“5 Tips for Early Tax Preparation”

Financial Horizons: Insights for Building Wealth and Securing Your Legacy

By Dr. Jose G. Cardenas, Chief Tax Strategist at The C & R Group, LLC

Getting a head‑start on tax preparation is not just smart — it’s strategic. When you begin the process early, you give yourself time to gather documents, identify savings opportunities, and avoid costly mistakes or deadlines. Here are five essential steps to help you prepare in advance and file with confidence.

Why Early Tax Prep Gives You a Better Edge

According to the Internal Revenue Service (IRS), gathering your tax records ahead of time and preparing proactively “can help you file an accurate return and avoid delays that can slow your refund.” IRS By preparing early, you reduce last‑minute stress, uncover deductions you might otherwise miss, and avoid pitfalls like identity theft or rushed filings. Investopedia+1

5 Tips for Early Tax Preparation

1. Gather Your Paperwork in Advance
Collect everything you might need: W‑2s, 1099s, investment statements, receipts, and documents for deductions or credits. The IRS lists these as key components to have on‑hand to avoid delays. IRS+1
Set up folders or a digital organizer so you’re not scrambling when tax season begins.

2. Get an Early Estimate from a Tax Professional
Connecting with a tax professional early allows you to:

• assess whether you’ll owe taxes or receive a refund
• identify potential tax‑saving strategies or required estimated payments
• plan for any changes in your financial situation
  By planning ahead, you avoid surprises and can budget accordingly.

3. Make a Plan for Your Deductions
Identify deductions and credits you may be eligible for, such as home‑office use, business expenses, education credits, or retirement contributions. According to TurboTax, staying current on law changes and deduction eligibility is key to reducing tax burden. TurboTax+1
By mapping out deductions early, you maximize your savings and ensure documentation is ready.

4. Start Saving Now for Next Year’s Taxes
If you expect to owe taxes, begin saving toward that obligation now so you’re not caught off‑guard. Early preparation gives you time to allocate funds, make estimated payments, or adjust withholding.
File early also reduces opportunities for fraud: filing sooner leaves less time for identity theft schemes. Investopedia

5. Stay Organized Throughout the Year
Don’t wait until the final weeks before filing to sort through receipts or locate statements. Maintain organization with recurring habits such as:

• monthly reviews of income and expenses
• digital backups of key documents
• flagging major life events (e.g., job change, home purchase) which may affect taxes
  A steady organizational system keeps you ready, aware and confident when filing time arrives. Navy Federal Credit Union

Your Next Step

Make early tax prep part of your financial rhythm, not just a reaction to deadlines:

• ✅ Choose one hour this week to gather last year’s key documents.
• ✅ Schedule a call with a tax strategist to review your 2025 tax posture.
• ✅ Set aside dedicated time each quarter to update your records and review withholding or estimated payment needs.

📅 Ready to build your proactive tax strategy?
👉 Book your personalized tax strategy session now
🌐 Visit www.thecrgroupllc.com to learn more.

About the Author

Dr. Jose G. Cardenas is a retired U.S. Army Finance Officer and the Chief Tax Strategist at The C & R Group, LLC. With a Doctorate in Business Administration and over 20 years of experience in financial strategy, tax planning, and life insurance, Dr. Cardenas helps individuals and business owners protect their wealth and build lasting legacies.

📌 Disclosure: This article is for educational and informational purposes only and is not intended as personalized legal, tax or investment advice. Dr. Jose G. Cardenas provides tax advisory services through The C & R Group, LLC. Insurance strategies, including Indexed Universal Life (IUL) and annuity products, may be offered through his role as a licensed financial professional affiliated with Experior Financial Group.

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