Gettin’ Er Dun (your taxes that is)…

The forecast calls for blue skies and sunshine here in Texas this weekend. While most people are out enjoying the beautiful spring weather…I will be stuck inside slaving over my taxes! *sigh*

Besides telling you how to lose all or most of your hair (from pulling it out in frustration), I’d also like to offer up some advice on how to cope with this time of the year.

  • Be organized - Put all of your expenses on one business credit card so you can look through the statements and add them all up at the end of the year. Same goes for your business checking, savings account, and all of your receipts. Also, write down everyone you’ve given a 1099 to or received one from. When you have all of your expenses organized in just a few places, it makes collecting everything very simple.
  • Get a good accountant - Unless you own an accounting business, you should not try to do this alone. Stick to what you’re good at and hire an accountant!
  • Budget for tax season - I recommend saving for year long for this occasion and plan on having a lean first quarter to recoup.
  • Just do it - Procrastination is the devil’s work! Get it over with and then reward yourself—with a manicure, pedicure, facial, or massage. Ahhh…I can hardly wait for the reward part!;)

Have you gotten your taxes done? Are you paying “the man” or is “the man” paying you?:)

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