Tax Tips & New Laws
Tax Preparation Tips from the Pros
- Don’t delay, prepare today. At the beginning of every year, create a folder to collect the critical documentation and information you’ll need for tax season and add to it as necessary. If you do this, your W-2 or 1099s will be the final document to add and you’ll avoid pulling your hair out come April.
- Have the correct forms. Even if Schell & Hogan, LLP is filing for you, it is important to know what documentation is required. You can view tax forms and instructions year-round on IRS.gov to ensure you are prepared to file once the tax year ends.
- Use our Tax Organizer. Schell & Hogan, LLP’s Personal Tax Organizer is the best way to get your information and documentation aligned prior to submitting your documentation to us.
- Slow and steady wins the race. This adage is true when it comes to taxes — being deliberate is critical. One small mistake could cost you, so take your time when completing paperwork.
- Check and check again. Double-checking your calculations and personal information will help catch errors, save you time in re-doing paperwork, and avoid getting a call from the IRS.
- File electronically, if possible. If you’ve completed the steps above, electronic filing — or e-filing — will get your return processed faster than filing your paper returns via mail. Refunds are processed faster and go directly to your bank account, saving you time and postage.
As the priorities of Federal and State Governments shift, so do tax laws. While it’s the job of the professionals at Schell & Hogan, LLP to stay up to date on new tax laws, it doesn't hurt to be in the know yourself. By understanding what laws will apply to a given tax year, you may be able to save yourself money by adjusting your withholding or qualifying for special tax credits, for example. Click the link below to review the Federal tax law and Georgia tax law changes that may apply to you.