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Competitive Edge Blog

  • alison28006

Planning out your Taxes!

Noone plans to fail - they just fail to plan!

For those of you that don’t know e-filing opened up last Monday and we are excited to get your 2022 taxes filed. And for those of you that are a couple of years behind, I can help you too!

But planning is essential to ensure the best bottom line when it comes to taxes.

  • Reach out to your tax professional now and get the ball rolling! For those of you that don’t have a tax professional or are considering a change, start reaching out now to decide who will prepare & file your taxes this year! Don’t wait til April 29th!

  • Different life changes can have an impact on your tax return that you might be not even aware of.If you experienced a major life event in 2021 such as getting married or divorced, having a baby, going to school, buying or selling a house to name a few, you might want to consider using a tax professional to prepare your returns to ensure that everything is accounted for properly.

  • I often hear that the cost of a tax professional is a reason why people try to do it themselves. We have all been there where we have tried to fix a light or a tap only for it to take way longer than originally expected and oftentimes you end up calling a professional anyways. One of the ways to keep your fee as low as possible is to file as early as possible. Most tax professionals will charge more as the April 30 deadline approaches as their availability gets more and more restricted. Don’t wait til the calendar flips to April, start now.

  • Still thinking you can’t afford a tax professional, but not quite comfortable doing it on your own? Turbo tax has 2 cost efficient options and a special promo this year for those of you 25 & under. As long as you file before March 31, 2022, the cost of preparing your tax return will be free. The first one is an assist and review for under $110 you can have a tax professional review your return with you. They also have a live full service department where for less than $250, a tax professional like myself would prepare your tax returns from start to finish with the information you provide. Do some research to find out what works for you, and get started sooner rather than later.

Until next time...

Christine Walters

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