For many of us, Tax Season is a four letter word. By now, you might be starting to keep mental list of everything you want to change about filing taxes next year. Before you get ahead of yourself, do something to beat your stress right now.
Even if You Can?t Pay, Do Not Put Off Filing. This mistake gets people into huge trouble. If you know you?re going to owe more money than you can afford to pay right now, you must still file your taxes before the deadline. Pay as much as you can afford to when you file. Go to the Internal Revenue Service (IRS) website to locate the Online Payment Agreement Application to apply online. You may be able to pay over time.
Do You Need More Time?
File for an Extension. If you need more time to file, Form 4868 is what you?ll need to get an extension. Fill out that form or apply for an extension online through Free File before April 15th. It?s important to note, you must pay at least 90 percent of any money you owe in taxes by the April deadline, even if you get an extension. Less than that, you may be subject to a penalty despite your extension to file.
Hire a Professional
Consider Hiring a Tax Preparer. Whether you use a tax service or hire an individual, the stress of filing taxes yourself can be overwhelming. Most tax prep services are quite affordable for the average person filing standard tax forms. Some even guarantee that if you?re ever audited, they will pay your penalties. If you have complicated income, such as side business earnings, you may have to pay extra. However, the price might just be worth your peace of mind.
Don’t Eat It Away
Avoid Eating Your Stress Away. We all know it doesn?t work, yet so many of us reach for comfort food when we?re stressed out. All the junk you know you shouldn?t be eating, not only isn?t reducing your stress any, but it could be making you tired, bloated, and confused. Remember portion control and meal planning to help you avoid binging on unhealthy foods.
Get to the Gym
Don?t Skip Workouts. Stress can be exhausting, all that energy spent worrying. It?s tempting to skip working out, but don?t. The truth is, even if you have to drag yourself through a minimal workout, it will help you beat stress. Not only will a workout help take your mind off your taxes, it can increase endorphins, help you sleep better, and even improve symptoms of depression and anxiety.
Take Some Me Time
Pamper Yourself. You?ve made it through gathering your important financials, filing your taxes, waiting for the return or paying what you owed. Now that you?re through the worst part of tax time, take some time for yourself. It doesn?t need to cost you anything, depending on what makes you feel good. Whether you invest in quality accounting software, have a spa day, or just go for long, relaxing walk in nature, do something that makes you feel calm and rejuvenated. Your blood pressure will thank you for it.
Prepare for Next Year For example, if you need to change your withholdings, don?t wait. Do it right away. If you need to hire an accountant for your small business, start interviewing as soon as possible. Did you realize you hadn?t been keeping track of receipts so well? Find a file system that works for you and implement. The sooner you can make necessary adjustments, the less stress you?ll have at tax time next year.
Find a Good Supplement
Take Confianza! One of my favorite products to help our bodies deal with stress. You can be sure I am taking my Confianza during this time of the year.