Have you done your taxes yet?

April 15 will be hear before you know it. It’s going to be March in a couple of days. To tell you the truth, I haven’t done mine yet either. I’ve gotten all my W-2s and 1099 so I should be ready to go. But of course since I am procrastinator number one, there are still some things I haven’t done yet.

I haven’t sorted my receipts. I have a filing cabinet where I have folders for each tax related items like medical expenses, mortgage expenses, insurance, investments, etc. When I get a statement or receipt during the year, I usually just stick them in the file and forget it. So now I have to go through each file, sort out receipts and statements and add them up. Figure out if I have enough deductions to warrant itemizing or if I should just take the standard deduction and file the short form.

My finances are not too complicated. I don’t have that much :) But if you have a more complicated financial situation, it is probably prudent to have an accountant help you out. They may be able to find deductions that you didn’t even think of, which means more cash in your pocket. Hopefully.

Posted in Finance

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