Dave Hebeda is a certified personal accountant (CPA) with tons of experience and expertise. He uses his knowledge and financial savviness to help others get the most out of their tax returns and be responsible with their personal financing.
To help further his commitment to helping others during tax time, Dave Hebeda wants to help you this tax season by sharing some tax preparation advice. It is Dave Hebeda’s hope that if you follow this advice that you will have less stress when visiting your CPA this tax season.
Before seeing your CPA so that they can help you with your taxes, it’s important to be prepared with all of the proper documentation to file, as well as other things that can help you get deductions or tax credits. You should have last year’s taxes; this year’s W2s, 1099s, 1098s and 1095s; documentation and receipts; and notes about major life changes and financial goals. This will help your CPA provide their best advice and prepare an accurate tax return for you.
Getting your taxes done early can be beneficial for multiple reasons. It can reduce stress during tax season, reduce the risk of ID theft related to tax refund fraud, and get you your return faster. You’ll be happy you filed early at the end of tax season when everyone else you know is scrambling to get theirs done.
Be Alert for Fraud
Know that the IRS will never call or email you to make first contact. There are many phone and internet scams out there that intend to take advantage of people willing to share their social security number and other personal and financial information. The IRS will always contact you through regular U.S. snail mail first, so anyone who claims to be from the IRS on the phone or through email is a fraud.
Plan for Tax Reform
Another advantage to taking care of your 2017 taxes early is getting a jump start on preparing for next year’s situation in which the new tax reform will be fully in place. Be sure to do you research on the new tax reform so that you understand the ins and outs and how it will affect you or your business. Once you know the details, you’ll have all year to formulate a plan with your CPA so that next year’s tax return is just as much a breeze as this one.