It’s a mere 16 days until we bid 2016 good-bye and move on to 2017. It’s a good time to think back over your financial year and see if there’s anything you need to purchase before the year’s end. While you’re at it, think about any charitable donations you’d like to make. Donations made to a 501(c)(3) charity are deductible on your tax return if you itemize and exceed the standard deduction. Donations made to Go Fund Me sites are very worthy, but they’re not deductible.
It’s also a good time to think about organizing your receipts and watching the mail for your tax documents from various companies. While you’re at it, be sure and think about who is going to be preparing your taxes. Are you thinking of going to a big box company or using an online tax prep method? Doing your return yourself? I hope you’ll come back in a week or two and read our thoughts on those types of prep. They’re sometimes cheap, and appear to be easy, but they won’t remember your name or ask you questions designed to help you think about your deductions. Years ago I did our family’s return. Not anymore! If I’ve learned anything from working as a tax consultant, it’s that going to a trained, qualified professional is the best investment you can make.
So get those receipts together, make those donations and purchases, and think just a little about April 15th. We don’t want you to stress too much over it. Let us do that for you. That’s why we’re here. 🙂