Are There Significant Benefits of Filing Taxes Early?

The short answer: Yes. Even though most would rather forget about their taxes, the benefits of filing taxes early can be very helpful.

Get your money sooner. Obviously the quicker you file, the quicker you receive your return. Make sure however that you don’t expect to receive your refund before the IRS is able to give you the money.

Financial aid assistance. If you’re a college student or a parent of a college student, one of the benefits of filing taxes early ensures that you receive the largest amount of financial aid possible. There is a direct correlation between the IRS and the Free Federal Student Aid application, therefore tax information is sent instantly to any financial aid form of your choice.

Preventing identity theft. Tax season is among the times where identity theft occurs most. By filing your taxes early, you diminish the opportunity that a thief has filed a return in your name.

Not to mention the fact that waiting to file until the April 15th deadline can be a stressful pain in the you-know-what. Now is finally a chance to stop procrastinating, just like we all said we would in high school!! On second thought, maybe we’ll just start next year. For all your personal and business tax needs, take advantage of all of the benefits by working with the experts at Numerico.

From the benefits of filing taxes early to help with estate planning, starting a business, consulting, bookkeeping, selling a business, and more, our team is here to help! Contact us today at (313) 278-8030 to schedule your appointment.