Tax Season Organization
Are you one of “those” people who wait until the last 2 weeks to get your tax information pulled together and filed? Maybe you file your taxes minutes before the midnight deadline on April 15th. No matter what type of tax filer you are, there are several ways to get your papers in order so you can breeze through tax season.
The first tip is to start out your new year getting organized. Create a filing system based on the categories you will need to report or claim on your taxes. If you have a business or itemize your taxes, then you will need to have more categories in your filing system. Try and keep it as simple as possible starting out. You can always add a new category or break one out if you find it is useful for recording purposes.
Create a tax space. As documents come in the mail, move them to the tax spot. Once all your W-2’ws and other tax documents have arrived you will have everything ready to go to figure your taxes.
Go digital! Keeping receipts in a shoebox really does not work well for most of us. It is ok to keep digital copies of your receipts. Be sure to back it up in the cloud so you will always have a copy. Yes, the IRS is ok with this, the key is to back it up in the cloud. This is also a great idea because many of the receipts we get often fade or even disappear over time because of the paper they are printed on. Take a photo with your phone of your receipts and organize those photos into categories and files to help you to go digital.
Get in the habit of sorting receipts weekly! Sorting and filing for 5-10 minutes each week will go a long way in getting you organized and ready to file your taxes. Be patient with yourself, it takes several weeks to create a new habit. If you are overwhelmed by everything, start small and set a timer for 15 minutes and work until it rings. Do it again the next day. This simple activity will help you to get it organized in no time.
Make a date. For most of us, if it is on our calendar or schedule, then it will get done. If someone is going to figure your taxes for you, call them now and get on their schedule. If you plan to do your own taxes, set a date with your computer to sit down and e-file your taxes.
If you plan to come to our VITA (Volunteer Income tax assistance) site, you will need to gather a few things before you come. We are only able to file for taxpayers who earn less than $66,000 per year. Be sure to bring all W-2’s, a copy of last year’s tax return, a social security card for everyone in your family, bank account information for electronic deposit and health insurance information if you receive your insurance from the Marketplace. Our site is on a first-come, first-served basis. It opens on February 8, 2020. We have extended our hours on Wednesday’s and Thursday’s from 10:30 am until 6:30 pm and Saturday mornings from 8:30 am until 12:30 pm. It is located in the Johnson County Sunset Drive Office Building at 11811 S Sunset Drive in Olathe.
