A friend of mine today shared a good tip on how she likes to display her brooches. She pins them on a long ribbon and hangs them as wall art. That way she can see her collection and find the right one for here outfit. It’s also a cleaver way of displaying a bit about who you are.
If you haven’t done this yet, then its time to gather all of the tax information that is relevant for your tax purposes.
First, don’t forget to ask what your accountant expects from you. Ask them how they prefer to see your information. And do the best you can. They will be so thankful that you did this and it will save you lots of time and money in the long run.
Here is a step by step instruction to help you get organized before you meet with your accountant.
1. Create a 2009 file pocket folder and separate income (W2 forms) from expenses.
2. Sort expense receipts by month
3. Identify your expense categories (Auto, insurance, medical, utilities etc…)
4. If you don’t use some kind of software then enter your data onto an excel sheet or onto an accounting data sheet.
Sometimes your bank statements will be all you need, and the receipts you keep are used for supporting documentation.
Only keep the records you need in your newly organized system, the rest is just clutter.
By gathering as much of your expense information that you have, you can make the difference of a better tax return. Remember, also, your donations made to charities are sometimes tax deductible.
Good luck and I wish you a successful 2010!