Preparing for Tax Filing 2024: Key Steps to Take Now

Tax season is just around the corner, and now is the perfect time to get ahead. Start by organizing key documents like W-2s, 1099s, and receipts for deductions—having everything in one place makes filing much smoother. Take a moment to review your filing status and consider whether itemizing deductions could benefit you this year. Don’t forget about contributions to retirement accounts—there’s still time to lower your taxable income before the April 15 deadline. Finally, if you’re unsure about navigating the process, consult with a trusted tax professional to avoid costly mistakes and maximize your refund.

Key Steps to Prepare:

• Review your filing status to understand your deductions and eligibility.
• Gather your key documents: W-2s, 1099s, and more.
• Max out contributions to IRAs and 401(k)s to lower taxable income.
• Adjust your withholding now to avoid underpayment.

How are you preparing for tax season this year? Share your thoughts or tips below!