Filing your taxes early can be a smart move for several reasons:
- Faster Refund: If you expect a refund, filing early means you’ll get your money sooner. It can be a nice financial boost right when you need it.
- Reduce Stress: Procrastination often leads to unnecessary stress. Getting your taxes done early can give you peace of mind and free up your schedule for other important tasks.
- Avoid Penalties: If you discover that you owe taxes, filing early gives you more time to pay it, reducing the risk of late payment penalties.
- Prevent Identity Theft: Filing early can reduce the chances of someone else filing a fraudulent return using your Social Security number.
- Better Preparation: Filing early gives you ample time to gather all necessary documents and information, ensuring that you file an accurate return without missing any deductions or credits.
Your CPA will love you and have more time to do a great job on your return and offer great advice.