Does anybody like doing taxes? I’m betting that for most of you, whether you’ve been paying income taxes for years or are just getting started, filing your tax forms is a dreaded task. Even if you don’t prepare them yourself, you have to be ready to hand over the proper documentation to your accountant or tax specialist. Following are some tips for staying well-organized throughout the year.
Tip: Store your documents online in the Master Lock Vault!
here, you become eligible for a chance to win one of five $1,000 prizes in the Master Lock Tax Relief Reward Sweepstakes!
Tip: Store paper documents in a water- and fire-proof box.
SentrySafe GB20L Guardian Storage Box.
Tip: If you got married or divorced last year, make sure you’ve filed any name and/or address changes with the Social Security Administration and IRS.
Also, let your employer know so they can properly report your income and taxes withheld.
Tip: Seek out possible deductions and credits you may qualify for based on your stage of life.
• Recent college graduates: You may qualify for a deduction if you’re paying off student loans or a credit if you’re pursuing higher education.
• Newlyweds: Filing jointly may result in more benefits than filing singly.
• Parents: Take advantage of the Child Tax Credit, and don’t forget to see if you qualify for the Child and Dependent Care Credit if you pay for childcare.
• Seniors: You may qualify for the Credit for the Elderly or Disabled. And look for free tax services, such as the Volunteer Income Tax Assistance Program or the Tax Counseling for the Elderly Program.
Tip: Don’t procrastinate!
When you follow the tips above this year, you’ll find that the usual pit in your stomach will be much smaller next year when it comes to tax time! Resolve that this will be the year you’ll get super organized, especially with the help of Master Lock and SentrySafe products.
Disclaimer: As a blogger in Master Lock’s Live Secure Safety Squad, I receive compensation and product samples to facilitate my reviews and posts. However, all opinions are 100% my own.