Redstone Federal Credit Union

It's no secret that tax time can be taxing on one's stress levels. Fortunately, proactive planning for the April 15 deadline can help improve your experience and mitigate your to-do list as Tax Day approaches. 1. Select an experienced tax preparer. Unless you're planning to file your own taxes, you'll need to find a reputable tax professional to prepare your taxes for you. Check with friends and family members for recommendations, and make sure the preparer has a PTIN (Preparer Tax Identification Number). If your tax situation is complex, take some time to research the credentials, qualifications and educational background of the various preparers you're considering. Lastly, ask about each preparer's fees, so you can compare and know what to expect. 2. Collect needed information and documentation. Your preparer will need a variety of documents and personal details in order to file your taxes. Write down your Social Security number and those of any dependents. You'll also need to provide applicable documentation, which may include: • Form W-2 from your employer • Forms 1099-INT, -DIV, -B, etc., for interest and investment earnings • Form 1098, which lists the interest paid on your mortgage As these forms come in, place them together in a folder so that everything you need is available in one location. You should also add to this folder any receipts you saved throughout the year (such as those for charitable donations) that you'll need for your tax filing. 3. Open and/or contribute to your IRA through Redstone Brokerage Services. Don't forget that the tax deadline of April 15, 2020, also marks the last day you can make a 2019 contribution to your IR A. e 2019 annual contribution limit for IR As is $6,000 (or $7,000 if you're age 50 or older). Be sure to take advantage of this opportunity to maximize your annual contribution so you can be financially prepared for the future. Caroline Gabig with Redstone Brokerage Services recommends talking with your financial advisor well ahead of tax time. Your advisor can help you understand how taxes will impact your finances and identify ways to mitigate the impact. Redstone members have access to a staff of experienced financial advisors who can help answer investment questions. Redstone Brokerage Services and LPL Financial Advisors are not accountants and do not offer tax advice. Call Redstone Brokerage Services today at 256-722-8351 to schedule your complimentary consultation. 10 | r e d f c u.o r g Securities offered through LPL Financial, member FINR A/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Redstone Federal Credit Union ® deposits and are not NCUA insured. These products are not obligations of the Redstone Federal Credit Union and are not endorsed, recommended, or guaranteed by Redstone Federal Credit Union or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible. The investment products are being offered by an employee of Redstone Federal Credit Union who is also a registered representative of and sells products on behalf of LPL Financial. Redstone Federal Credit Union and Redstone Brokerage Services are not registered broker/dealers. LPL is a separate entit y from and not affiliated with Redstone Federal Credit Union or Redstone Brokerage Services. RFCU does not warrant, guarantee, or insure any product or service offered by LPL or Redstone Brokerage Services. Redstone Brokerage Services and RFCU do not provide tax advice. Please consult your tax advisor for your specific questions. R E D S T O N E B R O K E R A G E S E RV I C E S Turn Tax Day Into RELAX DAY by Preparing Now Caroline Gabig

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