1. Know early on whether you can do your tax on your own or you would need professional assistance. You have to make this urgent decision at the onset of your tax preparations. If you have a quite complicated tax, you better hire professional help.
2. Collect all pertinent financial documents. You may need to look into the previous year’s files for guidance. Going through your last year’s tax may tell you what has changed so far. Gather those documents that pertain to the changes.
3. Sort your documents. You may need to categorize these documents such as revenues, expenses, deductibles, tax credits, and others. Sorting is your best tool to avoid missing something in your tax.
4. Do not procrastinate. Allow yourself some luxurious time to prepare your tax. Who knows, something unexpected might take you longer than you thought. Do not wait for April 15. Do your taxes now.