1.    You’re only taxed on net capital gains, so any realized losses can help lower your tax bill.
2. If you know you’re going to have realized gains, look for opportunities to realize losses and offset them. 
3. For example, if you have shares of stocks that have lost value since you purchased them, you may consider selling them.

1.    Ensure all your records are together. 
   Things happen throughout the year. We get it! You may work multiple jobs, get married, or have a child. What about changing health insurance, buying a house, starting a side hustle, etc…Oftentimes these lifestyle events can mean additional paperwork and tax documents. Take the time to evaluate your previous year. Determine which tax forms you should be expecting and from whom. These can include W2s, 1099, Bank Statements, etc. The worse feeling is having your taxes completed and filed and getting that additional W2 in the mail. The next step is either auditing your tax return or waiting anxiously for the IRS to point out your mistake. Often in the form of fines.
2.    Know which tax forms you need.
   Are you planning to itemize deductions? Were you self-employed a portion of the year? Were you enrolled at least half-time in an accredited higher learning institution? Depending on your individual situation, a number of tax forms may be needed to adequately reflect your tax deductions and liabilities. Always consider and take advantage of all the tax credits you are eligible for.
3.    Don’t rush the process.
   Take your time. Filing your tax return should never be something you complete in a rush. It can result in an expensive and time-consuming mistake. If you feel you don’t have the patience needed to thoroughly complete your return, it is often best to turn to a trusted advisor. Ask friends or colleagues for a good referral. This is almost always one of the best ways to find a great specialist in any area!
4.    Review your tax return for errors. 
   The most common errors found on tax returns are social security numbers and math errors. Check these things first. Also be sure to always document your name as it appears on your social security card. All electronically filed returns are matched against the social security administration to validate identity. Taking care of these details prior to sending your return off reduces your chances of hearing bad news from the IRS down the line.
5.    Get the fastest refund.
   Of course, when you file early, you get your refund faster. If you e-file your return and elect for direct deposit, you can expect your refund in about half the time as you would paper filing. Now that’s fast!

Certain rules must apply for this to occur:

• To claim the exclusion you must meet the ownership and use test. You must have owned the home for at least two years and lived in the home as your main home for at least two years.

• Those who sell their main home and have a gain from the sale may usually be able to exclude up to $250,000 from their income or $500,000 on a joint return. Homeowners who can exclude all of the gains do not need to report the sale on their tax return.

• You experience a loss when your main home sells for less than what you paid for it. This loss is not deductible.

• Those who cannot exclude the gain from their income must report the sale of their home on a tax return. Those who choose not to claim the exclusion must report the gain on a tax return. Those who receive a Form 1099-S, Proceeds from Real Estate Transactions, as part of the real estate transaction must also report the sale on their tax return.

• Some must report forgiven or canceled debt as income on their tax return. This generally includes people who went through a mortgage workout, foreclosure, or other processes in which a lender forgave or canceled mortgage debt on their home. Those who had a written agreement for the forgiveness of the debt in place before January 1, 2017, might be able to exclude the forgiven amount from income.

• In one version of the scam, criminals posing as debt collection agency officials acting on behalf of the IRS contacted the taxpayers to say a refund was deposited in error, and they asked the taxpayers to forward the money to their collection agency.
• In another version, the taxpayer who received the erroneous refund gets an automated call with a recorded voice saying he is from the IRS and threatens the taxpayer with criminal fraud charges, an arrest warrant and a “blacklisting” of their Social Security Number. The recorded voice gives the taxpayer a case number and a telephone number to call to return the refund.

Taxpayers with qualifying children that meet the income thresholds will see an increase in the amount of child tax credit they normally get.

Taxpayers with NO qualifying children may now qualify for the “Other dependents” credit. Think about the aging parent you weren’t previously able to get a credit for. Under the new TCJA you will receive an additional $500 credit for these dependents.

-You attempt to process your tax return electronically and it is rejected by the IRS

-You have not filed tax returns but receive taxpayer authentication letters from the IRS

-You have not filed a tax return but received a tax refund

-You receive an IRS notice that an online account was created in your name

-You receive tax transcripts in the mail without requesting it

• To establish the extent of the damage, taxpayers should take photographs or videos of affected property as soon as possible after the disaster.
• Taxpayers can look on their mobile phone for pictures that show the property before the disaster damaged it.
• If a taxpayer doesn’t have photographs or videos of their property, a simple method to help them remember what items they lost is to sketch pictures of each room that was affected.
• Taxpayers can support the valuation of property with photographs, videos, canceled checks, receipts, or other evidence.
• If they bought items using a credit card or debit card, they should gather past statements from their credit card company or bank. If the taxpayer didn’t keep these records or they were destroyed, statements may be available online or they can contact their financial institution.