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2016 Tax preparation guide for your Putnam accounts Everything you need to know to transfer information from your Putnam tax statements to your IRS tax forms, plus other useful information. Your Putnam
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How to fill out tax preparation guide for

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How to fill out tax preparation guide for?

01
Gather all necessary documents: Collect all relevant tax forms, receipts, and financial statements such as W-2s, 1099s, mortgage interest statements, and charitable donation receipts.
02
Organize your paperwork: Sort and categorize your documents to make the tax preparation process easier. Create separate folders or sections for income, deductions, and credits.
03
Understand your tax situation: Review any changes in your financial circumstances or tax laws for the current tax year. Familiarize yourself with any new deductions, credits, or exemptions that may apply to you.
04
Use tax preparation software or hire a professional: Decide whether you want to use tax preparation software or seek the help of a professional tax preparer. Evaluate your comfort level, complexity of your taxes, and budget before making a decision.
05
Input all necessary information: If using tax preparation software, follow the prompts and enter all required information accurately. If working with a tax preparer, provide them with all relevant documents and answer any questions they may have.
06
Double-check entries and calculations: Before submitting your tax return, review all entries and calculations for accuracy. Ensure that you haven't missed any income, deductions, or credits that you are eligible for.
07
Sign and file your tax return: If using tax preparation software, electronically sign and submit your tax return. If filing a paper return, sign it manually and mail it to the appropriate tax authority.
08
Keep copies for your records: Make copies of your tax return and all supporting documents for your records. Store them in a safe place for future reference.

Who needs tax preparation guide for?

01
Individuals with complex financial situations: If you have multiple sources of income, own a business, or have investments, a tax preparation guide can help ensure that you are correctly reporting your income and maximizing deductions and credits.
02
Self-employed individuals: Those who are self-employed typically have specific tax requirements and need to file additional forms. A tax preparation guide can provide guidance on how to accurately report self-employment income, deductions, and other relevant information.
03
Individuals with significant life changes: If you experienced significant life events such as getting married, having a child, buying or selling a home, or going through a divorce, a tax preparation guide can help you understand how these events may impact your tax situation and what deductions or credits you may be eligible for.
04
Anyone who wants to avoid mistakes or penalties: Filing your taxes incorrectly or missing important tax obligations can lead to penalties or audit risks. Using a tax preparation guide can help you avoid common mistakes and ensure compliance with tax laws.
Overall, a tax preparation guide is useful for anyone who wants to file their taxes accurately, maximize their deductions and credits, and navigate through the complexities of the tax system.
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