Let’s face it: nobody dreams of doing taxes, or actively enjoys it. While many of us might agree that taxes are necessary as a society, that certainly doesn’t mean that it isn’t something that we get anxious about. However, it doesn’t have to be something that we constantly dread! Here are five ways to make tax season a little more tolerable, and a little less stressful.
Everyone knows that one of the best ways to take care of something is to deal with it in manageable chunks. Don’t wait until the last minute. You might find yourself overwhelmed, not understanding which forms to fill out, which will only lead to more stress, which could lead to you putting taxes off more. Before you know it, it’s too late, and you owe penalties. Try to get ahead of it by dealing with taxes a bit at a time, ahead of time.
We know that taxes aren’t something that you want to do, but we all know that it is necessary. Whether you like it or not, it’s part of life, and you should embrace that fact, so you can go on with your personal and professional ambitions as quickly as possible. Here are five ways to make sure that your next tax season is less stressful.
Don’t Mix Things Up
We all know that problems arise whenever we mix up our business and personal records, and many tax issues come from this one simple mistake. If you are constantly eating out and it has nothing to do with your business, don’t try to get away with deductions – and don’t mix things up on accident, either.
It doesn’t matter what you need to do – get organized. For some people, this might require more mental effort, if they aren’t naturally keen on organization. If you need to hire one of a selection of bookkeeping firms, do so. The truth is that bookkeeping firms can save you a tremendous amount of time and energy during this time, and the financial cost of hiring one is often very much worth it for the amount of stress and worry they save you. Peace of mind is undervalued, and money isn’t everything!
Do Your Taxes Online
This is probably an obvious one for most people, but if you’re one of the few who still does their taxes “the old fashioned way” with paper forms, it’s definitely time for you to make the jump to doing your taxes electronically. There are plenty of online tax software services, such as TaxAct, where all you have to do is fill in the boxes with the information they ask for, and the software more or less handles the rest. Their services are sometimes even free of charge if you’re low income, depending on what state you live in (consult your state’s DOR website to learn more about that), and even if you’re not, the charge is quite small – and as I talked about before, the amount you pay is completely worth it when you consider all the stress and hassle it saves you.
Keep Better Records
If you’ve already started looking into bookkeeping firms, great. Either way, you should concentrate on keeping better records! We all know the one man or woman that can never find the right records, and that keeps things in different cabinets, and seems to be always struggling to find what they need. Don’t let this be you. By keeping better records, taxes might not be a blast – but they can certainly be bearable. This is also a better life hack in general for your personal and professional life.
If you take this advice, the sooner you can do the things that you want to do. You can catch up with friends and family, instead of worrying about how terrible taxes can be. Of course, if you look into bookkeeping firms, and decide that your own time isn’t worth it – this is always an option. Regardless, we hope that your tax season isn’t as stressful as it needs to be.