Taxes may or may not be a complicated process for you… however it is still a process. The key to submitting taxes is being prepared and being prepared is not staying up late at night pulling your paperwork together in a hurried panic.
How do you feel when you prepare for your taxes? Panic? Hurried?
Now that the tax deadline is over, it’s time to reevaluate your process. It’s time! It does not have to be an ordeal EVERY year.
I want to share some things I do to help the tax process be smooth sailing each year for me. It is my hope that you can snag an idea and apply it to your tax process.
Find your system so that your tax process can be less frustrating and time-consuming.
Collect your items so that you have everything at your fingertips.
Set deadlines for your spouse i.e., you need XYZ by a certain date. Make sure this date is at least 30 days before you are gathering your paperwork. Plug those dates in!
Set a specific time to collect your paperwork. Make sure that paperwork is uninterrupted time. I like to make a cup of tea, put on some classical music and begin the process of gathering.
Organization is a year round effort.
I meet with my tax preparer and ask what categories can I write off. I keep updated each year in case anything changes. I take those categories and make a file for each. Each day I put the receipts in each specific file folder category. I write the name of the person I was with, file it and I continue to to that each day until the following year.
I use this divider folder I repurposed from another project and use for receipts.
Keeping your documents organized will reduce the errors and you will save time in completing them.
Keep everything in one place. I use this banker box and call it my TAX BOX. I keep hanging folders, envelopes and file folders among other things in this box.
I keep my business in separate folders, but it still remains in the box. I try to keep the paperwork under control and I like to use software like Mint.com (for my business Quicken works good for me). Both are easy to send to my tax preparer and with my tax box I have everything at my finger tips.
Are you feeling like you need extra support? Let’s work together! Connect with me and we can find a system that works for you and together we can make a new change. It doesn’t have to be complicated… it just has to work for you!