If tax time is a depressing time of year for you, you may be tempted to put off your tax preparation until the last minute. However, if you begin getting ready for the new tax year now, you'll find that your preparation will be much easier closer to the deadline. Early tax preparation is even more important if you're expecting to pay a large amount of taxes, since you may be able to take steps now that can reduce your tax liability next April.

1. Get an early start by organizing your documents.

One of the biggest obstacles to filing tax forms is finding all of the necessary documents you'll need to complete your paperwork. Most taxpayers will need their wage statements such as Form W-2 and/or Form 1099, as well as any documentation that supports their self-employment income and expenses. Other tax documents include Social Security numbers for the taxpayer, spouse and any dependents in the home.

Another reason to start looking for your tax documents now is that it will give you time if you need to get a replacement form or if you need to find a missing document. If you work for an employer, approach him or her and ask for another copy of your wage statements if necessary.

If you're unsure which documents you'll need, take a look at your tax return from the previous year and then write up a checklist of the forms that you needed for that return. Start by looking for this year's edition of those documents and then add on the other forms you may need.

2. Find ways to reduce your tax liability now.

Getting an early start on your tax preparation will also give you the opportunity to start taking steps to lower your tax bill. Even when there are only a couple of months left in the year, you'll still have time to make some contributions that can reduce your liability. For example, you can make the maximum contribution to your IRA plan, which could reduce your taxable income by a few thousand dollars. You might also decide to make monetary contributions to a qualified charity, which you can write off as an itemized deduction.

Taking the time to start preparing for your 2012 tax return now will save your time later in the tax season. Depending on the steps you take, early preparation may also save you a good amount of money.