Lots of people only think about taxes once a year, typically around the April deadline. But keeping up with your tax situation throughout the year can save you money and help you avoid surprises. You don't have to own a business or have a complex financial life to benefit from it. Anyone who wants to feel more in control should consider a year-round approach. At Myrick CPA, we help our clients plan ahead so tax season doesn't catch them off guard. Here are a few steps you can take now to make filing easier later.
When you stay on top of your tax situation throughout the year, you're less likely to miss out on deductions or get caught off guard by what you owe. Planning helps you:
It also makes it easier to respond if the IRS ever sends a letter or asks for supporting documents.
Several common life events can change your tax situation. If any of these apply to you, it's smart to check in with your CPA:
Each of these changes can affect your filing status, deductions, and credits.
A little organization goes a long way. Set up a system to collect key documents as they come in. That could be a monthly folder on your computer or a file drawer in your home office. Include:
This habit makes it easier to itemize deductions if that ends up saving you more than the standard deduction.
There are several smart moves you can make before December 31, 2025:
These are all areas where a tax professional can give you guidance based on your personal finances.
What documents should I keep for taxes throughout the year?
Keep your pay stubs, W-2s, 1099s, receipts for business or medical expenses, and acknowledgement letters from organizations to which you made charitable donations.
When should I talk to a CPA about tax planning?
It's a good idea to check in whenever your income or family situation changes or at least once a year.
What's the benefit of itemizing deductions?
If your itemized deductions are higher than the standard deduction, you could reduce your taxable income and pay less overall.
Myrick CPA works with clients to help them make smart decisions at every stage of the year. Whether you're navigating a life change or just want a clearer picture of your finances, we're here to help. We offer personalized advice and insights based on decades of experience.
If you want a smoother tax season next year, schedule a mid-year planning session with Myrick CPA. Reach out now to get ahead of the end-of-year rush.
Contact Myrick CPA and we'll help you get organized, make smart financial choices, and avoid stressful surprises by the time April rolls around.