Organizing Tips for a Successful Tax Season!
05 Feb 2018
Organizing Tips for a Successful Tax Season!
The 2018 tax season officially began on January 29th, but with the delayed start this year you’ll have only 79 days to file your tax return. Here are some helpful tips to ease into this tedious and sometimes stressful process of preparing your taxes!
- Providing your information to your accountant in an organized manner can save you money in tax preparation costs. It will also prevent you from submitting your taxes late in the tax season which is when your accountant will likely be in crunch mode. Be kind to your accountant and he/she will be kind to you!
- You are less likely to miss deductions when you have receipts for all your expenses in labeled folders.
- Creating a system for organizing all your paperwork that you can easily maintain can really help to ease the pain during tax season. It will also teach you to be better organized throughout the year as you collect receipts and documents for tax purposes. Be careful not to miss important documents when you sort through your mail. Keep a current tax year file (2018) for collecting relevant information for next season as you get them.
- Separating your personal and business expenses makes it easier when preparing taxes. Talk to your accountant about any receipts or items that may apply to both so he/she can guide you on what to do.
