Posts Tagged "taxes"

Six Ways to Organize Your Family’s Time & Space

Posted by on Apr 3, 2012 in Easy Organizing, Featured, Mom Moments, MomSources™, Organizing Products, Problem-Solved!, Sanity Savers, What You Need & Where to Put It | 0 comments

Six Ways to Organize Your Family’s Time & Space

 

Recently, I introduced a 6-part series from Smead Organomics to help busy families take hold of their time and space and get organized for a successful 2012. Here are the links–all in one place–to the six posts. Thank you to Smead Organomics for providing the information and the wonderful products to go with these solutions.

1. Easy Organizing for a Successful 2012

2. Tax Advice: Making Tax Time Easier

3. Time Management Tips: Eliminate Time Wasters

4. How to Effectively Handle Paperwork

5. Scheduling & Time Management@Home

6.  Household Management: Creating the Command Center

 

Office Depot, Inc

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Tax Advice: Making Tax Time Easier

Posted by on Feb 29, 2012 in Easy Organizing, Featured, Organizing Products, Problem-Solved!, What You Need & Where to Put It | 0 comments

Tax Advice: Making Tax Time Easier

This post is the second in a series of six. First post = Easy Office Organizing for a Successful 2012

scroll to the bottom of the article for the link to get the complete checklist.

 

Each year, shortly after the New Year has arrived, people start bemoaning the fact that “tax time is going to be here before you know it.” Most admit it wouldn’t be such a dreaded task if they had kept track of things like receipts and other documents throughout the year.

When you create a home for future reference items, you prevent that panicked feeling each spring as you try to remember the financial details of the year.

Our first piece of tax advice is to create a system to sort Income, Expenses and Taxes. Throughout the year you will come across paper documents supporting important information for your tax returns. Sort this information into three categories, using separate hanging files or binders. If you like uniformity, stick with one color for your files or binders. If you are more visual, you might prefer a separate color for each category:

  1. Income: Here is where you’ll keep payroll stubs, 1099’s, Dividend Distribution statements, Profit & Loss (P&L) statements and annual statements from your financial institutions.
  2. Expenses: Receipts of deductible items such as donations, loan interest statements, school/tuition expenses, business expenses such as mileage or uniforms. For real estate transactions, you’ll need the closing statement and any home improvement receipts in case those are deductible.
  3. Taxes: If you pay any kind of taxes throughout the year (for example, quarterly or estimated) keep these receipts in your taxes file or binder.

Valuable Tax Advice on Receipts

If you purchase items that you’ll need proof of when tax time comes, you’ll want to be sure to hang on to the receipt. Sometimes it may not be convenient to file the receipt immediately.

  • Keep an expandable wallet in your vehicle or kitchen. These are two locations where receipts are often found “floating”. Once a month, transfer the receipts into your Expense File or Binder.
  • If possible, make a note on each receipt what was purchased and circle/highlight the date. When you’re in the middle of preparing your taxes, you’ll appreciate this attention to detail.

Hopefully you will take this fundamental tax advice and put it to good use. You now have a place to put your tax information and it will be easy to access and use come the start of the New Year. In fact, this tax advice may help you be so organized that you’ll do your taxes early next year.

For a fabulous checklist from Smead Organomics, click here!

Here are links to all six posts in this series of six:

1. Easy Organizing for a Successful 2012

2. Tax Advice: Making Tax Time Easier

3. Time Management Tips: Eliminate Time Wasters

4. How to Effectively Handle Paperwork

5. Scheduling & Time Management at Home

6. Creating the Command Center

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I Hate Organizing: I Know How You Feel!

Posted by on Sep 16, 2008 in Mom Moments | 0 comments

I’m sitting at Starbucks enjoying my favorite drink, a caramel machiatto. This is great…it’s my REWARD because earlier I was at my bookkeeper’s office and that was not fun for me! I made an appointment with her so that I’d have to show up, with paperwork in hand, and go through it. We did that, then make a list of what I still needed to to give her, so I can go home and follow instructions and get it done.

Accounting to me is like organizing is for many. Just the thought of it makes me anxious and irritable. It’s the last thing on earth I want to be doing. I’d even eat anchovies as opposed to going through bank statements and using a calculator!

As I walked into her office, my shoulders were feeling tense and my chest a little tight. I reminded myself that I only had to stay for an hour and a half and that once I was through, I could go get my reward.

So, as I sat with my bookkeeper, I began uttering words like, “This really stinks, but I’m doing it,” and “gosh, I understand how my clients must feel as they push through an organizing session.”

I do understand! What’s easy for some, it horribly painful for others! Hence the reason we in the service business have a business. It’s the support factor that can help you achieve results and your goals.

So when you feel like you can’t or don’t want to do it and you dig your heels in like a 4-year-old, then throw a tantrum (okay, so I’m exaggerating a bit, but sometimes it feels like that), just remember, there is support out there for all sorts of tasks, including organizing!

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Tax Time Help is Here

Posted by on Feb 20, 2008 in Easy Organizing, What You Need & Where to Put It | 0 comments

Tax Time Help is Here

Most of us dread tax time. The W-2s arrive and we have a box full of receipts that need organizing in order to capitalize on any deductions. Here’s a product that can help you get your tax information together easily: Buttoned Up Tax Filer. View the video of this product to see how it can help you get your papers together. The product comes with a CD so you can also file your taxes online, which can help you receive your return sooner!

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