Tax time tips: What you need to know this season

Woman preparing for tax season on her tablet.

Tax season is upon us again. And with it comes some big changes. Find out what’s new for your 2017 filing, and get tips for making the process less stressful—this year and next.

Learn what’s new

As you’re probably well aware, new tax reforms went into effect on January 1. And there are quite a few changes that will impact your 2017 filing. Get a quick snapshot of the 13 things you need to know right now.

Prepare ahead of time

Not sure which documents you should gather? This tax document checklist can help you figure out the personal, employment, and other information you’ll need to make the filing process go smoothly.

Get every tax deduction

Moving expenses to take a first job and refinancing mortgage points are just 2 of the 10 most overlooked tax deductions that could put more money back in your pocket. 

Lower your taxable income even more with these 4 last-minute ways to reduce your taxes.

Track your charitable donations

Learn what you can and can’t deduct, and how much you can apply to your total deductions for the year (limits have changed as part of the tax reform).

Organize documents and receipts

Your tax filing and deductions often vary from year to year—making it difficult to know which documents to toss and which to keep. These guidelines can help.

Plan for next year

Whether you’ve already filed or you’re preparing to, now’s the time to get your info in order. Setting up a filing system, digitizing your documents, and using apps are just some of the ways you can organize your tax documents now and throughout the year.

Simplify your finances

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The subject matter in this communication is provided with the understanding that Principal® is not rendering legal, accounting, or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.