moneytalk
Tax Season - Don't Panic!
By Cindy Nichols, CPA
While the deadline to file returns is still a couple of months
away, if you haven’t already, now is the chance to organize your tax
documents so you avoid the last minute panic in April. Follow these
simple steps to get ready:
Find last year's return. You will need information
from last year's return in order to file this year, so find
last year's return and print it out if you plan to hire a
professional to work on your return.
Gather dependents' information. While you
might know your own Social Security number
by heart, if you have dependents, you're going
to need their information as well. New parents
or adults who started serving as their elderly
parents' primary caretakers over the last year
will need their kids' and their folks' social security
numbers. If you do not have these numbers upon
filing, your return will likely be delayed and you
might even be denied potentially substantial tax credits.
Gather your year-end financial statements. If you spent
the last year investing, then you will have to pay taxes on any
interest earned. Interest earned on the majority of savings accounts is
also taxable, so gather all of your year-end financial statements from
your assorted accounts in one place. Doing so will make filing your
return, whether you do it yourself or work with a professional, go more
quickly.
Speak with your mortgage lender. Homeowners should receive
forms documenting their mortgage interest payments for the
last year, as the money paid in interest on your home
or homes is tax deductible. If these forms are not
received in a timely manner, speak with your
lender. You might even be able to download
them from your lender's secure website.
Make a list of your charitable contributions.
Charitable contributions, no matter how
small, are tax deductible. While it's easiest
to maintain a list of all charitable
donations you make as the year goes
on, if you have not done that, then you
can make one now. Look for receipts of all
contributions, contacting any charities you
donated to if you misplaced any receipts.
Book an appointment with your tax preparation
specialist now. As April 15 draws closer, tax
preparers' schedules get busier and busier. The earlier you
book your appointment, the more likely you are to get a favorable time
for that meeting.
WE HAVE MOVED
& MERGED!
Nichols, Dymes & Associates
IS NOW
Brownsberger, Messineo, Nichols LLC
38349 COUNTY RD 54
Zephyrhills, FL 33542
813-782-8680
Across from WAWA - next to the
old State Farm Fire Engine
Visit
our
store
Classes | Notions | Designs | Sewing & Embroidery machines
and much more...
Join one of our brand new
Embroidery and Serger Club!!
Acquire substantial skill, knowledge,
and experience, participating in our Club,
plus enjoy the camaraderie of learning with peers.
We will be having a lot of fun.
Check out our calendar or give us
a call for more information!
c
At Sewing Center of Wesley
Chapel we also have:
All the Quilt Select products
for your convenience.
Matts
Rulers
Rotary Cutters
Quilting Stabilizers
Batting and much more....
2653 Bruce B. Downs Blvd. Suite 119. Wesley Chapel, FL
Phone 813.591.1838 & 813.792.1855
www.sewingcentertb.com
l,40 • JANUARY 2020 813.682.9364 FLORIDA WOMEN MAGAZINE
/www.sewingcentertb.com