Use These Helpful Tips Now to Make Next Year’s Taxes Easier
Use These Helpful Tips Now to Make Next Year’s Taxes Easier
The 2018 Tax season has come and gone. By now you’ve probably already forgotten about them. However, if you want to get ahead on next year’s taxes, now is the perfect time to start. The more prepared you are, the easier tax filing will be.
It may seem a little early to start thinking about your 2018 taxes, but the sooner you get started the better. So what can you do right now? There are several ways to get ahead.
And by taking these simple steps you could relieve yourself of a lot of headaches come 2019.
Start by reviewing what happened this year. How did things go? Were there mistakes that could have been corrected? What would you have changed if you could go back and do your 2017 taxes again? Now apply all that to next year’s tax filing season. It’s not a bad idea to look at other previous returns as well.
Now is a good time to get organized. Create files and folders to gather, track, and store important documents and receipts. Having these ready now for next year will save you a lot of time and trouble.
Is now a good time to change your W-4 withholding status? If you had any changes in your family status then consider changing your withholding.
Now is a good time to make sure you understand the tax rules that apply to your situation. This is especially true if you’re self-employed.
Lastly, consider using a professional. If your taxes have become overly complicated and using a professional would make sense, then now might be a good time to start looking for a good accounting firm.
Taxes don’t have to be a nightmare. A little extra preparation now can go a long ways next year.
We hope you found this article about “Use These Helpful Tips Now to Make Next Year’s Taxes Easier” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
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Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
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The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
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Armin Tahmasbi | Encapsulate
I’m a young entrepreneur and a Ph.D. candidate in Biomedical Engineering program at the University of Connecticut, working on “Drug Delivery Systems, Self-Assembled Nanoparticles & Microfluidic Devices”, in Storrs, CT, US. I’m working in Self-Assembled Functional Nanomaterials Laboratory, under the supervision of Prof. Mu-Ping Nieh on “Drug Delivery Systems for cancer therapy”. We’re developing a universal platform for encapsulating and smart delivery of a wide range of drug molecules and
Spencer Jones | Lineus Medical
Spencer worked for 3 years in direct patient care as a Certified Nursing Assistant, Licensed Practical Nurse, and as a Registered Nurse. Frustrated with the inefficiencies plaguing the healthcare system, he was determined to play a role in improving the delivery of healthcare. In 2014, Spencer won the annual ARK Challenge, an Arkansas based business accelerator. The product he developed was a dual lumen peripheral IV called the BVAD, which focuses on painless and uncontaminated blood draws.
Adeel Malik | CEO of Clearstep
While studying finance and neurobiology in undergrad, Adeel spent his time doing neuro-immunology research at the Johns Hopkins Hospital, contributing to several academic publications. After undergrad, Adeel was a strategy & analytics consultant with Accenture for several years where he worked with some of the largest institutions in healthcare across pharma, health tech, health systems, and retail clinics. Adeel’s skills in healthcare analytics, operations, sales, and his breadth of experience
Yael Katz | How BrainCheck is Democratizing Cognitive Health
Dr. Yael Katz is the co founder and CEO of Braincheck, a healthcare technology company focused on making cognitive health assessments more accessible. Prior to co founding Braincheck, Yael was VP of ecommerce at JW Player and a post doctoral research fellows at Princeton University. She received a Ph.D in in Biological Sciences focusing on Computational and Experimental Neuroscience from Northwestern University.Alan What brought you to co founding Braincheck? Yael If a person has a concern that