Here are some things you should do to make tax season a little easier:

1) Find a special folder or box to collect all tax documents when they start snailing in in January/February. That way no matter who gets the mail, they know where to put the Important Tax Information.

2) Total up all your out-of-pocket medical expenses for the family. Is it getting close to 10% of your income? Might be time to schedule that physical or procedure you have been putting off! Remember dentists, chiropractors, and eye doctors count towards your total medical deduction.

3) If your medical expenses are no where near 10% of your income, it might be time to open a Health Savings Account (HSA). With a HSA, any funds contributed to the account are tax deductible now and tax free to use on qualified medical expenses. Since the end of the year is Open Enrollment for medical insurance, its a great time to make the change and save some cash!

4) Did your income significantly increase this year? If you finally got that raise at work, or you made a killing in the stock market, it might be a good idea to meet with your tax accountant for a meter reading. You still have time to adjust your withholding at work, or make an estimated tax payment to save on underpayment penalties. Also if your tax accountant says you will receive a big refund, you may want to lower the amount you are withholding so you have extra funds for holiday gifts! Maybe even your tax accountants will be on your Nice List this year!

5) If you are self-employed, its the best time to get your books up-to-date. Bookkeepers get very busy from Jan-April. It’s a good idea to get cleaned up before the rush!