Getting Prepped for Tax Season

It always seems to come around quicker than we expect each year and each year we say we are going to get organized. If you aren’t one of those that is already organized and ready for tax time here are a few family tips.

Make a List
Make a list of all of the documents that you will need to prepare for your taxes so you can check them off.

Create a Folder
Create a folder for storing all of your documents in one place so as you have them they do not get misplaced.

Go Digital
You are supposed to keep paper copies of many documents however if you invest in a scanner all of those documents you collect during the year are easier to find and keep organized longer term if they are digital. Use free and paid plans from companies like ShoeBoxed to easily take photos of your receipts and keep them organized or for paid plans mail them in and they will scan for you.

Calendar It
Pick a time and put it on the calendar to review bills and documents you will need each month so when tax time rolls around you are organized. While adding that to your calendar consider adding “check your credit reports” as a minimum yearly task if not more to add when reviewing finances.

Consider Hiring a Professional
The cost of a professional to review your taxes can be helpful for many families. The cost they find in deductions and the piece of mind is usually worth the cost.

And as always if you have any household employees stay on top of taxes with an easy cost-effective solution…NannyPay!