Things to consider when filing your taxes

Things to consider when filing your taxes
Tax documents you need when filing taxes. (Source: Pexels)

(KSLA) - The IRS officially kicks off tax season Monday, Jan. 27.

If you’re still trying to decide if you want to file your own taxes or take them to a professional — make sure you know which option is best for you.

There's a lot to figure out when it comes to submitting your taxes. You know your finances best but here are some of the things you might need to get together first in order to do your taxes.

Most importantly you will need 1040 form which is the standard federal form. If you’re employed you need your W-2 form and if you’re self-employed you need a 10-99 form.

If you have student loans, most of the time you’ll need the 1093-E form.

Some other things to remember when putting together your paperwork would be your retirement income, educational expenses, property taxes, and your savings and investments from the year.

Also, consider any losses you faced during the year whether that be from a storm or other disaster. There is necessary paperwork for that as well.

It can get overwhelming but if you know which documents you need it can be less daunting.

Every person’s tax filing is different. Make it easier on yourself by gathering everything up now so you don’t scramble for it later. Weigh the pros and cons of filing yourself versus hiring someone. If it’s too complicated consider hiring an expert. If you can take advantage of free tax help if you qualify.

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