If you file a tax return extension, the IRS will give you an additional six months to turn in your tax return and pay your taxes.

Now is the perfect time to get your stuff together for taxes. Tax preparation is something you should be doing right now, so that you are ready to go when your tax return is due. This is the time of year I start getting my stuff together for the accountant. And one of the things I do is itemize my deductions.
When to itemize your deductions
You want to itemize your deductions on Schedule A of Form 1040 if your deductions add up to more than the standard deduction that is offered. Mine do. Schedule A  includes deductions for your mortgage interest, …read more

If you haven’t started already, now is the time to start your tax preparation. The sooner you start, the less stressed you’ll be.
Even though I have an accountant do my taxes, I still like to be prepared. Make sure you have all your information together, and the proper documentation. I make this something I do over the year, with folders for charitable contributions, income information (pay stubs, monthly PayPal statements, husband’s W-2, etc.), business expenses, savings account information and retirement account information.
But before things got so complex for me, I used to do my own taxes. The same basic rules …read more