Guess what came in the mail this weekend? The tax organizer!! Yup, its that time of the year again. Its time to tackle those taxes. Most people dread this time of year. I simply view it as another project that needs to be done. I print out my tax ledger from Quickbooks and fill in the blanks. In a matter of minutes, I am done. Then, I put it aside until the misc forms come in the mail. Yeah me.
But that is not the case for everyone. It can be a time of panic and frustration. A time where hours are spent rounding up those receipts. Don’t let this be your story. Here are some tips on how to tackle your taxes in a timely manner.
- Find a good accountant. A good accountant is worth their weight in gold. You need an educator. Someone that will help get you on the right path.
- Educate yourself on what you can write off each year.
- Save those pertinent receipts. Either set up a file for them or scan them into a folder on your computer. I use an accordion file to house my yearly receipts.
- If you are a business owner, you need an accounting system. There is no way around this. Yes, the software is pricey but it will save you hours and hours of time. You can even link it to your bank account or credit card to the system and it will categorize your expenses.
- Starting at the end of January, be on the look out in your mail for those incoming tax papers.
Its not that bad. By educating yourself, and keeping track of your tax papers, you can tackle those taxes. Don’t put it off. When its done, you will feel amazing!!!
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