Will tax time be a pain or a breeze this year? If you take a few easy steps ahead of time, filing your income taxes can be a lot easier and quicker. Find out what our personal loan specialists recommend to do now.
It might feel a little early to be thinking about income taxes, but if you put in some time to gather all the paperwork you’ll need now, you’ll feel less stressed when you work on your tax return or need to give your documents to a tax preparer. Getting started early also gives you the time to get copies of any documents you may be missing.
Basically, the tax documents you need will fall into five categories:
Some of these tax documents will start arriving in the mail in January and February, so our loan experts recommend gathering gather them in a single file as they arrive. If you prefer to keep your information on your computer, scan the paper documents and store them in a file on your desktop. It’s still a good idea to keep the paper originals in case something happens to your scanned copies.
This checklist can help you make sure you have all the paperwork you need.
These expenses can lower your total taxable income, so you pay less in taxes. You’ll need receipts or other documents showing what you paid for:
When you have all the right forms, receipts, and information together for when you start your tax return, you’ll be able to make sure the information you file is correct, and you’ll be able to get the biggest refund you’re entitled to.
Learn more about our application process to prequalify for a personal or tax loan online to pay for unexpected tax debts.
You can prequalify for your personal loan online in just minutes by clicking prequalify now. Or, if you prefer, call or stop by your local branch to get the process started. Our loan specialists can answer any questions you may have such as what a personal loan is, understanding personal loan interest rates, and how to qualify for a personal loan. We’ll help you fill out an application for the type of loan that fits your needs.