The time to organize your tax records is now. Waiting until the end of the year or, even worse, waiting until you are audited can lead to headaches. Here are some tips to get on top of your tax records.
With the flip of a switch, a number of tax provisions that expired at the end of 2013 are now back on for 2014 tax returns. Outlined this month is a list of the more common laws that have been extended for 2014, but are off once again in 2015. Also included are the mileage rates for use in 2015, a general interest article describing the increasingly popular peer-to-peer lending phenomena, and a quick recap of things to consider as you start gathering your 2014 tax records.
Should you wish to review your situation please feel free to call. Also feel free to forward this newsletter to someone who may benefit from this information.
In our busy lives, it's sometimes tough to corral our financial records. Bills, paycheck stubs, tax returns, and bank statements can disappear into dusty attic corners and bulging desk drawers. Important insurance policies can hide out beneath bins of holiday ornaments and electrical supplies. Mortgage documents can sneak into old books or ensconce themselves in nooks and crannies throughout the house.
Take the time now to coax those papers out of hiding. Here are four suggestions for getting organized.