As you know I believe every day is a good day, so why would tax day be any different.
Getting ready for tax day can be a pit of a challenge, particularly if you haven’t kept up with things during the year, but many years ago I started using software that helps. It is called Quicken and by the way I don’t get cent for mentioning them.
I am sure there a lot of others. Maybe your bank offers a FREE service of electronic checking that might be able to do the same thing. Now here are some tips that can help you. Make sure you use the right category for all the things you write check for. Let’s say you write a check for your doctor, then a check for the hospital. Make sure you put them in the same category. In the accounting world they call this chart of accounts, of which medical might be one of them.
The reason you want to do this is at the end of the year you can run a report on all the medical expenses for your tax year. Bingo you now have a report of all your medical expenses that you paid for by check.
Why am I going over all of this, will be because if you just did this one thing putting things in categories, a big part of your tax perpetration is already done.
Second thing to do is keep a file on all your tax information. Example: the final statement from your mortgage company. Most of the time it will not only have the interest you paid for the year, but the taxes you paid on your home.
If you don’t itemize your taxes then you can forget about what I just told you, but those that do I hope it was of some help.
What I just told you works better than I even thought.
Two days ago I got a call from my accounts administrative assistant. See didn’t ask but said “be here tomorrow at 5:00 PM to go over your taxes for last year. I was shocked and said “I am not ready and I have a board meeting at 5:00AM tomorrow.” Without giving me time to think she said “OK how about 11:00AM tomorrow.” I said OK, but I told her I didn’t have everything. She said bring what you have. And that was that.
Will you can just imagine what I started to do. Yes, I turned on my computer and went to work. It took me about two hours, but I think at least I had enough to get my account started.
At 11:00 AM I walked into the reception area and asked for my accountant. It didn’t take long and she opened the reception door with a big smile and said “Follow me”.
We sat down and she started to ask me question. Then she asked if I had any documentation. And I did. Will thing moved a long quickly and in a half hour she told me that my taxes are completed and they will be ready within a week.
I almost feel over with relief and joy. You know if I were a drinking man I would have had drink, but instead I went around all day with the biggest smile on my face.
I didn’t know it but I was ready for tax day and this proves again every day is a good day.
Happiness with wealth to you
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David is an author, speaker, consultant and coach, he is a community leader, educator and has worked with fortune 500 hundred companies as well as individuals. He also has been a CEO of a national manufacturing company and cares deeply about people
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