Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (2024)


It’s that time of year that we all, especially us freelancers dread- tax season! Over the past few years, tax prep has become completely overwhelming to the point that it feels as if I take on an entirely new job. Most staff or salaried employees only receive one w2, but as a freelancer, everyone of my clients sends me a separate 1099 form. This mountain of paperwork, coupled with the need to save every receipt and document every single expenditure, as well as documenting each and every expenditure is mind boggling. And to add to the workload, Jason too is self employed. That’s double the receipts, double the 1099s, and double the bookkeeping!

Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (1)Keeping our paperwork organized and running efficiently is critical to daily operations. Recently, while printing docs to send to the accountant, we realized that it was time for new printer. Our old machine liked to freeze up, or print partial pages due to clogged up inkjets, so we needed to make a change fast. After researching a few printers, we discovered the Canon MegaTank All-in-One Printer. As you know, I am a lover of all things Canon, so I was sold as soon as I learned some of its capabilities. Since Jason and I both work from home at times, we may need to print from multiple computers or devices. With that, Wireless printing is a must.

Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (2)I am not a very tech savvy person by any means. When it came time to set up our printer, I am happy to report, I did it all by myself. This included filling up the refillable ink tanks. Since the MegaTank has integrated refillable ink tanks, you can print up to 30 times more ink compared to standard cartridge sets, allowing you to print larger quantities of documents for longer periods of time. With a Continuous Ink Supply System, the ink tanks are outfitted with multiple airtight tubes, delivering a continuous flow of ink that makes printing larger quantities more efficient and productive. Considering the way our last printer clogged up and printed partial pages, I was excited by this ink system.

Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (3)This Canon MegaTankcan print up to 6,000 black text pages and 7,000 color pages, so what does this mean? It takes a lot for this bad boy to run out of ink. With printing everything from tax documents, to kids’ homework, to photos, there is no need to run to a copy shop to get it all done. Plus, with two full-size BONUS black ink bottles that come with the machine, you can print up to 18,000 black and white pages!

Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (4)

I even downloaded the Canon Print App, from the App Store, so I could print directly from my smartphone! This feature is key for me, since I usually multitask, working off my phone and computer throughout the day.

Another feature that wasn’t available on my previous printer was the auto document feeder, allowing me to scan, copy, or fax multi-page documents. This is major! After a package to our accountant went missing last year, I will never send anything off without having another copy on hand. Fortunately, that package surfaced. But if the documents got lost in the mail, starting from scratch would have been a disaster.

Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (5)

Through the years, we have found little tricks to make tax season less stressful. We review finances on a monthly basis. We also balance all bank and credit card statements as soon as they are generated. It’s tough to find this time each month. But I promised its much easier than trying to enter or reconcile 12 months of statements.

Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (6)

Previously, I thought having my credit card statements were enough. An audit a few years ago taught me otherwise. I will tell you this: save all of your receipts, and keep a log of your business activities. This will help you determine what that meal in November was for, and why you took a $30 cab in June.

Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (7)

Find an accountant who understands your business. I’ve been through several accountants over the years, and learned how important this can be. Some tax professionals specialize in certain field, and have a greater knowledge of your specific needs and business practices.

Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (8)

And my final tip, get the Canon MegaTank All-in-One Printer. By allowing me to print so many tax documents at once, minus the paper jams and ink issues, it has saved us this tax season. And I’ve started printing out my favorite photos from our Paris trip. I cannot get over the quality of my new printer!

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Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (9)

photography: Lauren Kara

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14 thoughts on “Tips & Tricks For Making Tax Season Less Painful”

  1. March 15, 2019 at 3:40 pm

    I love this! Anything I can do to make tax season easier and less like pure torture is always welcome. Doing taxes is the 9th circle of Hell.

    Reply

  2. Deanna

    March 15, 2019 at 5:49 pm

    Canon products are wonderful and this seems like an asset for the home office. I’ve used the same tax preparer for 18 years, as she is very informed of how to handle taxes for the self employed. I dread this time of year and gathering up all the necessary documents.

    Reply

  3. March 16, 2019 at 12:01 am

    You have the right idea– get organized to make preparing taxes go much more smoothly. We have a special place we keep all financial statements, paystubs and past tax statements. It makes it a snap when it’s actually time to sit down and plug in the numbers when we’re ready to file. No looking, no searching, no headaches.

    Reply

  4. Jacque Hooper

    March 16, 2019 at 6:24 pm

    Sounds like an awesome printer! I Just bought an Epson about a week ago; what a bummer as this one sounds awesome!

    Reply

  5. March 16, 2019 at 6:25 pm

    I am in need of a new printer! I found your post at the right time, it seems! Like you, I am also a fan of Canon products; they’re great!

    Reply

  6. Catherine Santiago Jose

    March 17, 2019 at 2:50 am

    Wow, that was an awesome printer and I am glad that it has a feature that you can print from your phone. Canon really have a great products and I love them!

    Reply

  7. March 17, 2019 at 8:51 am

    For me, an accountant is definitely the way forward. I find it a headache and just prefer to set aside money to pay them this time each year!

    Reply

  8. March 17, 2019 at 11:23 am

    I have always had a Canon printer and it never lets me down.

    Reply

  9. March 18, 2019 at 10:50 am

    I love your office space…so beautiful and stylish! The printer looks great. Canon is such a great brand you can never go wrong!

    Reply

  10. March 18, 2019 at 3:03 pm

    My printer just died on me and now I am seriously considering the Canon printer after reading your post. The printed photos look great

    Reply

  11. March 18, 2019 at 7:56 pm

    That printer looks so nice! I’ve been in the market for a new one for a while, I’ll have to check this one!

    Reply

  12. March 20, 2019 at 6:20 am

    Tax season sounds ever so complicated in the US! This is a great guide for making it a little easier for people.

    Reply

  13. Miriam

    April 24, 2019 at 10:39 pm

    I know it’s a little late for this year–or even a lot late for freelances/payers who hire subcontractors. But for any entrepreneurs out there looking for cheap 1099 software for January tax prep, I recommend this software provider: https://www.1099-etc.com/

    Reply

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Tips & Tricks For Making Tax Season Less Painful | Stroller in the City (2024)

FAQs

How can I make my tax season less stressful? ›

Stress-Relieving Tips

To avoid last-minute stress, file early and break up the job into little pieces, Mellan suggests. Do your taxes while listening to music or whatever else makes you feel relaxed. For filers with math anxiety, Mellan recommends hiring a preparer or investing in tax software.

What are some ways to make tax season easier? ›

Steps you can take now to make tax filing easier
  1. View your tax owed, payments, and payment plans.
  2. Make payments and apply for payment plans.
  3. Access your tax records.
  4. Sign power of attorney authorizations electronically from your tax professional.
  5. Manage your communication preferences from the IRS.
Mar 19, 2024

Why is tax season so stressful? ›

Financial stress can happen all year long. While tax season is only a window of time, it comes with something that can be daunting: a deadline. Some might find a deadline motivates them to get things done, while others can feel paralyzed by it, said Dr.

How do I get the most back from tax season? ›

4 ways to increase your tax refund come tax time
  1. Consider your filing status. Believe it or not, your filing status can significantly impact your tax liability. ...
  2. Explore tax credits. Tax credits are a valuable source of tax savings. ...
  3. Make use of tax deductions. ...
  4. Take year-end tax moves.

What lowers your taxes the most? ›

Contributing significant amounts to deductible retirement savings plans. Participating in employer-sponsored benefit plans including those for childcare and healthcare. Paying attention to items like child tax credits, the retirement saver's credit, the foreign tax credit and the dependent care credit.

Can you calm yourself on taxes? ›

You cannot claim yourself as a dependent on taxes. Dependency exemptions are applicable to your qualifying dependent children and qualifying dependent relatives only. You can, however, claim a personal exemption for yourself on your return. Personal exemptions are for you and your spouse.

How stressful is tax season? ›

One of the major takeaways: It's clear that, despite most people having a good grasp of their taxes generally, there's still a noticeable craving for better understanding. An impressive 64% admitted that tax season introduced a level of stress to their lives, reinforcing the need for improved financial literacy.

What are 3 ways you can prepare for taxes? ›

Decide how to file your taxes

There are three main ways to file taxes: Fill out IRS Form 1040 by hand and mail it (not recommended), File taxes online using tax software, or. Hire a human tax preparer to do the work of tax filing.

How can I save big on taxes? ›

8 ways you can save on taxes in 2024
  1. 7 min read | January 03, 2024. ...
  2. File on time. ...
  3. Increase retirement account contributions. ...
  4. Add to 529 college savings. ...
  5. Contribute to your health savings account (HSA). ...
  6. Open a flexible spending account (FSA). ...
  7. Fine tune your paycheck withholdings.
Jan 3, 2024

Is tax anxiety a thing? ›

Financial stress during tax season can manifest in different ways, whether that's procrastinating on your tax return until the last minute or experiencing intense stress about filing incorrectly. If you're dealing with financial stress right now, you're not alone.

What month do most people do their taxes? ›

Therefore, tax season is usually considered to be between Jan. 1 and April 15.

What is the only thing that hurts more than paying an income tax? ›

The only thing that hurts more than paving an income tax is not having to pay an income tax.

What is the average tax return for a single person making $60,000? ›

If you make $60,000 a year living in the region of California, USA, you will be taxed $13,653. That means that your net pay will be $46,347 per year, or $3,862 per month.

Is it better to claim 1 or 0 on your taxes? ›

By placing a “0” on line 5, you are indicating that you want the most amount of tax taken out of your pay each pay period. If you wish to claim 1 for yourself instead, then less tax is taken out of your pay each pay period. 2.

How to get $7000 tax refund? ›

Requirements to receive up to $7,000 for the Earned Income Tax Credit refund (EITC)
  1. Have worked and earned income under $63,398.
  2. Have investment income below $11,000 in the tax year 2023.
  3. Have a valid Social Security number by the due date of your 2023 return (including extensions)
Apr 12, 2024

How bad is tax busy season? ›

Tax season can be one of the most stressful times for accountants and other accounting professionals. During this busy accounting season, accountants usually work long hours to meet tight deadlines while also ensuring clients' confidentiality.

Is filing taxes stressful? ›

It can also bring intense feelings of stress or anxiety about dealing with finances. Financial stress during tax season can manifest in different ways, whether that's procrastinating on your tax return until the last minute or experiencing intense stress about filing incorrectly.

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