It's Almost Tax Time Again

The end of the year is upon us. Do you have your tax information in order? Starting now to get things in order would make your tax prepares job easier. When organizing consider the following items.

Will I itemize this year? If you will be itemizing make sure you have the following items organized. First make sure you have totals for any medical expenses paid out of pocket not reimbursed by your employer. Second make sure you have totals for state and local taxes paid. Also consider interest you paid, gifts to charity, casualty or theft losses, job expenses and certain miscellaneous deductions. See IRS schedule A for more information. http://ping.fm/evouN

If you have a small business, consider the following. Do you have your income totals for the year? Have all the expenses of your business properly catergorized? What adjustments need to be made to your financial statement before they are ready for the final review?

This is just a start of what should be considered as we approach another tax season. If you have questions about your tax situation please leave a comment.