"Lets decide to do the things we know we will not regret."
Ahhh tax time! This is new for me. It is my first year of paying taxes and I'll tell you what, nothing has made me want to get more organized than this very new-to-me task of filing taxes.
Most of my stuff was in order, thankfully, but some information that would have been helpful is just obscure or not there.
So I am inspired again to get organized. I have a lot going on as I will be starting work at a new location soon and I want to start '16 with organization!
As a tip, you and I will never regret being more organized! We will regret not being organized and at that point, it will be too late. Wouldn't you rather take a little extra time here and there throughout the year to get your ducks in a row before tax time, instead of frantically trying to figure it out at the end of the year with little record to go off of?
I am using TurboTax to file taxes and it's very nice. I didn't realize how detailed it would be.
For example, I expected to simply put in a total amount of money for business expenses but they ask specifically what each expense was: what your travel expenses were, what your office supplies cost, what advertisement and insurance cost. They wanted to know what my odometer read at the beginning and end of the year and even how much I drove for personal stuff too.
I'll tell you what, I pay very little attention to my odometer.
I have always felt that I should keep better record of money because I'm a visual person and I often have to see it to believe it. I need quantitative evidence with money. If it's gone, I like to know exactly where it went. Granted, my bank account keeps track, but it helps me to do it myself. Plus, my mom would tell me that the bank could make a mistake or a charge could come through that I didn't do.
SO! For 2016 I started a notebook (Yayy! New notebook! I love new notebooks.) and I have about a million little tabs that have every category I could remember from TurboTax's site.
All my income and all the things I pay for - business or personal.
I am determined to take it everywhere I go and write everything down!
My notebook with all the pink tabs for all the things.