Monday, January 3, 2011

Money Money - Tax Time

When it comes to filing your taxes, are you one of those people who utilizes the late hours of the postal service on April 15?

Surprise, I'm not. I'm sure you knew that.

I want to get the taxes out of my hair ASAP!

During the year, I keep a folder called "taxes 201_" in our file cabinet. Anytime something comes in that I'll need for my taxes, I put it in that folder.

I also have documents on my computer where I log my unreimbursed business and medical expenses - receipts are filed in the drawer (because sometimes we can claim them - like this year!)

When it comes time to do our taxes, everything is organized and ready to go so we can get our refund ASAP. I create a binder with tabs holding all the documents I need for easy preparation for my tax preparer. We rarely have to wait longer than a week for it since we file so early.

So, get organized. Stop scrambling at the last minute. It actually COSTS you MORE money to have your taxes done when you're disorganized. I know people who have paid HUNDREDS of dollars more because they threw a shoebox full of receipts at the accountant. The following year, they had all their ducks in a row and paid much much less.

So today, save yourself some money by becoming organized so that you can use your refund to get your DEBT SNOWBALL started!

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