5 Last Minute Tax Tips
Did you know that 20-25% of American put off taxes until the last two weeks before the deadline? If you’re one of these folks, don’t fret: there are still options out there! Here’s a few tips to get you started:
Tip #1: Get organized. Having everything in one place and on hand before you get started is a total life-saver. TurboTax provides this fantastic FREE printable checklist that helps whip even the most disorganized person into decent shape before sitting down to tackle those taxes.
Tip #2: Let the credit union help you. Filing online can save you up to $15 on TurboTax Federal products. If your taxes are relatively straight-forward, TurboTax makes filing online much less stressful.
Tip #3: So you’ve decided to e-file your taxes. Great! One of the other perks about e-filing is that that if you have decided to prepare your own tax return, and your income is less than $62,000—you can do it for FREE HERE.
Tip #4: File for an extension. Does the thought of a box of messy receipts and a weekend spent pulling out your hair without any help make your stomach turn? You’re not alone! The good news: it’s not hopeless. You can e-file for an extension by filling out Form 4868 and sending via certified mail. IMPORTANT: if you expect to owe money, it must be estimated and paid for by April 18th.
Tip #5: When I get really stressed out about an approaching deadline, I often feel the most stressed when I have been working on the problem for hours without a break. If I’m on the brink of tears, rage or nervous breakdown, I give myself a breather. My brain always works better after a brisk walk in the park, phone call to my mom, or chat with my boyfriend.
Whatever approach you decide upon, take the first step by formulating a plan of attack. Simply getting started will help alleviate much of the pressure of procrastination, and before you know it, your 2015 taxes will be a thing of the past!