Wednesday, December 29, 2010

Tax Tips From Fox Business





Tax Tips: The 7 Things to Do Before January 1

By Kate Rogers
Published December 29, 2010
| FOXBusiness


Although springtime and warm weather may seem distant, tax season will be here before you know it. With 2010 on its way out, here are the seven things you can do now to get your taxes in order before January 1 -- to make life easier when it’s time to file your return, and maybe even to save some cash.
1. Get organized. By January 31, taxpayers should have all of their W-2 paperwork in hand, and according to Mark Steber, chief tax officer at Jackson Hewitt, there is no reason to wait to file your return in 2011. “Make a plan to get your returns started early,” Steber said. “Gather your documents and file by a certain date.” Last year’s refunds averaged around $3,000, according to the Internal Revenue Service.

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