Yes, that’s right, it’s that time of year nobody loves – tax time! No, this is not too early to think about it, especially if you have money coming to you.
All right, so it’s not fun to think about doing your taxes. But there is a distinct advantage to getting an early start – it’s a reminder to be more organized in this regard in the year to come. Make this as pleasant as possible next year.
Now, if you and your spouse each have jobs rather than businesses, your employer has handled the bulk of the paperwork as far as paying taxes goes. You just have to know what your deductions are. If you’re only taking the standard deduction, you may be paying too much, sometimes quite significantly. If you aren’t sure what all you can take a deduction on, consult your accountant, or, if you do your own taxes, go to http://www.turbotax.com/ and see what they suggest. You may get a pleasant surprise. They links to tax tips right on their front page.
Of course, if you have a home business, you have more paperwork and more deductions to consider. This is why many home businesses prefer to use an accountant. It saves a lot...