By Kortney Christensen, CFP®, Executive Vice President, Director of Sales and Marketing

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With the passage of the 2018 Tax Act, you may already have had your fill of tax-related news.  While many of us are still trying to understand what impacts the new tax changes have in 2018, don’t forget that we still have to file our 2017 tax returns. So, for the next 11 weeks we’re here to help with our “Tax Tip Tuesdays.” The best place to start is by pulling your records together. And there’s good news for all you procrastinators out there—this year you have a few extra days to prepare. The filing deadline this year is Tuesday, April 17 because of a Washington D.C. holiday, Emancipation Day.

Here are a few additional tips to get you started:

  • Create a 2017 tax file so you have everything in one place. This may be an electronic file or a bin/folder that holds all your information.
  • Make sure you have received all your W-2s showing income earned during 2017. Remember if you changed jobs or have more than one job, you will receive multiple documents.
  • Identify the bank or investment accounts that will likely receive a 1099 and check them off as they arrive.
  • Gather charitable giving acknowledgements and receipts.
  • If you are self-employed, pull your business records together and be sure to include information about your quarterly estimated tax payments.
  • Think about any significant events that occurred in 2017—Did you get married? Have a baby? Any major medical expenses? These events may have an impact your tax return.

Benjamin F. Edwards &Co. does not provide tax advice, therefore it is also important to consult with your tax professional for additional guidance tailored to your specific situation.