We’ve learned about the four seasons back in our elementary school years – winter, spring, summer, fall.
And then, later in life, we learned about the fifth and most dreaded season – tax season. But unfortunately, for many of us, we did not receive nearly the same level of education on this fifth season as we did on the other four, which leaves many of us feeling stressed out when this time of the year rolls around.
Taxes can be stressful, but they don’t have to be.
Find out how to make this tax season stress-free below!
Being organized is the golden rule for limiting the stress in your life when it comes to tax season.
First, figure out what documents you need. For example, if you have multiple jobs, make sure you get a T4 from each. And don’t forget about receipts for medical expenses or one of the other tax deductions you may have overlooked.
Next, grab some file folders and start labelling. Separating your documents into corresponding file folders will help keep things organized and whoever completes your taxes will thank you for it. Also, make sure you keep these folders so that you can add receipts throughout the following year. This will ensure you’re already organized by the time next tax season rolls around.
Procrastinating. We all do it. But it is probably one of the worst things you can do if you are trying to limit your stress.
Nothing says stress like realizing you only have one day left to complete a task before you receive a penalty of some kind. That penalty could be deducted marks on a school project, or in the case of your taxes, having to pay a fee for filing late. So, unless you want to pay unnecessary fees, DO NOT procrastinate.
Seek the help of a professional
Unfortunately, there was no mandatory course throughout our high school years that taught us how to do our taxes. So, it makes sense that many of us feel lost. Sure, there are some programs that can help like TurboTax, but seeking the help of someone trained in accounting is definitely the easiest way to eliminate your stress when it comes to tax season.
Visit the IGNITE Tax Clinic for FREE
What better way to make tax season stress-free than to have someone else do your taxes for you for FREE? Well, you can have that stress-free tax season this year by using the IGNITE Tax Clinic.
We have a team of trained accounting student volunteers ready to help you file your taxes. The tax clinic is open to any current Humber and UofGH students and will run from March 22 to April 30, 2021.
Spots fill up fast so be ready to book your appointment, starting March 8!
Treat yourself with your savings
End this stressful season with a little treat for yourself. Once your taxes are completed – courtesy of IGNITE’s FREE Tax Clinic – use a small amount of those savings to do something nice for yourself.
Self-care is important. Whether that means treating yourself to a Starbucks drink, ordering in a meal, or streaming the latest movie release for an at-home movie night. You deserve it. Relax. Your taxes are done.
Tax season never felt so easy.
Better prepare yourself for tax season by checking out the 5 things students need to know about taxes.