Now that your taxes for 2016 are over and done with, thinking about next year’s is probably the last thing on your mind. But you should know that there are things you can do now that will help make next year’s filing a stress-free experience. Here are five steps from Blackwell’s Tax Service to aid with your future tax preparation in Rock Hill, SC:

  1. Balancing refunds – Getting a large refund check is a satisfying feeling, but this could be a sign that you’re letting the government withhold too much from your salary. For those on the other end of the spectrum who’ve had to pay the IRS–well, that’s no fun either! For both of these situations, a tax preparation professional can help you find a balance in your refund for next year.
  2. Be bold – Taking a look at your individual tax returns is a excellent motivator for change. Don’t just brainstorm about finding new opportunities–take action! If you’re seeking a promotion or raise, ask for one or look for a higher paying job at another company.
  3. Take care of your retirement fund, student debt, and health savings account – Knock out that student loan first, and do it quickly. Once that’s taken care of, start putting money into your retirement fund and a health savings account. Need help in deciding which one to focus on first? We can offer expert advice for your situation.
  4. Giving back is good – Giving to charities is rewarding in numerous ways. One of the biggest is that if you make a donation to a qualified nonprofit, the government will give you a tax break in return. But before you claim these deductions, make sure that any organizations you donate to meet the IRS qualifications.
  5. Save money, don’t owe – Avoid borrowing from your emergency savings and/or your retirement account unless you have no other alternatives. Try to find other avenues to save money. We’ll help you find new ways to build savings and wealth while maintaining a stable financial future.

Planning ahead for your future tax returns can require a lot of thought – but don’t be afraid! We want to help you make planning for your taxes stress-free. Give Blackwell’s Tax service a call today! Our tax preparation professionals specialize in putting our Rock Hill and Fort Mill, SC clients at ease.