Organized Filing System Having a well-organized and thorough filing system makes all the difference.
Using an accounting program like Quicken will help out a lot, but as long as you can keep a small filing box or cabinet for important documents you can avoid having to search for them in April.
Keep Only Important Documents As opposed to saving every single bank statement and receipt, go through them and only keep those that are really prudent.
The less you have to sort through come tax season the better, so only keep essential and tax-related documents.
Write Down Everything Whenever you make a tax-deductible purchase or any other tax-related move, write it down.
This way you will have a quick and easy reference when you need it, saving you time and making sure you don't miss a thing when tax season arrives.
Figure Out Your Income Be prepared to know this number by heart during tax season.
If you have had multiple jobs throughout the year, make sure to keep accurate records of your earning from each.
The easiest way to do this is to make sure and keep all of your pay stubs.
Reduce Bank Accounts Consolidate your bank accounts and credit cards as much as possible.
If you have a separate business card, savings account, or two, that is fine.
However, having three personal checking accounts is more likely to confuse you when it's time to track your financial history.
Keep Records Together Any and every tax-related document should be kept in the same place, or at least in close proximity.
This will assure nothing gets lost or misplaced, giving you peace of mind when anticipating the upcoming tax season.
Sort Your Receipts If you save every single receipt you get, you are going to have A LOT to go through when the time comes.
Instead, only save tax-deductible purchase receipts.
By adding up your receipts monthly or bi-monthly, you can also save time and stress later on.
Get Professional Help When tax season is approaching, check out tax professionals in advance.
Once the season gets rolling, it will be more difficult to get all of your questions answered thoroughly.
An early start will ease tax stress and keep you ahead of the game!
Using an accounting program like Quicken will help out a lot, but as long as you can keep a small filing box or cabinet for important documents you can avoid having to search for them in April.
Keep Only Important Documents As opposed to saving every single bank statement and receipt, go through them and only keep those that are really prudent.
The less you have to sort through come tax season the better, so only keep essential and tax-related documents.
Write Down Everything Whenever you make a tax-deductible purchase or any other tax-related move, write it down.
This way you will have a quick and easy reference when you need it, saving you time and making sure you don't miss a thing when tax season arrives.
Figure Out Your Income Be prepared to know this number by heart during tax season.
If you have had multiple jobs throughout the year, make sure to keep accurate records of your earning from each.
The easiest way to do this is to make sure and keep all of your pay stubs.
Reduce Bank Accounts Consolidate your bank accounts and credit cards as much as possible.
If you have a separate business card, savings account, or two, that is fine.
However, having three personal checking accounts is more likely to confuse you when it's time to track your financial history.
Keep Records Together Any and every tax-related document should be kept in the same place, or at least in close proximity.
This will assure nothing gets lost or misplaced, giving you peace of mind when anticipating the upcoming tax season.
Sort Your Receipts If you save every single receipt you get, you are going to have A LOT to go through when the time comes.
Instead, only save tax-deductible purchase receipts.
By adding up your receipts monthly or bi-monthly, you can also save time and stress later on.
Get Professional Help When tax season is approaching, check out tax professionals in advance.
Once the season gets rolling, it will be more difficult to get all of your questions answered thoroughly.
An early start will ease tax stress and keep you ahead of the game!
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