Tax Time Again!

Is the idea of filing your 2014 taxes filling you with dread? If so, and even though it’s still January, you may want to start the process. As with de-cluttering, there’s a lot to be said for starting. It’s all about forward “mo” (momentum).

If you have all needed documents gathered together in one spot, all to the good. Congratulations! It will make the task much easier. If not, here are some tips. Suggested previously on this website, they may make your life easier. They’ve worked for me, as I near finishing mine.

It’s easy. Store receipts, etc., in a tax file. I keep one going all year long. It includes letters about charitable contributions and medical receipts. There’s a list about online purchases, so I can pay state sales tax. (Yup, I’m one of the honest ones!) Elsewhere, in the old-fashioned calendar I carry around and in a small notebook kept in the car, I log miles driven for all volunteer activities, including choral rehearsals and performances. I typically drive ~2,000 miles a year. At 14 cents a mile, it’s well worth it.

Admittedly, these suggestions are so low-tech as to be no-tech. They work, though. You might try them. When tax time comes around again, as it surely will, you may be grateful for your tax file!

Tax Time!

Are your 2013 taxes driving you crazy? With the deadline looming, you may be scrambling to file on time or, if you won’t be ready, to request an extension.

I worked with a client yesterday morning before she met with an accountant to file her taxes. We spent most of our time together organizing current and recent bills, and double-checking that she had all needed documents for her meeting. I shared with Sue my ongoing practice about tax readiness.

Suggested as a Timely Tip on this website last fall, perhaps it bears repeating and expanding, to help you stay ahead of the game for this year’s taxes, when filing time rolls around next winter.

It’s easy. Organize papers in a tax file. I keep one going all year long. It includes letters about charitable contributions and receipts from medical appointments. There’s a list about online purchases, so I can pay state sales tax. (Yup, I’m one of the honest ones!) Elsewhere, in the old-fashioned calendar I carry around and in a small notebook kept in the car, I log miles driven for all volunteer activities, including choral rehearsals and performances. Last year’s total was 2,056. At 14 cents a mile, it’s well worth it.

Admittedly, these suggestions are so low-tech as to be no-tech. They work, though. You might try them. When tax time comes around again, as it surely will, you may be grateful for your tax file!

Tax Season?

Now that it’s “twig season,” after foliage and before the snow flies, are you padding around, hands in your pockets, looking for something to do? If so, why not deal with taxes? It’s not tax season! Even so, a bit of time devoted now may save more time, and also perhaps some stress, after the New Year. How? It’s easy. Organize receipts, etc., in a tax file. I keep one going all year long. Among other items, it holds receipts from charitable contributions and medical details. Elsewhere, in the old-fashioned calendar I carry around and in a small notebook left in the car, I log miles driven for volunteer activities, and for choral rehearsals and performances, respectively. All of those miles add up!