✅ Organize your documents in advance: Gather your W-2s, 1099s, receipts, and all other financial records before tax season begins. Keeping everything in order will help you file on time and avoid last-minute stress.
✅ File your tax return on time: Submitting your tax return by the deadline prevents penalties and interest charges. Filing early also reduces the risk of identity theft related to tax fraud.
✅ Consider making estimated tax payments: If you’re self-employed or receive income not subject to withholding, making quarterly estimated tax payments will help you avoid surprises in April and prevent penalties from the IRS.
✅ Keep track of deductible expenses: If you’re eligible for deductions (such as business expenses, medical costs, or education-related expenses), maintain detailed records to maximize your tax benefits and reduce your tax liability.
✅ Ensure accurate tax withholding: If you’re a salaried employee, review your W-4 form annually to ensure your withholding matches your actual tax liability. This prevents owing unexpected taxes at the end of the year.
✅ Seek professional advice: Tax laws change frequently, and mistakes can be costly. At CORTACC, we help you stay compliant with tax regulations, minimize your tax burden, and avoid unnecessary risks with the IRS.
