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Staying Prepared for Tax Season

Category Budget

Tax season is here. I've learned the hard way to stay prepared. Throughout the year I save ALL receipts. I use a bookkeeping program and enter the receipts into it weekly or more often as needed. Come tax time just print out the register from the program and use different color highlighters for different to highlight the different tax. Much easier than trying to gather it all up during tax time.

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By Verue

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January 3, 20130 found this helpful

When I write a check for a tax deductable item--like repair on a rental property, water bills, or property tax on a rental, I enter the check information in red pencil. Easy to spot the entries at Income Tax time. Ruth

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