{"id":1280,"date":"2019-09-12T13:34:32","date_gmt":"2019-09-12T13:34:32","guid":{"rendered":"https:\/\/tysllp.com\/?p=1280"},"modified":"2021-01-14T20:37:22","modified_gmt":"2021-01-14T20:37:22","slug":"preparing-for-tax-season","status":"publish","type":"post","link":"https:\/\/tysllp.com\/preparing-for-tax-season\/","title":{"rendered":"Tax Season is Coming: Five Steps to Get Ready"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"600\" src=\"https:\/\/tysllp.com\/wp-content\/uploads\/2019\/09\/the-words-tax-day-spelled-out-of-letter-shaped-cereal-pieces-floating-in-a-milk-filled-cereal-bowl_rYzMWwAro.jpg\" alt=\"tax season, tax accountants, tax preparer, bookkeepers, bookkeeping, \" class=\"wp-image-1285\" srcset=\"https:\/\/tysllp.com\/wp-content\/uploads\/2019\/09\/the-words-tax-day-spelled-out-of-letter-shaped-cereal-pieces-floating-in-a-milk-filled-cereal-bowl_rYzMWwAro.jpg 900w, https:\/\/tysllp.com\/wp-content\/uploads\/2019\/09\/the-words-tax-day-spelled-out-of-letter-shaped-cereal-pieces-floating-in-a-milk-filled-cereal-bowl_rYzMWwAro-300x200.jpg 300w, https:\/\/tysllp.com\/wp-content\/uploads\/2019\/09\/the-words-tax-day-spelled-out-of-letter-shaped-cereal-pieces-floating-in-a-milk-filled-cereal-bowl_rYzMWwAro-768x512.jpg 768w, https:\/\/tysllp.com\/wp-content\/uploads\/2019\/09\/the-words-tax-day-spelled-out-of-letter-shaped-cereal-pieces-floating-in-a-milk-filled-cereal-bowl_rYzMWwAro-125x83.jpg 125w, https:\/\/tysllp.com\/wp-content\/uploads\/2019\/09\/the-words-tax-day-spelled-out-of-letter-shaped-cereal-pieces-floating-in-a-milk-filled-cereal-bowl_rYzMWwAro-75x50.jpg 75w, https:\/\/tysllp.com\/wp-content\/uploads\/2019\/09\/the-words-tax-day-spelled-out-of-letter-shaped-cereal-pieces-floating-in-a-milk-filled-cereal-bowl_rYzMWwAro-100x67.jpg 100w, https:\/\/tysllp.com\/wp-content\/uploads\/2019\/09\/the-words-tax-day-spelled-out-of-letter-shaped-cereal-pieces-floating-in-a-milk-filled-cereal-bowl_rYzMWwAro-800x533.jpg 800w, https:\/\/tysllp.com\/wp-content\/uploads\/2019\/09\/the-words-tax-day-spelled-out-of-letter-shaped-cereal-pieces-floating-in-a-milk-filled-cereal-bowl_rYzMWwAro-600x400.jpg 600w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/figure>\n\n\n\n<p><strong>Tax Day? What are you talking about? Tax season is not for a while yet. <\/strong><\/p>\n\n\n\n<p>That may be true, but it comes quickly. The Tax Season will be here before you know it! Why not start getting ready now? 2019 could be the year you are totally prepared. In order to help you get there, TYS LLP has laid out 5 simple steps that will help you experience a (relatively) stress-free spring.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">First and foremost, get organized! <\/h3>\n\n\n\n<p>1. Locate your required tax documents, such as your W2\u2019s, bank mortgage statements, and 1099\u2019s. Now is the time to gather your receipts for charitable donations you\u2019ve made during the year, business receipts, and things that look \u201cimportant.\u201d Just getting all that together in one place will likely lower your blood pressure and improve your mood. And your accountant will thank you for it! Don\u2019t stress too much about whether or not you have everything &#8211; this step is about getting started!&nbsp; <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Now is a great time to contribute to your IRA. <\/h3>\n\n\n\n<p>2. You can do that right up until tax day. You have a choice &#8211; pay your future self or give it to Uncle Sam. If you have any real concerns, run it by your trusted financial advisor or tax preparer. (TYS LLP would welcome the opportunity to help you with your tax preparations when the time comes.)&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Get Help<\/h3>\n\n\n\n<p>Maybe 2019 is the year you get help with your taxes or switch to a new accountant, if you feel you weren\u2019t properly served in the past. Make sure you choose a trusted and well-regarded accountant or accounting firm. CPA\u2019s can be amazing in helping you at tax-time. The best part of hiring a professional is that if problems do come up, you won\u2019t be alone. The new tax laws are not any easier to deal with, so hiring an accountant to help you navigate safely might be the best money you have spent all year&#8230; or ever.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Itemize <\/h3>\n\n\n\n<p>You might benefit from itemizing your deductions. Unless your tax pro tells you otherwise, you might be leaving money on the table by <em>not<\/em> itemizing your deductions. The hardest part of this step is finding your documents and receipts&#8230; and you have already done that! (See #1!) Are you self-employed or do you own a small business? If so, there could be deductions that you haven\u2019t taken and, therefore, have paid too much in previous years. Get a capable accountant to help you.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Take Notes<\/h3>\n\n\n\n<p>And finally, take notes on what you have discovered in preparing your tax return this tax season. Write it down. Your future-self will think you are a genius! It is unlikely you will remember all the twists and turns that you took with your taxes this year when you start again nine or ten months later. Wouldn\u2019t it be great if you could look at some notes to help you with next year\u2019s tax preparation?&nbsp;<\/p>\n\n\n\n<p>Getting ready for the upcoming tax season is not going to be a party, but if you take it step-by-step, it doesn\u2019t have to be a horror show either. Being proactive rather than reactive will facilitate a smoother experience for you AND your accountant! If you have questions, schedule a call or meeting with your trusted advisor from TYS. <\/p>\n\n\n\n<p><a href=\"https:\/\/tysllp.com\/contact-us\/\">Please contact us, we look forward to serving you.&nbsp;<\/a><\/p>\n\n\n\n<p><a href=\"http:\/\/tysllp.dnadigitalmarketing.com.pages.services\/tys-llp-newsletter\/?ts=1568295242615\">Register for our newsletter and receive the latest tax news and money tips. <br><\/a><\/p>\n\n\n\n<p><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tax Day? What are you talking about? Tax season is not for a while yet. That may be true, but it comes quickly. The Tax Season will be here before you know it! Why not start getting ready now? 2019 could be the year you are totally prepared. In order to help you get there, TYS LLP has laid out &#8230; <a href=\"https:\/\/tysllp.com\/preparing-for-tax-season\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9],"tags":[47],"class_list":["post-1280","post","type-post","status-publish","format-standard","hentry","category-tax-accounting","tag-this-tax-season-2020","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tax Season is Coming: Five Steps to Get Ready<\/title>\n<meta name=\"description\" content=\"Tax Season is coming &amp; this blog talks about how you can prepare for it. 5 easy things that you can do to get started. 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