Happy February! Spring will be here before we know it, but that means tax season is also on its way. If you procrastinated on your taxes last year, try to get a head start this time around. Taxes may be stressful, but giving yourself extra time will help you cut down on headaches and mistakes. To get started, follow the following steps in our tax preparation checklist:

Step 1: Gather Your Documents

You know that you’ll be receiving a lot of tax documents at the beginning of the year. This doesn’t stop at W-2s, either. Watch for your 1099s, insurance documents and mortgage and bank information.

Self employed? You’ll also need contractor information and business expenses, so gather that information well in advance.

Here’s a quick tax preparation checklist:

Income W-2
1099-INTs from savings accounts
Roth Conversion – 1099-R
Health Insurance 1095-A
HSA Distributions/HSA Contributions
Roth IRA Contributions/IRA Contributions
Mortgage Interest Statement – 1098
Charitable Contributions
Home Improvement – Energy Efficient Deductions
Student Loan Interest – 1098-E
Childcare Costs
Taxes you’ve paid – real estate, state & local, & personal property

Step 2: Factor in Life Changes

Was this a year of major change for you? If you got married, bought a house, had a baby or started a business, these are just some of the life events that can affect your filings. Within the past year, did you do any of the following?

Marry/divorce?
Changed jobs?
Changed/opened new bank accounts?
Start a business/sell a business?
Acquire any stock/sell any stock during the year?
Move?
Take out a home equity loan?
Take out student loans?
Did you enroll for health care coverage under the Affordable Care Act?
Gift more than $14,000 during the year to 1 individual?

Step 3: Determine How You Will File Your Taxes

There are three main options when it comes to doing your taxes: preparing them manually, using software to assist you, or working with a professional tax preparer. If your tax filings haven’t changed much in the past year, then you may not need to work with a preparer. There are some programs out there that will walk you step-by-step through the process (think TurboTax, TaxAct or H&R Block.)

But if you’ve gone through any life changes that could complicate your taxes this year, working with a preparer face-to-face can be well worth the cost.

Step 4: Assess Your Withholdings

If you get a large return from taxes each year, you might be paying too much in taxes during the year. You can combat that by increase your allowances so your pay can increase. Be careful not to withhold too much because you may end up owing come tax time.

You can also increase your 401k contributions when you increase your allowances, because then that withholding with go directly to your retirement account. That’s one way to ensure your return is being spent wisely, and will grow over time.

Step 5: Contribute to Your IRA

Don’t worry if you This is an eleventh-hour task that can still count for this year’s taxes. So even if you’ve seriously procrastinated on this step, you can get it done right before you send in your taxes in April.

Step 6: Assess Your Weaknesses

What’s holding you up from getting your taxes done this year? Is it trying to locate your important documents? Finding receipts for all your write-offs? Trying to make sense of new forms? Avoid those frustrations next year by making note of them this year. Set aside a folder at the beginning of the year to put all of your tax information in throughout the year, or commit to documenting your write-offs on a monthly basis. If you set smaller goals throughout the year, tax time next year will run much smoother.

Looking for more? Check out savings and tax benefits for new parents, and what to look for in a 401k plan.

Get Ahead with a Tax Preparation Checklist