Local residents are being encouraged to prepare early for the upcoming tax season to avoid delays and mistakes when filing their returns.
Local Tax Expert Dakota White said the first step is making sure all required documents are collected before meeting with a tax preparer.
“Don’t jump the gun too soon,” White said. “Make sure you have all your tax forms from any employer, any bank, any sale of properties in order and ready to take to your tax preparer so that no amendments would have to take place.”
White said preparing ahead of time is important because tax preparers’ schedules can fill up quickly once filing season begins.
“The sooner you prepare, the better you can execute,” White said. “With taxes, we want to make sure everything is one hundred percent correct, so preparation is key.”
White said organization is especially important for small businesses, but it also benefits families and individual filers.
“Bookkeeping is the bloodline of a small business,” White said. “Having all your income itemized and your expenses itemized helps tax preparers prepare your taxes in the appropriate manner so you get every deduction possible.”
White said one of the most common mistakes people make is forgetting to report all sources of income, which can lead to corrections later.
“It is vital to ensure that you have all your tax documents,” White said. “If you forget income from a bank or a second job, that can lead to amendments or corrections to your return.”
White said staying organized and gathering documents early can help the filing process move more smoothly for both taxpayers and preparers. He encouraged residents to reach out to a tax professional with questions before filing to help avoid issues during tax season.