KSDT Offers Tips to Help Taxpayers Prepare for Tax Season

WSVN -- Get ready. Tax season is upon us, and all those finances from last year are coming back to haunt you. Have no fear. In tonight's Dollars and Sense, Lynn Martinez shows us how to tackle tax time without all the scary stuff.

Getting ready for tax season strikes fear into the hearts of many.

Caridad Vasallo: "I think that since it's only one time per year, you forget about it. It's one of those things that, you know, come April, it's due. But until April arrives, you're not going to be thinking about it."

Caridad Vasallo is not only a tax pro, but as a board member for the group, "My Man Is Not My Plan," she eases tax time turmoil for many.

Caridad Vasallo: "It could be rewarding for them in the aspect that they get a refund back."

Fight your fears by getting prepared.

Caridad Vasallo: "Go into it understanding that you need to have your documents organized and that you should have information available as support for what you're claiming."

Don't get spooked out. Instead, cash in on some deductions that are creeping by. One change many don't know about: deductions on student loan payments you're paying for your kids.

Caridad Vasallo: "The IRS is now allowing up to $2,500 to be tax-deductible for non-dependent children."

Looking for another job? The IRS is rewarding you for that, even if the job search wasn't successful.

Caridad Vasallo: "Some of those expenses include transportation costs, cost of printing out your resume and the cost of going to an employment agency. So, all of those can be deducted."

If you got that job, making a move can pay off too.

Caridad Vasallo: "If it's your first time being employed and you're moving for a position that is more than 50 miles away, you will qualify."

Those annoying airline baggage fees that terrify all of us are deductible too.

Caridad Vasallo: "You're self-employed, and you're filing a 1040, you can deduct the baggage fees involved with traveling for business purposes."

A bonus to getting it together this year: you're already ahead of the stress for next year.

Caridad Vasallo: "The right time to prepare for tax season is actually year round."


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