Top 5 Tips to an Easy Tax Season

1. File folders are your friends!
Set up a desk filing system, place it front and center on your desk just waiting to be used. Label your folders with categories that relate to your business.

2. Itemize Your Deductions Throughout The Year.
This alleviates the headache of shuffling through each and every receipt trying to find and total up deductions. Again, file folders are your friends:)
Sample folders you may wish to include for your deductions are listed below:

  • Advertising
  • Auto
  • College
  • Depreciation
  • Donations
  • Home
  • Legal & Professional Fees
  • Medical
  • Office Supplies
  • Other Expenses
  • Shipping Fees
  • Supplies
  • Travel
  • Utilities

3. A Little Time Now Saves A Lot Of Time Later
At the end of every month pull out your trusty file folders and enter them into a spreadsheet for month end totals. Your spreadsheet should include the same info on your files from our top 2 tips. This will prevent dread when you think of tax season:)

4. For Those On The Go
We get it you are busy – you are in and out of your office all day, who has time to file? Well we have a solution – invest in a little mini accordion file. Attach the same labels as you would on your desk top organizers and transfer them over to your desktop filer. Or better yet just enter them directly onto your spreadsheet at the end of each month.

5. Clear Your Mind
This may be the utmost important tip we have. Do whatever clears your mind for you – that may be yoga, fishing or hiking. Whatever it may be make sure to take time to take care of YOU.