Monthly Reads | It’s Tax Time! Are You Ready?

February 28, 2017

Monthly Reads | It’s Tax Time! Are You Ready?

“In this world nothing can be said to be certain, except death and taxes.” Benjamin Franklin

It’s tax time people! This year, because April 15th falls on a Saturday, and the next Monday is a holiday, Tax Day is Tuesday, April 18th. Yes, we get a few extra days to file this year.

Of course, those extra days won’t make a difference to you because you would have filed your taxes looooonnnng before then, right? Right.

Tax time can be stressful. Do you do your taxes on your own or should you hire a professional? Are you claiming the right deductions? Are you claiming too many? Are you missing out on a refund? Questions abound when it comes to filing taxes, especially if you had a significant life-change last year like moving, getting married, or starting a business.

By now you have received all your tax documents and can file. You may be delaying simply because you don’t want to file or are a little intimidated by the process. I’ve rounded up some posts to answer a few common questions related to filing taxes and to help take some of the confusion out of tax time.

Should I DIY My Taxes or Use A Professional?

Hiring An Accountant To Do Your Taxes Vs Using Turbo Tax Or Tax Cut — My Wife Quit Her Job
Using tax software is an excellent way to file your taxes. But does it provide the same results as hiring a professional? In this post, Steve shares his personal experience of using an accountant and compares it to his experience with using tax software.

12 Times When It Makes Sense to Hire a Tax Preparer — US News
There are many people who file their taxes using a professional when they would be better off doing their taxes themselves. On the other hand, there are many self-preparers whose circumstances warrant paying a professional. This article highlights the scenarios that justify the expense of a professional.

I Need to Hire a Tax Professional. What Do I Look For?

How to Hire a Tax Pro in the Know — The Motley Fool
Okay, so you’ve determined you do need to hire a professional. Do you go to your local H&R Block or hire a CPA? Maybe you need a tax attorney? This post spells out your options and shows you what to look for in hiring a professional.

I’m Filing for the First Time…Help!

6 Tips if You’re Filing Taxes for the Very First Time — Bankrate
If you (or your adult son or daughter) is filing for the first time, these tips will help make the first experience of filing taxes a smooth one.

Bonus Tips

Avoiding Tax Disaster – Beware Of These 4 Common Tax Scams — Forbes
Just as questions abound during tax season, so do scams and fraud. Con artists prey on our assumed fear of the IRS and use tax time to dupe us using various tactics. Be sure you’re aware of these common tax scams.

10 Ways To (Mostly) Avoid A Tax Audit — Forbes
If you file your taxes on the up and up, you don’t need to worry too much about being audited. Keep these tips in mind to keep your chances of being audited low, and to be prepared just in case you are audited.

Hopefully, these reads will help remove some of the anxiety that accompanies tax season. Keep the stress to a minimum of being organized and resisting the temptation to procrastinate!

Happy Tax Time!

This post is a part of the series, Monthly Reads. For the last post of every month, I round up a few articles to read, usually based on a particular topic or theme, to inspire you, encourage you, provide information, make you think, or maybe just make you laugh! To receive Monthly Reads and all other posts via email, sign up for the weekly Hope+Cents newsletter.


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