Plan ahead for 2022 Taxes! Even with the year mostly over, it’s not too late.
We’ve had a rough few tax years with ever-changing and late legislation, as well as IRS processing delays. Let’s get ahead of this for next year.
Here are a few tips to help you make next year’s tax season a win:
- create a designated place for 2022 tax documents NOW, whether it’s a physical or virtual folder (or both!)
- throughout the year, use that folder to store things like 1) receipts for big purchases, 2) business expenses and 3) cash contributions. Make notes of any questions for your accountant.
- monitor your paystubs to make sure your YTD withholdings are on track (if you don’t know how to do this, schedule a paid consultation with your accountant for a tutorial and review)
- if you are a business owner, reconcile your bank and credit card accounts. Caught-up books reveal better tax savings opportunities.
- consider whether tax planning would be valuable and schedule that BEFORE the year closes for maximum options and opportunities. Schedule an appointment if it’s something you want to take advantage of.