Have you ever sat down after submitting your income tax return and found that there were moves that you could have made in the previous year that would have saved you money on taxes? If your answer is yes, you are not alone. There are resources that you can use today that will help you to get better tax results in the future. Three tools are laid out for you inside this article.
1. Automated Tax Reminders. With all the important tasks that you need to keep up with, adding income tax reporting and filing requirements is an important reason to have a good scheduling system in place. One action that you can take is to sign up for free emails alerts that will remind you of upcoming tax filing and reporting dates. Do this soon so to stay in compliance with tax reporting requirements.
2. Income Tax Organizer. If you are like many others looking to reduce the amount of taxes you pay each year then a good resource for you is a tax organizer. This tool will help you maximize the allowable deductions and credits that you can take but the key to its success is the commitment that you are willing to make in using it. Although most people reserve the use of the tool for tax filing it is also a handy aid in tax planning. Take it along with you to quarterly tax reviews so that you can discuss any questions you have with your accountant. Then make sure to take it with you when its time to prepare your return.
3. Tax Refund Tracker. Have you ever filed your income tax return and expected to receive a refund on a certain date but it never arrived? If you follow-up to check the status by phone then you may experience long hold times when call volumes are high. One solution to this is to track your refund online. You will need a copy of your income tax return handy and internet access. The process is very simple and it will save you lots of time. You can check the status of your federal refund and most states offer the feature, as well.