The July 15 federal and state tax filing deadline may seem like light years away, but there’s some important reasons why you should keep on track with your taxes and finances while everyone is at home.
Pretty soon the stay-at-home orders will be lifted and summer will arrive; the last thing you’re going to want to worry about is your TAXES.
Here’s our top 10 reasons to send us your tax documents now and not wait until July.
1. Refunds, refunds, refunds! According to the IRS, the average tax refund this year has been $3,064 as of Feb. 28. Get the money that’s owed to you sooner rather than later.
2. In July, it will be summer, and you will never be home.
3. Filing your taxes now provides faster turnaround and processing time if you get your documents in early.
4. In July, you will go out to eat every night.
5. Procrastination is stressful. No one particularly enjoys tax time, but it’s vital to your wellbeing. Stay financially healthy and file your taxes to relieve stress.
6. In July, you will be on a vacation somewhere. Anywhere.
7. Filing your taxes now may open the doors to planning strategies that will reduce your taxes next year.
8. In July, you will not want to focus on anything serious. It will be all fun and games.
9. Eligibility for the stimulus payment is based off of your 2018 or 2019 tax return. If for some reason you didn’t yet file 2018 taxes or perhaps your dependents are filing for the first time this year, you will need to file 2019 taxes to receive the stimulus rebate check.
10. In July, you will be gathering with people every day; whether you like them or not.
Get those tax returns filed and off of your to-do list, so you can enjoy the good times to come! You can drop off your tax documents in our mail slot or upload your documents to the client portal.
We’re working hard to meet compliance deadlines and to help clients reach their goals in times like these. Please reach out if you have any questions, need resources, or would like to discuss strategies to keep on track financially.
You can call our office at (781) 247-5569, text the office line at (781) 790-4504, or email me at stu@erocktax.com.
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About Stu: With more than 30 years of experience as a tax professional, Stu Steinberg brings a broad depth of knowledge to his work with his clients. Stu founded Erock Tax to help provide tax and financial planning strategies to individuals, families and small businesses and is passionate about empowering his clients through education about their money health. Stu is highly energetic and brings a sense of optimism, creative problem-solving and a deep level of commitment to every Erock client.