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Ep. 65 | Tax Prep Readiness
Manage episode 394375110 series 3461862
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In this episode of the Teaching Tax Flow podcast, hosts Chris Picciurro and John Tripolsky discuss tax prep readiness. They emphasize the importance of tax planning throughout the year, rather than just during tax season. They also highlight the need for organization and proper documentation to ensure the best possible outcome on your tax return. Chris and John provide practical tips for collecting and organizing tax documents, as well as choosing the right tax professional.
They stress the importance of giving all income items to your tax professional and not being afraid to file a tax extension if needed.
Key Takeaways:
- Tax planning should be a year-round process, not just during tax season.
- Organize your tax documents in a separate folder in your email and a physical folder.
- Have a copy of your prior-year tax return handy for reference.
- Give all income items, even if they don't seem important, to your tax professional.
- Don't be afraid to file a tax extension if you need more time to gather information.
Quotes:
- "Your tax return is a verb, not a noun." - Chris Picciurro
- "The best result possible comes from being organized and giving all income items to your tax professional." - Chris Picciurro
Resources:
Episode Sponsor:
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