Tax Planning Guide: Start Off On The Right Foot

A tax planning guide will help you get your taxes in order before you have to rush to do it. Planning for taxes is a lot easier when you have the information on hand that you need. Here are some tips to get started off on the right foot planning your taxes for the year.

1. Keep All Receipts

Keep all your receipts in a designated area so you can have instant access to them. Try to put them away as you receive receipts to minimize any getting lost.

2. Make Income Movements at Start of Year

A great way to maximize your return is to defer your income to next year's taxes, or move more money into a 401K. Try to do this at the beginning of the year. This will give you more in the 401K or more that can be attached to next year's return.

3. Make Gifts towards End of Year

Make your gift, or charitable contributions, at the end of the tax year so you can remember making them, and so you can make the maximum allowed contribution.

4. Choose Accountant before Tax Time

Shop around for a good CPA before you have to file your taxes. They will help you prepare for the upcoming taxes and prepare for next year also.