I'm crazy busy. You're crazy busy. And April 15th is only a couple of weeks away. My DO BIN pile of client tax returns is overflowing. But I tell myself it's OK. No need to panic. And I tell you the same thing: No need to panic. There are ways to make your tax time a little easier. Here are a few helpers.
For starters: File An Extension
Because of this year's mad scramble at the IRS due to last-minute tax law changes I have urged all my clients to go for an extension.
Ignore the old husbands' tale that filing an extension triggers IRS computer screens to flash "Audit this return!" Not so. An extension gives you more time to collect and review your material.
There is more information on how to file an extension, how to pay if you owe the government, and why it is smart to file your return after April 15. It's here on my post File an Extension. It's the smart thing to do.
To apply for an Automatic Extension Form 4868 you must file for it by April 15. You can file online, by phone, or by mail. If you file an extension you have until October 15 to file your return.
Then: Three Free Lists for Download
Want to know what is a deductible business expense for indies? Check out 100+ Business Expenses To Help Reduce Your Taxes
Are you using Quicken? Want to make the categories work better for you? Check out Quicken Categories Adapted For The Self-employed
Going through the mess of papers in the attic looking for last year's tax return? Wondering how long you need to keep those boxes of receipts and old checkbooks? Then check out How Long to Keep Records: An Easy-to-use Chart
For more help: My Two New Books Go Hand in Hand
For a simple guide to being self-employed and understanding deductions, income, and taxes check out
The Confident Indie.
You'll find simple how-to for things like:
- home office rules & deductions
- auto and travel expenses
- how to handle reimbursed expenses
- when must you pay estimated taxes.
For recordkeeping how-to, both manual and digital.
Learn how to make Quicken work better for you.
Simplify your tax return process and preparation using worksheets for your 2012 tax return.
Check out The Confident Indie Keeps Good Records.
And for even more help: Try My WebsiteMany of your questions are answered on my blog.
I know that in one or some of these resources you will find information that will help you reduce stress and anxiety, and save time, accountant fees, and may even lower your tax burden!
Cheers,
June
june@junewalkeronline.com
