Broker Check

Are you prepared for tax season?

February 28, 2022

Now is the time to get your finances in order for tax season.

Here are four tips to consider for a solid tax strategy.

  1. Do you know where your essential documents are? If you are looking to make taxes a breeze, it pays to prepare now. Having a central location both for online documents and those that come in the mail will keep you organized. AdviceWorks is an easy-to-use platform that allows you to securely save and share your important documents. Email us today if you haven't already set up your login.

  2. Are you thinking about donating to charity? Consider making two years of donations within the same tax year, also know as "bunching" to potentially maximize your deductions this tax season.

  3. Are you investing in the financial markets? Before tax season arrives, remember that you may claim deductions if you experience losses. A solid investment and financial plan will include a tax strategy that incorporates tax-deductible, tax-deferred and tax-favored investing.

  4. Are you tax documents safe from a computer catastrophe? Backing up your completed tax forms now can help avoid deadline headaches in the next few weeks. Using a secure site like AdviceWorks will protect your documents, keep them safe and secure and easily accessible. In addition, it is wise to use a backup method of saving your files on an external hard drive or a USB flash drive.

*This post is for informational purposes only and is not a replacement for real-life advice. Consult your tax professionals before modifying any part of your tax strategy.