The purpose of this video today is to give you tax tips that you can use between now and year end, or any time really to reduce your taxes. Many of us don’t pay attention to our tax bill until it’s time to actually file our tax return. Here are a few tips that you can use to pull together your numbers for taxes and help reduce your tax bill.

Tip number one: start going back through your income information right now. If you go back from January until the end of the year and spend an hour a day going through your income information, you won’t have any unreported income, unreported W2’s, interest income or stock sales. Go through your income now.

Tip number two is to go through your expenses and deductions now. Many times we’re rushing and we only pull together what we remember. If you take the time to go through your credit card statements, checkbooks, and online transaction and start gathering information now, you’ll see that you’ll be able to aggregate more expenses together than you were when you wait until right before you file your tax return.

Another tip would be to get out a copy of last year’s tax return and use it as a foundational tool to tell you where you should at least start in terms of getting information together for your taxes. At the very least, you want to pull together what you pulled together last year.

Tip number four; start drafting a list of questions that you want -to ask your tax person. If you’re the type of person that gives your tax consultant the same information that you gave them before, you shouldn’t really expect your tax return to be any different. If you really take the time and provide them with a list of questions, perhaps they can help you have a lower tax bill and a better tax return.

Again, I’d like to remind you to use these tax- tips from Cohesive to ensure a better return. If you’d like to get in touch with me, please email me at [email protected] or give my office a call.