It's been a rough winter in much of the United States. Washington, D.C., where I live, had its snowiest winter in 4 years. And that doesn't account for the polar virtex which combined high winds and frigid temperatures. It's not surprising that many people are looking forward to spring.

But spring comes with its own challenges and tasks. We'll look at this dark side of spring this week.

In the United States, spring is tax time. Barring an extension, individual tax returns are due on April 15th. That means you need to organize your financial files ASAP. If you use a tax professional, you'll want to make an appointment soon. It's best to complete your tax forms as sson as you have all necessary information. If the government owes you money, file as early as possible so that you get your money back. If you owe the government, you can wait until early April to file. That will give you time to set aside the necessary cash.

The really dark side of preparing your taxes is that it forces you to look honestly at your financial situation. I know, that can be scary. Here are some things to look at as you analyze your situation:

1. Are you having too much/too little withheld for taxes? If you owe a lot or get a lot back, you may want to adjust your withholding. Tal;k to your company;s human resources office.
2. Are you taking advantage of available tax-deferred vehicles for retirement saving? Are you saving enough for retirement? Are your retirement savings divided between accounts that are tax deferred now and tax deferred later? Are these savings balanced for risk and sector, based on your expected retirement date?
3. Do you have emergency savings of 6-8 months of living expenses? (Do you know what your monthly living expenses are?)
4. Do you have savings for when life happens, such as car repairs, a furnace repair, etc.?
5. Are you saving for other important things, such as college or a special vacation?
6. What percentage of your imcome are you saving (for #s 2-5 above)? What steps can you take to save more?
7. What percentage of your income are you donating to charitable causes that are important to you? How do you decide where you will donate?
8. How much debt are you carrying? What can you cut from your budget so that you can reduce that debt more quickly?

None of these questions is easy. Some may require advice from a financial planner. But spring tax time offers a great opportunity to address these questions.