10 Oct 2013

receiptsYou know the feeling: it’s April (or June if you’re self employed) and you’re scrambling. Yep. Taxes are due and you haven’t even begun to sort your receipts.

Well, you of course have January and February all sorted in order in a neat little file folder because you swore at the start of the year it wouldn’t come down to this. Now you’re probably thinking, “Why this reminder now?” We know you have months to postpone your dreaded taxes, but please take some advice from your tax expert and spend an afternoon this fall getting organized. Read more to find out how to get started.

Step 1. Begin the dreaded scavenger hunt for your receipts! Look in the junk drawer, glove box of your car, under your bed, in the dryer, in your night stand and anywhere else you may have left those pesky receipts.

Step 2. Take a deep breath.

Step 3. Sort your receipts by type (gas, auto repairs, medical, tuition, daycare etc.)

Step 4. Make folders or large envelopes for each type of expense and stuff all those receipts in them, label the files or envelopes, (i.e. “2013 Gas Receipts” “2013 Medical Receipts” etc.)

Step 5. Voila! Finished! Reward yourself, grab a drink and relax!

It will only take a few hours of your weekend. There’s a chill in the air and it’s only going to get colder. Take this time indoors to get a head start on your 2013 taxes. You will be immensely grateful in the spring when the sun starts to shine.  Plus, your accountant will love you for it! ;)