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How can I properly prepare an account for filing taxes?
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1. Gather all the documents you need, such as your income statement, W-2s, 1099s and receipts for deductions.
2. Make sure all of your documents are up-to-date and accurate.
3. Estimate your tax liability by using an IRS tax calculator or a tax preparation software.
4. Set aside enough money to cover the estimated amount of taxes you owe.
5. Contact a tax professional to get help if you are unsure of filing on your own.
6. File your tax return with the IRS on time to avoid penalties and interest.