Chief Tax Officer for Jackson Hewitt Tax Service, Mark Steber, says start by reviewing your income and withholdings.
"If you're an employee, take that June 30 pay stub, get that out," he said. "Multiply it by two. You adjust for the bonus that you're in if you get that. Otherwise, you've got about 12 more payroll periods. It's really easy to see where you'll be at the end of the year. Do the same thing with your income tax withholding. You've got your year-to-date withholding. Twelve more payroll cycles, multiply that by 12. Now you have your base income and you have your withholding or your taxes paid in."
It's an exercise that can expedite the tax process and ensure you're not getting surprised when preparing your return.
"Not only does it make it easier, but it's also just a financially prudent, smarter way to approach your single largest financial transaction," Steber said. "You transform from a hope and a luck strategy to an actual strategic planning, actionable set of things to do to get you the result that you want.
In addition to any life changes that may occur, there are federal and state tax changes to keep in mind.
"Yes, we have the new tip deduction, overtime deduction, senior deduction and automobile interest deduction that was in place for last year," Steber said. "Those will still be here this year for 2026, but there'll be new boxes on the W-2 and new things to watch out for."
There are also new changes for charitable donations for those doing a standard deduction. It's important to make sure you're only sharing your information with a trusted tax professional.
"When you're dealing with your taxes, that's one of your most valuable assets," Steber said. "It's something that you should take very, very high levels of precaution to make sure you're only dealing with credible, responsible and regulated persons when you're sharing your information."
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