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The April 15 tax filing deadline is just a few weeks away.

The process of filing your taxes, said Benjamin Akins, associate professor of legal studies and taxation at Georgia Gwinnett College (GGC), starts with organization.

“You should have most of the forms you need to file your taxes by the end of January, though a few may come in February or March,” he said. In addition to the standard W2 or 1099, other forms people receive may be from savings accounts, investment accounts, lottery ticket winnings or casino winnings.

“Keep all of your forms in one, safe place,” he said. “You don’t want to have to search for forms when you’re ready to file.”

Once you have the forms you need, Akins said the first decision is to determine how you’re going to file. Part of this is determining your most advantageous filing status. The Internal Revenue Service (IRS) offers five options depending on your life circumstances: single, married filing jointly, married filing separately, head of household or qualifying, surviving spouse.

“Each status is unique and will affect how much you might owe, credits you can claim and your standard deduction amount,” said Akins.

If you made $84,000 or less last year, said Akins, you can file for free through the IRS’ Free File program.

For all taxpayers, choosing the best way to file really comes down to their comfort level.

“The IRS has fillable forms you can use,” he said. “You can also use tax filing software, or you can hire a certified public accountant (CPA) to manage it for you. It really comes down to what option helps you sleep better at night.”

Another thing to consider is whether you want to take the standard deduction or itemize them.

“Some of the things you can itemize include charitable contributions, home mortgage interest, certain property taxes and certain medical expenses” Akins said. “If these amounts add up to more than your standard deduction, it’s more advantageous to deduct these specific expenses.”

For 2024, the standard deduction is $14,600 for single and married filing separate taxpayers. For a married couple filing together, the standard deduction is $29,200.

“If you decide to itemize your deductions, always, always have receipts to prove contributions or expenses,” said Akins. “That way, if there are any questions later from the IRS, you have the documentation you need.”

Some additional factors to consider when filing your taxes are life changes.

“If you’ve had a change in your family – like getting married or divorced, children living at home or leaving home – these are events that can impact your tax return,” he said. “One great thing about reaching the age of 65 is that the tax code becomes more favorable to you. For instance, your standard deduction meaningfully increases.”

After you file your taxes, Akins said there is one more thing you need to do.

“Remember to save your tax returns and all the related documents for seven years or so,” he said. “This may be overkill since the window for most audits closes after three years, but there are instances where this window stays open longer. Keep them in a safe place so you know where to find them should there ever be any questions.”