Start Next Year’s Taxes Today

Tax

Tax (Photo credit: 401(K) 2013)

Tax day is here! So you’re either cringing and cramming to get your return in on time, looking for a good place to file a tax extension online because you’re not going to have enough time or you’re sitting back, sighing a breath of relief that you’ve already gotten your money from the government. Whichever category you fall into — this post is for you. There is a lot of confusion around taxes.

Most people barely know enough about them to get their taxes done, come tax season. This means that they sometimes leave them too late to get their taxes done on time or they sometimes miss out major information that may cost them money.

This is why people feel the need to get an accountant or tax expert to do their taxes for them as they don’t want to miss anything out. Little do they know that there are plenty of resources available today to help them do their taxes themselves, rather than shelling out on an accountant. You could even study to become an accountant at Liab Collat School of Business since this would do great things for your future career. The scenario is different for businesses who are obviously preoccupied with running their company. A solictors firm would certainly find it useful to use a service that eases their administrative workload by looking after Solicitors Accounts.

Be Prepared

I’ve spoken about Evernote before because I think it’s a great tool for keeping organized and remembering everything you need to in one place. It’s also fabulous for keeping track of your tax information.

I used it this year and it really helped to keep me on track. Next year you should try it too. Starting now though will keep you less stressed when tax time comes around again. Here’s what I did:

1. Make a notebook in Evernote called “Taxes”.

2. Create a note that lists out all the documents that you will need to collect for next year’s taxes. That’s all the 1099 forms for each of your accounts and employers. Put a checkbox next to each so you can check them off as you get the correct paperwork.

3. Throughout the year put notes and receipts in this notebook for tax writeoffs.

4. When you start getting 1099 forms back later in the year — scan them into this folder.

5. Once you get all your information together — do your taxes! Or send off all the forms to your accountant.

That’s it. If you just take the extra step to be a little bit ahead of the game you won’t be scrambling this time again next year. Think of all the time and money you’ll save! Let me know how you keep track of your tax information.

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