“WHAT are you waiting for?”….says my wallet!
I used to go through the same drama every single year once December closed out and the beginning of the new tax season started.
I mean, I was the “Queen of April 15 Tax Filing” (AKA the last day to file individual income taxes without penalty for those of you who have always been on point).
I learned my lessons on that one a million times over.
Can I get a witness?
It’s just not a great idea…especially if you think you might owe any money (don’t panic; more on that later).
And now that I’m reformed and have my “stuff” together, I have a great win plan to share with you that will quickly and painlessly help get you through tax season!
It’s sort of like a “queenly order”…
Before I get to the nitty-gritty of your 2019 tax season overachievement plan, I need to address the elephant in the room…you know…the IRS…and the government shutdown.
Here’s the deal. Despite the shutdown…
The IRS announced that they will begin processing tax returns on Monday, January 28, 2019, and provide tax refunds as scheduled.
My suggestion: get in line…NOW…from home!
Yes…you can officially get the ball rolling and start filing your taxes electronically with TurboTax Live! Right NOW, TurboTax is accepting tax returns and will securely hold them for transmission to the IRS and States once they begin accepting e-file.
I’m a fan of filing taxes electronically … The IRS processes e-file returns faster and with fewer errors, which means quicker refunds.
But before you get started…you need your no-stress plan.
- Gather ALL your docs
First things first, do you have all your tax documents together for 2018?
I mean, all of your tax documents.
Your W-2(s) from your 9-5 employer? Your mortgage interest deduction information (if you’re a homeowner)? Or, how about the 1099-MISC form you received from your booming side hustle?
We need all of it!
And if you’re unsure of what you really “need” or “don’t need”, don’t panic…I’ll lend a helping hand suggestion in a few.
In the meantime, I have a quick pro tip to share.
It’s about how you receive your tax documents from year to year…
Instead of waiting for your W-2s and other important tax documents to arrive by snail mail, many employers and banking institutions will allow you to opt-in to receiving your tax documents electronically.
Next year, check the box to agree to receive your tax documents by electronic transmission.
If you’re already doing this, high five!
It will make life so much easier at tax time.
BONUS TIP! TurboTax can easily import your financial data, including W-2s from over 1 Million companies, and save you time by automatically putting your information in all the right forms for you. Who doesn’t love a good short cut?? I’m here for it.
- File your taxes pronto
Next up, it’s time to file.
Here’s why I suggest filing now vs. waiting…and that’s whether you’re getting a refund or owe Uncle Sam some coins.
Expecting a refund?
Ok, this one’s a no-brainer.
“Show me the money”, right?
I know I don’t have to twist your arm to get you excited about the money you worked hard for…and have coming back your way.
Instead, I’d rather tell you how you can use the money you get back at the beginning of the year to help fuel your money goals for all of 2019.
Check it out…
Planning to keep your refund check in savings for an emergency cushion or big purchase later?
Get your cash into the highest interest-earning savings account or Certificate of Deposit (CD) you can find! The sooner you park the funds in there…the more interest your money will have the chance to earn over the course of the year.
Determined to pay off a loan or credit card with your refund?
Another great idea. Just a friendly reminder that there are interest rules that apply here as well. The sooner you can get your debt paid down or off, the less you will have to pay in interest fees…so don’t wait!
But what if you owe?
If you owe money to the IRS now…guess what?
You’re still going to owe money to the IRS if you wait until 11:59pm on April 15 to hit “submit” on your taxes.
Get on it now!
File by the deadline to avoid penalties and interest charges.
And don’t worry, the IRS has several ways for you get full or partial payments to them that include: electronic funds withdrawal, IRS Direct Pay, online pay and phone pay. Take your pick!
Now about that “helping hand” suggestion…
- Bet on YOU… But Don’t Be Afraid to Ask for Help!
I know, I know.
You should always bet on yourself…but when it comes to all these new tax laws…you may not want to bet on “just” yourself for getting them right.
Luckily, I know someone who can lend an expert hand!
My friends over at TurboTax have cooked up something cool to get you through any tax questions you may have as you file.
TurboTax Live is a new product that lets you talk to real CPAs on demand.
You can click to connect directly with a LIVE CPA or Enrolled Agent through one-way video… on demand… for unlimited help and advice as you do your taxes. They’re even available nights and weekends for next-level convenience.
You can literally get your taxes done right from home…in your jammies! *giggle*
And here’s what’s most important: All advice or reviews from TurboTax Live CPAs and EAs are guaranteed for 100% accuracy. They also guarantee that they will find every tax deduction and credit you qualify for to get you the biggest possible refund (FYI: they search over 350 tax deductions).
At the end of the day, you don’t want to miss out on any money coming your way.
Throw on your jammies…grab your hot cocoa (WITH whipped cream), and kick your feet up…while your computer (and TurboTax) carries you to your maximum refund.
Now, this is what being a “queen” should feel like!
[bctt tweet=”Thanks to @TurboTax , I’m ready for tax return season! Learn how YOU can get prepared too…” username=”thebudgetnista”]
This is a sponsored post.