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Ready, aim, file! 6 steps to prepare for tax season

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in Small Business Tax

Believe it or not, tax return filing season starts up in a matter of weeks (if not sooner).

Strategy: Get organized. Whether you intend to file on your own or use a tax pro early preparation can make the process go faster and smoother. Best of all, it could also save you some tax dollars.

Here are six steps for getting ready to file your 2015 return.

1.  Look backward first. Make sure you have 1040s for the past few years, especially the one for 2014, at your disposal. This could include some vital personal information (e.g. Social Security numbers) and carryover capital losses. Usually, if you used the same software program to e-file last year, the personal data will automatically be available. Nevertheless, take a few minutes to verify the information and note any changes.

2.  Gather documents. Organize the documents received from various entities in a logical fashion. Most information returns must be sent to you by no lat...(register to read more)

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