Ready for Tax Day?
It’s that time again! Yes, April 15th. Tax Day. This is typically NOT a fun process for most people. But, it does not have to be so incredibly painful. There are steps you can take that will minimize the great paper shuffle at the beginning of each year. Here are a few suggestions:
- keep a file folder labeled “Taxes 20____” on top of your desk or in your home “command center”
- throughout the year, every paper that may have to do with your taxes (property tax, medical receipts, bank papers…) drop in there
- every few months, flip through the file and get the papers in a little better order by grouping them (tax payments, medical bills, W-2s, donations…)
- for the more adventurous, try using a simple Excel spreadsheet or use your calendar to track your mileage for non-reimbursed expenses, volunteer travel, medical travel out of the area…)
These are not overwhelming tasks, but they can make a huge difference come the new year. This can help you and your tax preparer and lessen the stress with this fateful annual date we all have.
Let me know your ideas. What works for you? Do you have a simple tool or task that makes tax season easier for you? Please share so everyone can benefit!