Of course this is nothing new. Records indicate about 20 percent of San Jose taxpayers fulfill their tax preparation within the last two weeks and about ten million in the country need an extension.

But you should not panic. The image of sitting at your dining room with an old calculator and a million receipts is a thing of the past. Now, anyone can file electronically and about seventy percent of all tax preparation returns in San Jose are filed electronically. If your income is less than $57,000, then you can even do an E-file for free.

However, if you do still use old receipts, you should upgrade and get a MINT account or some other financial planning software that is web-based. Just remember to fill out the data regularly and it will save you a load of worry in April.

If you’re anything like my buddy though, you’re probably saying “Yeah...that’s great advice for next year...But what about now?!”

Here are some tips so that you don’t lose your marbles this tax season.

MAXIMIZE DEDUCTIONS AND CREDITS

Nothing is worse than losing out on money that rightfully belongs to you. But that’s exactly what happens to millions of Americans each year. A qualified tax professional can help you make sure you don’t leave money on the table. There is also an IRS service to file for free if you have the proper income.

And even if you are a veteran tax filer, read up on the new laws that Obama passed. Because these write-offs are so recent, you should do a lot of research before filing. home buyers, educational professionals, school teachers, new car owners, newlyweds, and small business owners are just some of the people that qualify for these write-offs.

SIGN YOUR RETURN PROPERLY

You would be amazed by how frequently returns go unsigned. Often it is the result of choosing an improper filing status, or writing down a few digits the wrong way.

IF ALL ELSE FAILS, GET AN EXTENSION

Nothing is wrong with filing an extension and it’s not hard. If you file it by April fifteenth you can have until October. But just keep in mind that it doesn’t mean you can pay later if you owe. Otherwise you are looking at a penalty and interest rates. You can use TurboTax or a professional to pay without filing. The main thing is not to underestimate your payment. This is very important to not get dinged with unfair fees later on.

Tax preparation is a pain. But if you slow down and take the time to do it logically, you will save yourself a world of worry.