As a New Year begins, the entire nation starts to dread the April tax return deadline. Although a majority of people believe filing their tax returns are a dreaded chore and postpone them for as long as possible, there are several reasons why you may want to consider filing your La Jolla tax return early this year.
The biggest reason to file your taxes early is if you expect a return. The IRS tends to be less busy in January and February compared to March and April, meaning your taxes will most likely get processed faster. Early filing means you won’t have to wait for the IRS to handle all of the other last-minute filings and you can enjoy your return before everyone else.
Second, if you need professional assistance from certified professional accountants in La Jolla, scheduling an appointment during the final weeks of tax season will most likely be difficult. The sooner you organize your documents and are ready for assistance, the better chance you will be able to schedule an appointment and receive quality assistance.
Another great reason to file your taxes early is to simply avoid being late. Waiting to file your taxes until the last minute is not only stressful, but if something comes up or collecting your records takes longer than expected, you may end up owing more money for missing the April deadline. It is important to leave yourself enough time to prepare your taxes so you don’t miss any opportunities to save.
Generally speaking, filing early is most beneficial for individuals who have simple tax returns or are expecting a refund. For more advanced taxpayers, factors such as significant stock transactions, owning multiple La Jolla real estate properties or running a small business may make filing early more detrimental than beneficial.
If you are unsure of the best practices to employ when preparing your taxes, local La Jolla tax preparation specialists can help you with a full range of tax preparation services to ensure your tax return is accurate and filed correctly.