Tax time can be hella stressful.

Especially if you have a ton of receipts and documents to compile and get ready for the tax man (or woman).

So why not start sooner than later?

Why don’t we all start gathering everything and preparing well before we need to?

Some don’t prepare simply because that’s how they have always done things.

They have always waited until the last minute to get things together.

Don’t let this be you.

Here are a few ways to start getting ready today.

One low tech and one high tech solution.

Preparing to Tax Time


Low Tech Tax Prep

Part 1:  Grab a manila folder or one of those big yellowish envelopes.

Label it – “Tax Stuff 2016”…

Put it wherever you go through your mail.

This could be by the front door, on the living room table, on the kitchen table – wherever you drop the mail & go through it.

Part 2:  Create a checklist of everything that you receive every year.

You’ll be looking for things like mortgage statements, real estate tax statements, interest statements, W2’s, 1099’s, K1s.  Things like that.

Whenever you get something tax-related, check it off the list and put it in the folder or envelope.

High Tech Tax Prep

Same principle as the low-tech solution.

Part 1:  Create a folder on your laptop or within your Dropbox account.  Or create a project in Asana or a board in Trello.

Part 2:  Create a list of everything you’re looking to receive.  (If you get paper copies and work with your tax person virtually, you may want to scan and save the paper docs).

Part 3:  Save all the tax documents to your electronic folder and check them off your virtual list.

Tax Time

When tax time comes, you’ll be more than ready to meet with your tax guy or girl.

Everything will be all in one place and ready to go.

Super simple… super easy.

And a lot less stressful.

So what do you do to take the stress out of text time?

What tips and tricks do you want to share?

Until next time,

Notes & Resources:
Work With Me – Virtual CFO
Bookkeeping Basics Checklist
Templates & Checklists (like budgets)

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