Don’t wait: Why it’s more important than ever to get ahead on your taxes

The weather outside is frightful, but the fire is so delightful. And since you’ve no place to go, do your taxes, do your taxes, do your taxes.

Winter finally reached the Windy City in earnest this month. According to the Chicago Tribune, this February is “among the 20 snowiest Februaries since 1885”. But as suddenly as it came, the snow transformed into storms and miniature sidewalk rivers. In other words, it's just another unpredictable winter in Chicago.

So while you’re cooped up inside waiting for spring, why not take the opportunity to do your taxes?

Last year witnessed a blizzard of tax changes under the Trump presidency. The Republican Tax Bill that passed in December 2017 will affect individuals and businesses disproportionately depending on industry and geography, as reported by The New York Times. For more details about how the 2018 tax brackets, standard deductions, and more under the tax reform, read over this Forbes breakdown here.

Most of the changes will take effect over the year and will be felt most when filing taxes in 2019. However, it is important to be aware of the changes now so that taxpayers can be in a better position for next year. There are also a few changes that affect taxes retroactively so taxpayers will have to do a few things differently when filing for 2017.

The changes mean that this year, it's more important than ever to file early. If you’re an individual or a business who working remotely at a coworking space or at home, and you’re planning to use a CPA (certified public accountant) or another tax preparers, it will also be important to find a space to work on taxes.

At Free Range Office, you can rent a meeting space by the hour starting at $35 an hour. If you already have a virtual office with Free Range, you already have two hours of conference room time a month you can use. If you have a Club coworking membership, you also have complimentary conference room usage. If you don’t have a membership with Free Range, you can still book a meeting space.

So don't fret! Spring will come and when it does, you'll be practically carefree because you're taxes will be long taken care of.