Can you believe that we're already heading into December? For some, this year went by extremely fast and for others, this year didn't go by fast enough!
With one month left in 2021, tax season is just around the corner. Everyone here at R&I Tax & Bookkeeping want to make filing taxes as easy a process for you as possible.
The biggest key to making tax season a not-so-stressful time for you is to gather up all of your tax records early so that by the time you need to file your taxes, everything is all there. One way you can organize all your papers is to put them in a document organizer, which you find on Amazon or even you local store!
The IRS website has great information on how to prepare for the 2022 tax season and even lists out the most important forms you will need. Here is what they say:
"Remember, most income is taxable. Recordkeeping for individuals includes:
Forms W-2 from employer(s)
Forms 1099 from banks, issuing agencies and other payers including unemployment compensation, dividends, distributions from a pension, annuity or retirement plan
Form 1099-K, 1099-MISC, W-2 or other income statement for workers in the gig economy
Form 1099-INT for interest received
Other income documents and records of virtual currency transactions."
Keep your end of year documents as well! This includes your Form 1095-A, Letter 6419, and Letter 6475. You can find more of what the IRS suggests and much more about the upcoming tax season by clicking on the link below:
If you want your refund to come sooner rather than later, direct deposit is the way to go! This form of payment usually arrives faster than a paper check in the mail, so adding your bank information when you are filing your taxes will make a difference.
Preparing yourself for your taxes will payoff big time. If you want to minimize the hassle and stress of tax filing, whether your an individual or a business, now is the time to get all of your papers in order! That is where we come in!
What questions do you have about tax season? We are here to provide help with tax preparation, accounting, payroll management, and business formation! R&I Tax and Bookkeeping is here to help!
You may contact us via our 'Contact' page at https://www.ritbsinc.com/contact. We can also be reached via phone at 253-777-1106.