The Twelfth Day of Christmas
January 6, 2011Winter Entertaining
January 24, 2011I know, I know. It's too early to think about taxes. Tell that to the state of Maryland which mailed me forms this week. (I don't know why they mailed forms. I filed online last year.)
You don't have to do your taxes now. You likely don't have the documentation you need yet. I won't get my W-2 until the end of January and reports on my investments until after that.
But you can get ready.
- Find last year's tax forms (of course you kept a copy!) It's amazing how helpful last year's form can be.
- Gather information about your deductions — real estate taxes, business expenses, medical costs, charitable deductions, etc. Having all that data handy will be hugely helpful when you sit down to fill out the form or you go to a paid preparer.
- Put everything you will need for your taxes into a CLEARLY MARKED folder or envelope and put that envelope in a safe place — where you won't forget about it.
- As additional documentation comes in, add it to the envelope.
- When you are ready to file or meet with your preparer, just grab the envelope and go.