Hello everyone! It’s been a while since my last post. Tax season
took me over! But I am back, and now that tax season is past it’s
peak, I wanted to give you a few quick tips to get you ready for next
year. When it comes to taxes, it is always best to start on the right
foot. So here are a few things I suggest to start doing now, to be
prepared for next year.
- Set up a good file system and/or bookkeeping system and record your income and expenses on a monthly basis.
- Meet with your financial planner to strategize your retirement plan and investments
- Review your finances and businesses on a quarterly basis so you can
see where your money is going and if you should be making adjustments to
your spending. If you have a good bookkeeping system in place this
will be easy.
- Keep a mileage log in each car. There are deductions for mileage in
many areas: business, employee expense, medical and charitable.
- Review what kinds of items are tax deductible so you know what to keep track of during the year.
I hope this helps you get ready for next year! Let me know if you
have any question or need any help! Also check out my website for more
information about tax savings!
www.avoidbeingaudited.com.
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