By Wendy Brumbaugh
April 15, the typical tax deadline, is over for most people and we are not thinking about taxes. However, now is a good time to start thinking about next year. After all, the topic is fresh on our minds.
There are a few things we can do to make the process easier:
First of all, keep good records. Whether that means filing receipts or keeping your QuickBooks up to date, the end of the tax year will be less of a burden.
Second, don’t procrastinate. Stay on top of your financial responsibilities. You may want to complete a net worth statement each year at this time.
And third, do your homework. Tax laws change and it pays to know about certain tax credits, exemptions, and deductions.
If you have questions, call your CPA before you make the appointment for filing your taxes. It will make your life simpler as well as his/hers.
Wendy Brumbaugh, Family Financial Education Specialist
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