Start Early in Preparing for Tax Day

taxesIt is early January, but not too early to think about getting ready for your 2017 tax preparation. Tax Day (the deadline for filing 2017 tax returns) comes on April 17, 2018. The usual date is April 15, but this year the 15th comes on a Sunday and a local holiday will be celebrated in Washington DC on the 16th, so taxpayers will get an extra 2 days.
Don’t wait until Tax Day is just around the corner. Start now to collect the information that you or your tax professional will need and be on the lookout for tax-related forms in your mail. They should start to come in mid to late January. You may need to have some common forms, including these-

  • W-2 forms for you and your spouse (if you were employed during 2017)
  • Interest and dividend income reported on forms 1099-INT for interest and 1099-DIV for dividends.)
  • Social Security benefits forms SSA-1099
  • IRA/pension distributions—forms 1099-R, 8606

Be sure you get all the deductions and credits you deserve.

  • Home mortgage interest and points you paid, IRS Form 1098
  • Charitable donations (by cash, check or credit card), the value of donated property and out-of-pocket expenses.
  • Medical and dental expense records
  • State and local income taxes paid
  • Real estate taxes paid
  • Records of estimated tax payments you made during the year or any prior year refund applied to current year.
  • Direct deposit information for your bank. If you are due a refund, the IRS needs this bank routing and account number.

This is a good time to make a check list of all this information for use in the future. It is also a good time to think about contacting a tax professional. The website can help you find qualified and knowledgeable tax and accounting help.  Check these links-

Tax, accounting and financial advice from vetted professionals are some of the many services offered at the website. strives to be a complete seniors directory offering help in finding-

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You can contact an Advisor by phone at 866-333-2657 (Se Habla Español), or by using this contact link- Contact Us. Check out our website at and take an online look at our senior living magazine, Magazine by clicking its link.

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