3 Things You Can Do Right Now to Make This Year's Taxes Easier

Though the 2020 tax season hasn't officially begun, the IRS recently announced that it will start accepting returns on Jan. 27. And while taxes aren't due until April 15, it never hurts to get a jump start on the process. These key moves will set the stage for a smooth filing.

If you're planning to take the standard deduction on your 2019 tax return, then you'll mostly need to sit back and wait for your W-2 and 1099 forms to arrive in the mail or electronically. But if you're planning to itemize on your tax return, then there's a host of documentation you'll need on hand to ensure that you claim the appropriate deductions.

If you own a home, you'll need a copy of your mortgage interest statement for 2019 and records of the property taxes you paid. If you're self-employed and primarily work from home, you'll also need the right information to claim your home office deduction. That includes receipts for direct expenses like supplies and equipment needed to do your job, as well as payment details on indirect expenses like utilities, homeowners insurance, maintenance, and repairs.

Source Fool.com