Tax resolutions for the new year

[The Patriot]

Tax resolutions for the new year

01-06-2012 08:27 AM

Published:
Fri, 2012-01-06 16:23


Tax resolutions for the new year


Heather Joy


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Photo courtesy of ARAcontent






It might be coincidental that the new year and the beginning of tax season arrive so close together. Many people resolve to be wiser with their money in the new year, and it just so happens that being smart about your taxes is a good way to get started.
Use these tips to help build a successful approach to your tax resolution.
* Get started now. If you know that you struggle with preparing your return, make the call to a professional who can help you. But don't wait - tax preparers' appointment books fill up fast.
* Set up a filing system - and stick to it. Create files for receipts and other documents and be sure to keep them updated.
* Take advantage of tax-saving benefits offered by your employer. If they're available to you, consider how much smarter it is to use pre-tax dollars for things like medical expenses and child care.
* Do yourself a favor by checking on your tax liability a couple of times through the year. If you need to make adjustments to your withholding, do so as quickly as you can.
For more ideas about a financially sound new year, visit blog.equifax.com.
RAF Lakenheath's tax center will open on January 30 and the RAF Mildenhall center will open on February 1.
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