Getting ready for tax time in January
KETK Tyler, Tx — Many may have missed out on some of the benefits of taking care of some of their tax prep before the end of 2012.
However there are still deductions to take advantage of, but mainly, you will gain some peace of mind, if you don't put it off till the last minute.
For many the new year means new resolutions, and among getting in shape, or or quitting smoking, many should probably mark down getting ready for tax season.
And it can start, by making sure your workplace has everything in line.
"Everybody really right now needs to revisit their w-4's, their place of employment to make sure that their employers are holding out the right amount of money" Maureen Parkhill from Liberty Tax Service in Tyler told KETK.
If you are waiting on your W2s, and have moved, to make sure your those forms aren't being sent to your old address.
"It's very important to start preparing right now for tax season, a lot of people will be filing at the end of the month once they get their W2's maybe some 1099's if someone is self-employed," said Parkhill.
And if you are self-employed, the amount you have to drive could lead to a deduction.
"If they didn't keep a mileage log for 2012 they need to start right now keeping a mileage log for 2013."
Overall, it's about keeping an eye out early in the year, while you still have time to adjust or take advantage of opportunities.
And if you start now, in 2013, you can condition yourself to no longer making this a resolution, but a yearly tradition.
"If you will go ahead and start getting your information together, if you've not done that over the year, it will help be in tune with doing that earlier in 2013," says Parkhill.
For more, click on the video above.