“The path to success is to take massive, determined action.”
Tax season is right around the corner and now is the perfect time to begin taking massive action. Even though the next filing date is April 15th 2020, preparing documents and gathering information as soon as possible is always highly recommended by financial experts. However, to best prepare, it is important to set up meetings with an accountant or a financial planner way before then.
The process of preparing for tax season is known to be a daunting task for many, that is why having a financial advisor can be of great support. Although, even if someone helps you to prepare your taxes, you’ll need to gather some important details ahead of time. That is why the earlier you begin, the better off you’ll be! Knowing what you need to do to better prepare for tax season will save time and money and provide you with peace of mind too.
ERPS Group provides personal accounting and financial planning services for individuals and businesses. Their team recommends you become aware of the following steps to achieve financial freedom and have a successful 2020 tax season:
- Gather last year’s tax return details and all paperwork for this year’s taxes. Keep in mind, this will include any receipts, bank statements, any proof of expenses and income, paperwork for any dependents you have and any other financial documents you want to discuss.
- Make a note of any deductions you may have. This might include but is not limited to the following: retirement contributions, job-related expenses, childcare expenses, student loan interest, insurance payments, medical expenses, charitable donations, real estate, credit card statements and receipts.
- Make an appointment with an accountant or a financial planner, like those at ERPS Group to review your documents and help set you up for success. They will help you to become aware of any changes in tax laws and ensure you are filling all documentation out correctly and in your benefit.
Want to learn more about how you can save money annually this tax season? ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.
Interested in learning more? Contact us today at (347) 462-2778.