Easing Tax Time Stress
The last time I wrote about organizing tax paperwork was in my February 2012 newsletter.
I may shy away from the topic of financial organization, because I am not a CPA or tax attorney. It may also be that money is often an emotional topic, closely tied to our personal values. Many of us would prefer to avoid our finances.
However, for those of us in The United States, this year we need to file our taxes or file an extension by April 18, 2016. In addition, having our financial house in order is important. These tips will help you be organized with your taxes and your money.
- Create Structure---We all need structure. Have one place for all of your tax related paperwork. I use simple hanging file folders labeled with the year (i.e. "2016 Tax Returns"). It could be a labeled box, or if you scan everything, an electronic file.
- Utilize Technology---We have come a long way from paper ledgers, which by the way, are way better than not tracking your finances at all. There are so many options from the low tech (Excel spreadsheet) to Intuit's accounting software choices (Mint, Quicken, QuickBooks and Turbo Tax) to investment focused products such as Personal Capital. Find out what fits your situation the best.
- Get Help---It's okay to ask for help! Help can come from family members, friends or professionals. Since 2005, I have been helping my mother and many clients get their tax papers in order prior to meeting with a CPA. If we file our taxes ourselves or have the help of a CPA, coming to the table organized will save us time and money.
As yourself: "How do I want to feel when it comes to filing my taxes and organizing my finances?" Then take appropriate action toward feeling that way.
Are you an ambitious mom who feels overwhelmed by all you have to do? I would love to work with you! Fill out the Productive Environment Scorecard on-line and Carolyn will contact you to schedule your complementary 30 minute Discovery Session via telephone.
