As I am sat here today & spent the majority of my day working on my taxes, I decided it will not be this big of a deal next year. I thought I would share with you some of the things I had already been doing, and some of the new things that I will be doing. I want to keep it as simple & easy as possible.
I currently use Quicken for my finances, which is wonderful. Quicken allows you to enter your income/expenses in different categories, as well as having a mileage tracker. Most people are aware of this, so this is really nothing new.
One thing I chose to do last year was to enter my mileage weekly monthly. It took hours to figure out how many business miles I drove in 2006. So the first Monday of the month, I enter the previous months miles into Quicken. So much easier to do it a little at a time.
I also scan all of my receipts into my PC. Once they are in the computer & sorted into the correct categories, the paper receipt goes into the trash & I don't have them piling up in my files.
My goal for 2008 is to be as paperless as possible, so this really helps. I also scan any paper invoices into my computer, and attach them to the check or EFT payment that corresponds to that invoice in Quicken.
One thing that I discovered today is a way to keep track of my charitable deductions online. This is great for items that are donated to charity, Amvets, Goodwill etc. As I fill the bag, I just log the information in my account at
http://www.itsdeductibleonline.com/
And the best part is it is free to use this! And very easy!
So some of these tips may help you, some of you may be aware of these, but I thought I would share.
And you should always contact a tax professional for any questions you would have in regards to your own particular situation.
Here's to you & an easy time preparing your taxes!
For information in regards to purchasing or selling a home, feel free to contact me at www.dawnwhalen.com
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