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Tax Time Tip: Get Organized

Starting early key to stress free preparation

By Consumer Bob
|  Sunday, Feb 2, 2014  |  Updated 10:05 AM PDT
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Once again, tax season is upon us. NBC 7's Consumer Bob shares tips on how to prepare your taxes early and efficiently.

Once again, tax season is upon us. NBC 7's Consumer Bob shares tips on how to prepare your taxes early and efficiently.

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Deadlines have a way of adding to the stress of the tax season. 

The Internal Revenue Service starts processing tax returns on January 31.  The deadline for returns is April 15 but what happens in between can make a big difference to tax filers.

"I always tell clients to start with that deadline and work backwards," said Certified Financial Planner Mary Beth Storjohann.  She says the key to eliminating stress is breaking down the tax filing process and spreading it out.

"It seems a lot stressful if you are breaking it into steps as opposed to, I'm going to file my taxes today," said Storjohann.

That means taking one day to collect receipts, another day to organize them into income and deductions.  She says by breaking up the process, you'll be more complete and more in control.

"It's better to break it down, otherwise you are spending weekends and stress and you'll do a mad dash at the end," said Storjohann.

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