Tax season: the most wonderful time of the year?
Tax season is upon us once again. The task can be daunting as people try to navigate through forms and procedures, making sure that they do it right. Knowing that, the Sheridan Accounting Student Association (SASA) is organizing two free tax clinics at the HMC campus to help student sort through and demystify the process. Students, as well as faculty and staff members, will be able to learn how to file taxes using UFile, a free online software. They will also have the chance to complete their filing during the clinic and obtain assistance if needed.
“As students in the accounting program, we really want to provide this benefit to everyone at HMC, especially students. Taxes sound complicated, but we want to change that perception through offering resources like this,” said Ahmed Manzoor, President of the SASA.
The clinics will take place on March 21 (2:00 PM – 4:00 PM, in HMC B592) and on March 27 (12:00 to 2:00 PM, in HMC A315).
To register, fill out this form and the SASA will contact you with more details.
Another great opportunity to get involved with the tax clinics is to serve as a volunteer. If you have taken at least one tax course or has experience in the field, SASA would love to hear from you. As previous experience is not required, the association will provide training on March 20th (12:00 PM – 2:00 PM at SSU Clubsroom at HMC). The training will be conducted by by faculty advisor, Kiran Grewal, CPA. All volunteers will receive a certificate of participation, which can be added to their resumes To sign up to volunteer, fill out this form by March 19th.
If you have any questions about the tax clinics, you can email SASA at firstname.lastname@example.org
Remember that the deadline to complete your 2017 tax return is April 30th, 2018.
Tax Tips from SASA
We asked SASA to share three important tips to consider regarding tax filing. Check them out:
1) Be punctual and get taxes done properly.
As we have a couple of months to complete our filing, we can relax too much and risk missing the deadline, which will result in late-penalty fees. Running out of time may also cause people to file taxes incorrectly. That may incur several issues now and in the future.
2) Keep paperwork organized.
You need to keep your paperwork and documents organized, not only for the year you’re filing your taxes for but also for the previous years. It’s important to keep all your records such as your T4 forms you receive from employers and receipts for purchases you want to claim on your return. Once you’re done with the filing, archive all the paperwork – don’t throw anything away. You never know when you may need to refer back to them.
3) Take the time to understand the tax filing software.
When it comes down to it, tax filing is a pretty straight forward process. Nowadays, there are so many great free resources online like UFile and Turbo Tax that are intuitive and user-friendly. If you’re using a software for the first time, take some time to watch tutorials and learn your way around it before starting.
By Tatiana Almeida