LIFE 1010
  • Home
    • About Us
    • Store
  • Blog
  • PrePare
  • SpendWize
    • Businesses
    • Healthiest You
  • LifeZen
  • ReTire
  • Contact Us

7 Simple Tax Organization tips for year round~ Kelli Roethel

12/10/2013

0 Comments

 
Picture
1- Break down a big Job into manageable pieces

If you get Antsy about the small stuff you have to do around Tax time that takes time, remind yourself that small bite sized jobs take minutes to do. Tax time all in one hit can take days. Ask yourself if you'd prefer to spend fifteen minutes doing something now or fifteen days sorting the whole lot out next tax time? Getting into the habit of doing things this way may take some time to develop, but should be worth it in the end.

2- know the information you need.

Your information that you need can be a number of things: pay slips, receipts, previous tax advise or information. Basically it could be anything you will need to sort your taxes out when the time comes. You should know what you need unless this is your first year filing taxes.

3- Have a monthly Plan.

Make sure that you plan for each month. set out the things that you will need for taxes each month. You can forget about it and move on with other things in your life. Example. Make a habit of printing off bank statement every month. Make sure that you keep them in the same place each month.

4- File away and Categorize.

You can use a filing paper system as well as an electronic system that way things won't get lost you have backup if needed. Make sure that you get in the habit of filing things away as soon as you receive them. You will keep things in a system it is easier when tax time comes.

5- Use reputable financial software and tools.

Check out certain software and tools to see if they can help you get better organized.

6- Hang on to those records.

Create a financial system if need be or use an existing one that works. If you have your own business and you need to keep more in depth records, make sure you're up to date. Set aside maybe half an hour a day to organize your finances so you have all the records you need.

7- Hire an accountant or bookkeeper if necessary.

If you find yourself struggling with a lot of documents and paperwork, and you're finding it hard to keep up with things on your own, then maybe it's time to outsource some of the work to a professional who can help you.


0 Comments



Leave a Reply.

    RSS Feed

    Categories

    All
    Guest Bloggers
    Health Insurance
    Healthwellness7819270f0b
    Holidays
    Insurance
    Iul
    LIFE 1010
    Life Insurance
    Life Moments
    Life Moments
    LifeZen
    Money Saving Tips
    Pictures
    PreNeed
    PrePare
    Product Review
    Recipes
    ReTire
    Sale
    SpendWize

All of the material published on our website and other digital/wireless platforms is protected by copyright law.   It is understood that you any information shared on LIFE 1010 does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser, tax or legal professional.   All rights reserved.  All posts are © 2011, LIFE 1010.
Media/Advertise with us
© 2011, LIFE 1010