• Celebrity
    • Of The Essence
    • Celebrity News
    • If Not For My Girls
    • The State Of R&B
    • Time Of Essence
  • Fashion
    • 2023 Best In Black Fashion Awards
    • 2023 Fashion House
    • Red Carpet
    • Fashion News
    • Accessories
  • Beauty
    • Girls United: Beautiful Possibilities
    • 2023 Best In Black Beauty
    • Skin
    • Makeup
    • Nails
    • Hair
  • Lifestyle
    • Love
    • Parenting
    • Relationships
    • Bridal Bliss
    • Lifestyle News
    • Health & Wellness
    • ESSENCE Eats
    • Travel
    • Food & Drink
  • Entrepreneurship
    • Money & Career
  • News
    • Latest News
    • Paint The Polls Black
    • Culture
    • Politics
  • Shopping
  • Video
  • Events
    • 2023 Fashion House
    • 2023 ESSENCE Festival Of Culture
    • 2023 Wellness House
    • 2023 Black Women In Hollywood
    • 2023 ESSENCE Film Festival
    • 2023 HOLLYWOOD HOUSE
  • Studios
  • Girls United

WHERE BLACK CULTURE, COMMUNITY AND CONSCIOUSNESS MEET

Sign up for ESSENCE Newsletters the keep the Black women at the forefront of conversation.

Your email is required.
Your email is in invalid format.
Confirm email is required.
Email did not match.
Select the newsletters you'd like to receive:
Please select at least one option.
By clicking Subscribe Now, you agree to our Terms of Use and Privacy Policy.
Skip to content
SUBSCRIBE
  • MAGAZINE
  • NEWSLETTER
  • Celebrity
    • Of The Essence
    • Celebrity News
    • If Not For My Girls
    • The State Of R&B
    • Time Of Essence
  • Fashion
    • 2023 Best In Black Fashion Awards
    • 2023 Fashion House
    • Red Carpet
    • Fashion News
    • Accessories
  • Beauty
    • Girls United: Beautiful Possibilities
    • 2023 Best In Black Beauty
    • Skin
    • Makeup
    • Nails
    • Hair
      • Hair News
      • Natural
      • Relaxed
      • Transitioning
      • Weave
      • 4C
  • Lifestyle
    • Love
    • Parenting
    • Relationships
    • Bridal Bliss
    • Lifestyle News
    • Health & Wellness
    • ESSENCE Eats
    • Travel
    • Food & Drink
  • Entrepreneurship
    • Money & Career
  • News
    • Latest News
    • Paint The Polls Black
    • Culture
    • Politics
  • Shopping
  • Video
  • Events
    • 2023 Fashion House
    • 2023 ESSENCE Festival Of Culture
    • 2023 Wellness House
    • 2023 Black Women In Hollywood
    • 2023 ESSENCE Film Festival
    • 2023 HOLLYWOOD HOUSE
  • Studios
  • Girls United
Home · Money & Career

Questions To Ask When Filing Your Taxes

Here's how to win this tax season. 
Questions To Ask When Filing Your Taxes
Getty Images
By Kia Imani Robinson · Updated October 26, 2020

This article originally appeared on The Life Currency.

As you get older there are certain things that become a little more important. For example, April 18, 2017, isn’t just another Tuesday this year. In fact, this particular Tuesday is Tax Day, which means we have about six weeks to figure this out.

As with many “adulting” tasks, there are countless questions as one prepares for Tax Day. The tax process will not be the same for everyone so it’s important to understand how it will work for you. I spoke with Lisa Pegram, CEO and Founder of ITemind, a tax preparation service in Los Angeles, about the important questions to ask regarding tax preparation and filing taxes as we prepare for April 18.

Do I Have The Proper Documents?

There are a number of necessary documents you’ll need in order to thoroughly file your taxes. Our What You Need to Successfully File Your Taxes article can help you gather all the required paperwork. You want to make sure you have all of your W-2 forms, 1099 forms, proper identification and receipts from charitable donations and business-related purchases. (I was thinking we could hyperlink the other piece in this answer to drive readers to that piece as well)

Who Is Going To File My Taxes?
For most adults in first few years of the first job, your taxes are not going to be very complicated and there’s a great chance that you can file them yourself. “Ask yourself, ‘How convoluted are my taxes?’ Do you even need an accountant?” Lisa said. Accountants come with a price and it’s always a good idea to save money when and where you can. If you decide to do your taxes yourself, you can visit sites like TurboTax.com or ezTaxReturn.com.

Subscribe to our daily newsletter for the latest in hair, beauty, style and celebrity news.

How Do I Go About Seeking An Accountant?
Many people file their own taxes but as beginners, it’s always helpful to have some guidance and assistance. If you decide to seek an accountant for guidance, you want to make sure the accountant is right for you. “What are the accountant’s typical clients? Like every profession, people are experts at what they deal with more often,” Lisa shared. As previously stated, the tax process isn’t going to be the same for everyone so you want to make sure your accountant is well-versed in your particular needs.

How Much Is An Accountant?
Accountants are amazing because they provide adequate guidance with filing taxes. However, they also come with a price. “Some accountants charge by the hour and others bill a flat rate,” Lisa explained. When it comes to pricing and fees, “this is something you should get up front,” Lisa advised.  You want to make sure you don’t end up paying just as much as you get back. “Trust me, I’ve learned the hard way,” she says.

Is Your Accountant Conservative Or More Aggressive?
If you decide to seek an accountant, it’s important to know his or her history. “Some accountants want to write off everything they possibly can, while others take a more conservative approach,” Lisa said. Ask what kind of advice your accountant usually shares with their clients. Lisa always suggests a more aggressive approach.

TOPICS:  Money Minute
COMPANY INFORMATION
  • Our Company
  • Customer Service
  • Essence Ventures
  • Change Your Address
  • Contact Us
  • Job Opportunities
  • Internships
  • Media Kit
  • tag
SUBSCRIBE
  • Newsletters
  • Give a Gift of ESSENCE
  • Magazine Tablet Edition
FOLLOW US
MORE ON ESSENCE
  • Home
  • Love
  • Celebrity
  • Beauty
  • Hair
  • Fashion
  • ESSENCE festival

ESSENCE.com is part of ESSENCE Communications, Inc.

Essence may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.

©2023 ESSENCE Communications Inc. All Rights Reserved. | Privacy Policy | Terms of Use | Essence.com Advertising Terms

Get The ESSENCE Newsletter and
Special Offers delivered to your inbox

By clicking Sign Up, you agree to our Terms of Use and Privacy Policy.

Get The ESSENCE Magazine
by subscribing below
subscribe now