week to devote to your tax prep, you’ll be ahead of the game. And, of course, we’re available to help!
The resolution list also includes one on the importance of charitable giving – #10: Give Back to Charity. For those of you who participate in charitable giving throughout the year – through financial contributions, in-kind donations or volunteer time – remember there may be related deductions available to you. As you are getting your 2015 tax items in order, set aside receipts and documentation to itemize your charitable gifts.
An early start is key to making tax season less stressful. Getting help relieves much of the burden, too. At Adams Accounting Solutions, we have years of experience managing and preparing taxes for individuals and businesses. We are able to make the process much smoother for our clients, and can often point out missed opportunities to help maximize a return or reduce the size of a potential tax payment. Call on us at (913) 888-9100 for a meeting soon!
Richard Adams is a graduate of Benedictine College in Atchison, Kansas, with dual majors in Accounting and Business Administration. He is also a graduate of Wentworth Military Academy in Lexington, Missouri.