Tax Returns: What to Do Now to Avoid a Last Minute Rush in April

Tax day is creeping ever closer. We're now just over three months away. So if you want to steer clear of that last minute deadline scramble it's time to start doing some groundwork. Save yourself the headache and tick a few things off your checklist. Start a folder or box for all documents, including paper work for any deductions. The most tax-induced anxiety comes from lack of organization. So start printing and gathering everything as soon as possible. Keep an eye out for documents sent via post and electronically. Check your spam folder. Find last year's tax Return. It's good to reference. Especially if you have more than one job or multiple investments. Start working on taxes yourself, even if you're using an accountant. If you're using your credit card statements, now's the time to start circling relevant charges like business expenses and charitable donations. Your accountant or software program can't categorize your charges for you. Start thinking about next year. Even if it's the last thing you want to do right now, make tax season a year-round planning event. Financial management software is a great investment to help you get a head start. When you wait until the last minute to do everything, crucial parts fall through the cracks. So don't leave it too late and miss out on some great deductions.