2 smart tips you need to know this tax season

Now that we are in the midst of tax season, members of the Finance Collective are here to give you tips and tricks on how best to take care of yours taxes this year. This week's tidbit of advice comes from The Funny Financial Planner. Check out her video above for the two suggestions you should take into consideration this tax season, and then review her tips below!

1. Get organized: Use this time to take inventory of your financial situation and see what you are succeeding with and what you are struggling with. The more you know about your finances, the easier it is to improve them.
2. Do not waste your refund: Resist the urge to blow your tax refund on frivolous items. Use the money that you get back from the IRS in a way that will set you up for future success, whether that means investing it or having it contribute to your emergency fund.

RELATED: Tools to use this tax season

8 PHOTOS
Tools to use this tax season
See Gallery
Tools to use this tax season
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

More from the Finance Collective
Automate your finances to be stress free
This trick could help you save money when you go shopping
How to start working from home and stay productive

Tax Tips for Freelance Writers and Self-Published Authors

If you earn money selling your words to websites and other publishers, the Internal Revenue Service will likely say you’re a small business owner. Freelance income is self-employment income, and so are any royalties you receive for that book you published or self-published. That can be a good thing, because the self-employed are privy to some tax perks that employees don’t usually receive.

Read More

Brought to you by TurboTax.com

Will the IRS Keep My Refund if I Didn't File My Taxes Last Year?

If you're concerned about your tax refund being held by the IRS because of unfiled returns, you have a couple of options to reduce or eliminate any extra wait for your current-year refund.

Read More

Brought to you by TurboTax.com

Video: Steps to Take When You Get an IRS Notice

When you receive a notice from the IRS, do not panic. Read the notice and then watch this video to find out what to do next.

Read More

Brought to you by TurboTax.com

Guide to Unemployment and Taxes

The IRS considers unemployment compensation to be taxable income—which you must report on your federal tax return. State unemployment divisions issue an IRS Form 1099-G to each individual who receives unemployment benefits during the year.

Read More

Brought to you by TurboTax.com
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.