1. Notify Your Preparer – Most tax return preparers request confirmation they will be preparing your return. The sooner you notify them you would like them to prepare the return, the sooner they can begin work.
2. Organize Your Tax Documents – Find a system that works for you, whether that be organizing documents by type in hard copy or organizing electronically for delivery to your preparer.
3. Discuss Changes – Preparers typically provide a Tax Organizer with questions to get an idea of your year. Did you get married? Have a kid? Open a new business? Take time to review the organizer and answer the questions. Ask your preparer if the change you made will have any effect on your tax liability for the year.
4. Open Communication with Preparer –Be ready for back and forth communication as your preparer works on the return. Requests for more information may seem like a chore, but they are worthwhile if they uncover an additional deduction.
5. Review Return – This might seem simple but look through the return and ask questions. Once the return is signed the next step is to file and it is a lot easier to correct before filing than to amend the return.
If you have any questions about your tax preparation or tax liability for the 2020 tax year, please email us at email@example.com or call (405) 232-7777 to speak with an attorney or accountant.
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