How to Prepare for Tax Season 2024

Tax season is coming—are you ready? Whether you’re dreading it, putting it off, or just plain confused, you’re not alone. But what if, this year, you could tackle your taxes with confidence and maybe even save some money along the way? In this episode, Paul Allen and I are diving into things you need to know to prepare for tax season 2024. We cover people's most common questions about taxes and tips for preparing for filing. Plus, I revisit my favorite tax question, which I would like to ask Paul. Can I deduct my hair and makeup expenses?  Paul retired from the US Navy in 2010. Is now a Founding Member of PIM Tax Services, APFORIA, the Military Financial Advisors Association, and the Military Qualified Financial Planner Certification Program. Paul holds an MA in Financial Planning and Law, is an enrolled agent of the IRS, and holds the CFP® and MQFP® certifications. https://milmo.co/podcast/prepare-for-tax-season-2024 01:06 Preparing for Tax Season 2024 03:59 Understanding Business Expenses 12:53 Tax Deductions and Record-Keeping 18:13 Handling Tax Mistakes and Changes 20:49 Maximizing the Clean Vehicle Credit 21:44 Understanding the 1099-K Form Changes 23:40 End-of-Year Tax Planning Tips 24:36 Military Spouse Taxation Issues 27:20 Preparing for Tax Season 28:01 Quickfire Questions and Recommendations 31:10 Fun Fact or Fiction Game 34:50 Conclusion and Resources