You may be thinking that you don’t have to worry about your taxes again until the new year rolls around, but that’s not necessarily the case. A smart taxpayer will know that staying on top of your taxes is a year-round job. That being said, if you want to avoid any surprises on your taxes next April, there are a few things that you should keep in mind.
One thing you can do to ensure that your taxes will be in order is to visit QualiTax! We offer Top Rated Local® tax services to residents in both Arnold and Annapolis. Whether you’re interested in personal tax preparation or small business accounting and tax services, we can help! At QualiTax we are large enough to give you peace of mind that the job will be completed correctly but small enough to know your name and give you the personalized service that you deserve. If you are interested in learning more about our personal and small business tax services, contact QualiTax to schedule a consultation today! In the meantime, continuing reading below where we provide you with a few tips that will help you stay on top of your taxes this summer.
Keep Track of Your Charitable Contributions
Donating to charity is not only a great way to give back to the community, but it is also a write-off on your taxes! Summer is a busy time to donate to charity, whether it be the time you spend packing food for people in other countries or the clothes you donate to the women’s shelter. If you want to receive the best deductible on your taxes, it’s important that you keep track of every item you donate to charity. In addition to logging what you donate, it’s also important to be specific and log every item that you donate. For example, if you donate a basket of toys to a shelter, you will want to log every item in that basket as opposed to writing “basket of toys.”
Report Any Name Changes
Summer is a popular time for weddings, and the last thing that couples want to worry about on their big day is taxes. However, if you’re planning on getting married this summer, there are a few things you can do to ensure that you will avoid any problems during tax season.
The first thing you need to do once you are married and the honeymoon is over is report any name changes to the Social Security Administration. Additionally, you will also need to contact the postal service, your employer, and the IRS of any address changes to ensure that you will receive any tax-related items in the mail.
If you want to stay on top of your taxes but you’re not sure where to start, contact QualiTax! Our tax advisors have years of experience and can provide you with expert advice and help you save the most money on your taxes. Whether you’re in need of personal tax services or small business accounting and tax services, you can rest assured that you are in good hands. Browse our website to learn more and be sure to contact QualiTax in Annapolis to schedule your consultation today!