Tax Prep
‘Tis the season. Receipts, documents, and file folders cover my dining room tabletop.
All year, the slips of this and that have been deposited in a basket. They must be gathered into appropriate piles and compiled into data charts.
My tax preparer does E-filing. A month ago, I received the dreaded email: it’s time to fill in your Tax Organizer. Gone is the day of carrying said basket to the accountant.
Once the papers have been sorted, key items must be scanned and saved in computer folders/subfolders.
If I compile tables of information, I only have to maintain the records rather than send the massive pile to their office.
For example, I make a document of all income (personal and business) and other pages for itemized deductions: expenses (business and medical).
As we age, the medical deductible section grows yearly. And since we live in a rural area, we must travel thousands of miles per year for our health care. Sometimes, we even have to do short hotel stays: yes, this lodging can be expensed-remember to ask a hotel in a hospital vicinity if they give special rates to patients and family members.
Have you filed your 2024 tax return? Maybe you’re the early bird who has already received (and spent) their refund. Or are you the poor soul who owes Uncle Sam?
