Monday, January 20, 2014

A Not So Exciting Post {with a Printable}

January usually means a New Year, a fresh start. Along with that comes workout/getting healthy resolutions, budgeting goals, & planning for the year to come. Something a little less exciting also comes in January…Tax Season. I know right, who wants anything to with taxes…especially on Monday (maybe some of you are off for Martian Luther King Jr. Day! YAY!).

But let’s face it…if y’all are anything like me you haven’t even started thinking about it much less anywhere near prepared. That’s why I thought it would be great to help out a little! I am sure most of you are list makers! {How do people get things done without them?!} So I’ve prepared a little list of important things AND posted a printable worksheet to keep you organized! {The only thing better than a list is worksheet, right?!}

So lets get started. There are lots of things you’ll need to gather up to prepare your taxes. Whether you’re doing them yourself or are taking them to a professional, you’ll need to get this stuff together…

  • Personal Information:

These are pretty basic but essential pieces of information you’ll need to begin your tax preparation.
o   Social Security Number
o   Spouse’s and/or dependents Social Security Numbers
o   Last Year’s tax return

  • Financial Information:

These are things you tell yourself you need to keep all year but when the time comes, you can’t quite find it. Yep…we’ve all been there. Good thing you’re starting now!
o   Employment W-2s
o   Income statement for any self-employment (if applicable)
o   Information for any taxes you have paid during the tax year (property tax, sales tax, etc.)
o   Mortgage interest statement if you own a home
o   College tuition statements, student loan interest, & education expenses for you college students (or parents) out there.
o   Retirement account contributions or distribution documents
o   Charitable donations made throughout the year
o   Medical expenses & any medical savings account contributions
o   Job search expenses or moving related expenses
o   Information on dividends or interest income earned

The printable worksheet that you can download below will include spaces for you to fill in the above information as well as other categories that you may not think of. This document is something I started using a while back and I honestly don’t remember where I found it. I am all about giving credit where credit is due so if one of you know where the original source is I would love to link it!

Download Tax Worksheet


Taxes are not the most exciting thing in the world – in fact they may be the furthest thing from that – but they’re necessary! Getting organized is essential and hopefully you can take of advantage of starting early…after all, the early you get them filed, the earlier you might receive your refund!

I hope you each have a great week and are pumped about Bachelor Monday!


Frankly My Dear…worksheets make everything better!

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