Yes: It’s tax season. Are you stressed? One reason people find taxes stressful is because there can be a lot of uncertainty baked into the process, like if your income has changed, or if you got married or experienced unemployment, you might not be sure what forms you must fill out. To avoid last-minute stress, file early and break up the job into little pieces. More than half of Americans say they become very stressed around tax time – so here are some techniques to help you get over the finish line and put what can feel like a monumental task behind you.
Do some prep work.
Reduce uncertainty by taking time to read about and gather your needed materials. Create a folder for different categories so that it’s easy to sort your paperwork when the time comes:
- Income documents (W-2 and 1099 forms, income from rental properties, etc.)
- Deduction and credit items (childcare expenses, charitable donations)
- Life change papers (marriage or birth certificates)
- Other
Knowing that you have everything you need to get started will help make the process feel less overwhelming.
Arm yourself with tools to make filing easier.
Make a game plan for tackling your taxes. Everyone’s needs are different, so take some time to think about what suits you best. Here are the three main options: file your own taxes for free; use a tax filing software like TurboTax or hire a tax professional to file for you as some people with a more complex tax situation may benefit from hiring a professional to file for them.
Split the task into smaller milestones.
While there’s no one right way to tackle your taxes, creating smaller goals along the way to help you stay motivated is a good idea. Creating milestones or smaller tasks can help you gain motivational momentum to propel you across the finish line. Taxes are due April 15, 2025, but the government starts accepting and processing tax returns in late January. Starting early will allow you time to adjust if any new credits or deductions arise in the process. Here’s how you might break up the task of filing taxes into smaller goals.
Goal 1: Gather your documents (January/February). W-2 forms and other common documents will begin arriving in January. Put them in a dedicated folder so you’ll be ready when it’s time to file.
Goal 2: Decide on a strategy and confirm it (February). Take some time to decide how you want to file. If you’re using a tax prep provider like TurboTax, create an online account and get started (or download to your device and make sure it’s installed properly). Hiring a pro? Call or make an appointment online.
Goal 3: File your taxes (March/April). If you’re filing with a tax prep provider like TurboTax, you don’t have to complete your taxes all in one sitting. Keep track of your username and password so you can easily log back in the next time you’re ready to work on your taxes.
Reframe your mindset
“Embracing a positive mindset during tax time can significantly influence the outcome of your efforts” says Randy Albert, vice president of Finance, Eastern Maine Medical Center and chief analytics officer, Northern Light Health “Try reframing your perspective by picturing the satisfaction you'll experience upon completion and maybe even rewarding yourself with something special” he says.
Celebrating your accomplishments, no matter how small, is key to maintaining motivation and fostering a sense of pride in your achievements. As tax season unfolds, remember that a well-structured plan can turn challenges into manageable tasks. Embrace the sense of accomplishment from tackling your taxes efficiently and look forward to potential rewards. Whether it's a tax refund fueling your financial goals, or the satisfaction of conquering tax season, embrace the journey and relish the positive outcomes that await.
For other articles related to stress, visit the three links below.