Whether it means a refund or paying the government, tax time comes around every year at the same time and we all dread it. It always seems like a pain regardless of if you do taxes yourself or have someone else do them. But one thing that seems to be the biggest hassle is getting everything together and knowing when you have it all. I put together some tips on how to make taxes a breeze as much as possible.
Make a List
There I go again telling you to make a list, but it's true! Make a list of the W2s, 1099s, interest statements, and payments to document. As things come in or you put the information together you can check it off your list. And remember you can use the same list each year as a template and add to it if things differ a bit.
Also make a list of the typical expenses you have as categories, especially if you're self employed. As you get the totals and the documentation finalized for all those categories you can check them off. Some categories include supplies, web hosting fees, subscription costs (email newsletter, cloud storage), travel costs, etc.
Start Early
If you do your taxes yourself and you use an online website for it, as soon as it opens up for the year make sure you start putting things in. This allows you to work on it in chunks here and there as things come in or are ready. Sometimes the most daunting thing about taxes is that you have to carve time out to sit down for hours and try to get it done. Doing it a little bit at a time breaks that up so it's not as overwhelming and then the most you'll have to do at the end is review everything.
Track During the Year
If you don't already, get in the habit of tracking every bit of income and expenses as it happens during the year. It's way easier to do this in the moment than it is to wait till the end of the year and try to remember everything. I have a spreadsheet for my blog income and expenses that I update as soon as I receive a payment or have an expense. Doing this has become a habit so I never forget but I still review it at the end of the year against my receipts in case I missed something.
These are just some simply ways I have made doing taxes a breeze for myself so I hope it helps you do the same!
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