Taxes don’t have to be overwhelming! In this session, you’ll learn everything you need to know to set yourself up for success when it comes to payroll taxes, exemptions, tax credits, recordkeeping, and filing. We’ll cover the essentials of how taxes work, including understanding payroll deductions and optimizing your exemptions to keep more in your pocket throughout the year.
You’ll also learn strategies for maximizing your tax refund, how to keep accurate records, and how to navigate tax credits you might be eligible for. For those who work as contracted employees, we’ll dive into tax tips specifically tailored to help you manage self-employment taxes, deductions, and estimated payments.
By the end of this session, you’ll be prepared to handle your taxes with confidence, ensuring you’re maximizing your refund and minimizing any surprises come tax time!
- Recent Pay Stubs:
- Your most recent pay stubs will help you understand how payroll taxes are being withheld and allow you to identify any potential adjustments or exemptions.
- Tax Documents (if available):
- Any prior year tax returns (e.g., W-2, 1099, or 1098 forms) to get a better sense of your filing history and potential tax credits or deductions.
- A List of Tax Deductions or Expenses (for contracted employees):
- If you’re a contractor or self-employed, bring a list of business-related expenses (e.g., home office, travel, equipment) that you might want to claim as deductions.
- Information on Your Dependents (if applicable):
- If you have children or other dependents, have their details ready to understand eligibility for credits like the Child Tax Credit or Dependent Care Credit.
- Questions About Your Tax Situation:
- Bring any specific tax-related questions or concerns you have—whether about your current withholding, how to optimize your refund, or tax considerations for self-employed individuals.
- A Financial Organizer or Budgeting App:
- This can help you stay on top of recordkeeping throughout the year, making tax time easier and ensuring you don’t miss out on deductions or credits.
- A Notebook or Digital Device for Notes:
- Prepare to take notes on tax-saving strategies, deductions, credits, and tools that can make your tax process smoother and more efficient.
Having these details will ensure you get the most out of the session and leave with a solid understanding of how to optimize your taxes!