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 apply. Only instead of dumping the stuff off with someone  else, you have to do it yourself. Give yourself plenty of time to read through instructions for each form that you need. You can also visit irs.gov for information on contacting the government professionals.

And, if you are looking for some savings, there are some things you can do. Free From Broke offers an excellent list of tax savings tips and ideas from donations to selling losing investments to opening a new retirement account.

Image source: sxc.hu

Post from: EveryJoe

End of the Year Tax Preparation