It's Time to Get a Start on Tax Season! | Cleveland Bradley County Teachers Federal Credit Union

If you haven’t received your W-2 already, you will be soon—W-2s are due from your employer by the end of January. Therefore, our team at Cleveland Bradley County Teachers Federal Credit Union wants to help you get a jumpstart on tax season this year.

Preparation Is Key for an Easy Tax Season

Instead of stressing about filing your taxes like you have every other year, make 2018 different by getting started on your taxes now. Let’s take a look at a few ways to tackle tax season this year.

First, if you are planning to itemize deductions this year, then you want to go ahead and gather up all your receipts. If you have them scattered all over the place, make it a point to put them in one centralized location this week so that they are ready to go when it’s time to do your taxes.

Second, find last year’s tax return. Many times when working on the current year’s taxes, you are asked questions regarding the previous year’s tax bill. Therefore, it’s best to have them accessible and ready to reference in case any questions are asked.

Finally, make sure you are deducting everything you can when filing your taxes. Sometimes people are unaware of tax deductions they could be eligible for. Therefore, many Americans are missing out on benefits they would have received had they done their research on what can be deducted during tax season.

Remember, you are able to file an extension on your taxes should you need more time to file them. But if you do so, you’ll still need to pay any taxes due on time—the extension is only for actually filing your tax return.

Do you owe on your taxes more often than not? Visit Cleveland Bradley County Teachers Federal Credit Union today to learn about our Share Account that can help you keep your money in a safe space until time to pay your taxes.