Keep calm and do your taxes |

(image courtesy of KeepCalmStudio.com)

Tax season is quickly approaching and so is that inevitable sense of dread we always feel at this time of year. But by being organized and doing a bit of research ahead of time you can make the filing process a breeze. Here are a few steps you can'take that will keep you calm:

1. As your T4 and other slips start arriving in the mail place them in a separate folder or envelope.

2. Gather your receipts big or small and add them to the same folder. Think about any charitable contributions you made this past year, business expenses you may have incurred, art and fitness programs your children may have attended. These can add up to big savings.

3. There is nothing worse than having to redo your income tax form. You can avoid this by identifying all your income sources, such as employers, banks, mutual funds, etc. This way you won't have a stray form arrive right after you've entered all your information.

4. Consider making an RRSP contribution for 2014. The deadline for making contributions is March 2, 2015. To calculate if you still have contribution room left, check out the Canada Revenue Agency (CRA).

5. Figure out how you are going to do your taxes. If you are planning on filing your return online for the first time this year the CRA provides step-by-step information on how to do so and has a list of free software you can use to file your returns.

6. Did you get married or divorced this past year? Did you have a child? These kinds of changes will affect your taxes. Do some research and be prepared ahead of time.

7. Do you need help preparing your income tax return? Check out the free Income Tax Clinics being held at various branches of the Toronto Public Library.

To help you prepare for tax season, take a look at these books: