Does the date April 15 stress you out? Does locating the paperwork needed to prepare your taxes seem like you’ve gone on an Easter Egg Hunt? Do you put off preparing your taxes because you just don’t want to deal with all the papers?
Which person are you?
1. I have a system set up and can easily locate all the papers and documents I need to prepare my taxes on time.
2. I have a few places where I need to look for my receipts and documents.
3. I know I should have a better system in place so that I don’t stress out at tax time.
4. System…who needs a system?
This time of year is a great time to set up a system so that next April 15 doesn’t cause you angst:
• Organize your papers now. Your strategy is the key to managing your finances and taxes. Develop a system that you will actually use whether it is low-tech paper files or a software program.
• Don’t wait until April 14 to start your return. Schedule time in your calendar for gathering papers, preparing the forms and submitting your taxes.
• Take advantage of free tax assistance such as the downloadable IRS publications (irs.gov) or their toll-free TeleTax line (800-829-4477).
With a little advance planning you can take the stress out of tax preparation. Check out tips on organizing your files, handling paper piles and bill paying in upcoming posts.