How looking ahead to next year's tax season could save you money

Rita Garcia Image
Tuesday, May 2, 2023
Tax season 2024: How looking ahead to next year's season could save you money   
The 2023 season is over, but there are things you can do now to start preparing for 2024. Here are some tips from Baker Ripley tax centers.

It's never too early to start thinking about next tax season now that the deadline to file last year's is over.

For those who filed an extension, you have until October, but experts say, don't wait since it could not only save you time but hard-earned money.

The tax experts over at Baker Ripley tax centers have been serving our neighbors since 2009.

Through this alone, they've already helped file over 30,000 returns for free for those under the $58,000 annual income threshold.

Christina Cave, the community relations senior manager at Baker Ripley, says after helping so many taxpayers, there are a few ways to save for next year.

If you're a ride-share driver, make sure to track your mileage and report all earnings, no matter how small.

Cave says it could save you a big headache.

"Imagine tracking the whole year, on your own, just guessing and just going back to each of those rides. So just make sure to do that soon because it really makes life easier and then you're not missing any money," she said.

During the pandemic, Cave says, many people may have worked multiple jobs and still do today. You want to make sure you're claiming all your earnings on your taxes, so have all your paperwork ready.

"Keep track of each job you have during the year and also the timeframe you worked on that because the following year, in January, you need to make sure that you are receiving your W2s or your 1099s from those employers because they are taking taxes from that and it's possible that is money you may get back as a refund," Cave said.

She also suggests making sure your W4 is up to date with your employer. The information will tell them how much taxes to take out of your paycheck based on dependents you claim, marital status and how you plan to file. You can change the information at any time.

"Let's say this past tax season you had that ugly surprise that they withhold way too much taxes or way too little taxes, just go back to your employer and tell them, 'I want to update my W4,'" Cave said, adding that it's a simple process.

The Baker Ripley tax center has 12 locations in our area.

They will be open next week through October for those who filed an extension, need help with amendments or need to go as far back as their 2018 returns.

Again, the services are free and for those who make under an annual income of $58,000.

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