EP 120: How to Have a Smooth Tax Season

Balancing relaxation and recovery from irregular work schedules and family obligations is difficult enough for ER docs. Now throw in a considerably more complex tax situation than the average American, and it makes filing taxes correctly, timely, and without penalty, a difficult endeavor. The only way to achieve this, whether working with a preparer or not, is to have a process in place.

In this episode, we’ll discuss deadlines you need to know this year, the best way to ensure you don’t incur any penalties, and the risks associated with filing too early.

Topics Discussed:     
  • When tax season officially starts.
  • Deadlines you need to know this year.
  • How extensions work.
  • The best way to ensure you don’t incur any penalties.
  • How retirement contributions work into your tax planning and timing.
  • Why a refund should (ideally) be small.
  • The risk associated with filing too early.

Resources Mentioned:

Tags

tax season, annual report, due dates, avoiding penalties, filing taxes,