Coin’s guide to surviving tax season

Since this can be such a stressful time for our members, we’ve compiled a quick list of a few tricks and tips you can take to ease the pressure a little but this tax season.  

OVERPREPARE

Remember how you parents would ask you a million times if you had packed everything you needed before a family holiday? When it comes to your taxes, you need to switch on that kind of overbearing parental energy on yourself. Don’t leave anything to chance when it comes to filing—the most seemingly insignificant detail can turn into a big problem down the road. Go to your local stationary store, stock up on folders, and get organized!

WHEN IT DOUBT, ASK A PROFESSIONAL

Depending on where you live and what your profession is, your tax preparation can range from “filing a few online documents with your local ministry of finance” to “hoarding every single piece of paper that crossed your path in a 12-month period”. Although money is always tight around tax season, if you have any doubts about when or what to file, it’s best to seek the help of a professional. It’s much better to spend a few hundred at the beginning than be on the hook for much more later. 

IT’S BETTER TO GIVE THAN TO RECEIVE (DONATIONS, THAT IS)

Whether it be a political donation, or giving back to your favorite charity, keep a running tab of all the money you give away a year. It’s always tax deductible, and it’s a great way to give yourself permission to make the world a better place. For the price of your daily latte, you can really make a difference in someone’s life, and on your tax return! 

SCAMMERS NEVER SLEEP

Watch out for scammers—just like any other time of year, bad people who want to take your hard-earned cash are out and about during tax season. Your local financial authorities will only contact you via mail or your designated accountant. Any emails or other forms of communication promising to fatten your tax rebate or things of that nature are likely scams; proceed with extreme caution!

REMEMBER, BREATHE

Tax season can be scary, especially in these uncertain economic times. Make sure to take time for yourself, whether that be exercising, going on a long walk, or even just having a quiet night in while you prepare your paperwork. Bu attacking the problem bit by bit, it will get less stressful, until the whole ordeal is put behind you. That is… until next year!