Yes, it's everyone's favorite time. Not ! Too much paperwork. Too much pressure.
So how can we make it easier? Well, by having had an organized plan throughout the year for starters.
Most people never think about taxes and tax time until right before the tax deadline. And that's when they get stressed out.
By thinking about your taxes throughout the year and having a place for anything that might be tax related, your actual "tax preparation time" .... the time it takes you to get all of your documents, supporting documents and anything else that you take to your accountant...ready.... you will have a much easier and less stressed time.
That said, start by just having a file for anything tax related. Put anything that comes in over the year into that file. Anything related to your home, your business (in a separate file), your savings....should all go into a file for your taxes. That way you are not searching for it at year end.
Make a checklist of all of your saving & financial accounts and all of the documents that you need for your taxes. By doing this, when you are getting ready to take your paperwork to your accountant, you won't forget anything and won't constantly have to "think" about what you might be missing. This will save you time and stress each year.
For most people doing their taxes is not fun. By having a system in place throughout the year you will spend less time at the beginning of the year hunting for those needed documents.
Happy Tax Preparation !
Organizational Consulting Services
No comments:
Post a Comment