Tips and Tricks: Tackling Taxes

Get tips on holiday decorations, tackling taxes and what is a good seller on eBay.

Quote of the Month

“Better late than never.” – Unknown

Are your holiday decorations still up? No worries – there are still other folks out there who have theirs up, too. Some say it makes them happy to see them. Some say they don’t have the energy to put them away. And, some say there’s no room to put them anywhere. No matter the reason, it’s not too late to deal with your decorations. TIP TO THE WISE – as you put them away, take a moment to get rid of the ones that never made it out of the box. It’s ok. Offer them to family or friends with the stipulation that they must pick them up within the week or they will be donated or tossed.

TIME FOR TAXES!

How is it that Tax Time comes around so quickly? How many of us resolve to do a better job documenting expenses throughout the year so that tackling taxes is not so stressful…but how many of us actually make the changes in a timely manner? Remember – it’s progress, not perfection and you can start making changes NOW so that tax time is more….fun?

A few recommendations so that next year can be easier:

When something comes in the mail and it’s tax related, pop it in a 2020 Tax File same day – no build up allowed.
If you don’t have a file, make one. Even though I’m not a big fan of accordion files, you can use an accordion file to store any tax related receipts. Sample categories would be Charitable donations, Property Tax bills, Major Purchases, Income, Childcare expenses, Work related deductible expenses, HSA account, Health related. If you aren’t sure of your categories, just look at the nearest pile of papers and start sorting – whatever piles you have would make excellent categories.
You don’t have to be a computer whiz to start a list on the computer and add to it every time you make a business related expense.
Mark on your calendar, once a month, to catch up on uncatalogued receipts.
If you don’t have a lot of room in your file drawers, remove expired insurance policies (homeowners, auto), irrelevant utility bills from decades past.
Move old tax files that you want to keep to another area….labeled and boxed in a remote place.

Give it a try! Won’t it be fun to shock your tax preparer with ‘ready to go’ and start tackling taxes in February 2021.

eBay Item of the month

Sterling Silver

If you have a set of sterling silver taking up space, consider having turning it into cash. Contact Howard to discuss your silver or any other items you have that may be of value.

“Helping Baby Boomers and their Parents Lighten their Loads”

If you are feeling overwhelmed by the amount of stuff in your home, contact me. Together, we can transform your home into a happy, tidy place where you can feel at peace. We can also get you ready for your next move… more enjoyably, faster and easier. We specialize in senior moves and helping families find new homes for the things they no longer have room to keep. We can also take care of clearing out homes that need to be listed quickly for resale. Contact me to schedule an appointment.