Time to File Those Taxes

It is that time again! Time to get back some of what the government Snatched 💰💰😉..

I've been filing my own taxes for the past few years and what I absolutely love about that is:

▪1) It saves me money

▪2) I get the opportunity to see & ensure that I am maximizing my deductions first hand.

▪3) It is an appreciated challenge as I get to learn something new each year, plus I love playing with numbers.

A quick tip to ensure that you are getting your maximum refund, is to keep a checklist 📝 of all the available deductions. This will help you unearth expenses that you can actually deduct. Remember, there are so many different things that you can write off!. There are more than 300 tax deductions and credits available, so be sure to look into ALL that applies to you.

Also, if you are a small business owner, 2 awesome tools to utilize during the year are Quick Books and Miles IQ. QB allows you to save all your receipts and invoices on the go and Miles IQ tracks all your business mileage automatically so that you are not missing out anything. This way, you get to ensure your maximum refund.

Remember that every purchase that you make for your business is a tax write off. Do not disregard those gas receipts, stationery supplies and PLEASE do not forget bigger ticketed items like machinery, vehicles etc. If you are a small business owner, and you do not really have employees, you can assign your children minimal tasks or whatever you think they can handle and write them checks for the work that they perform. This way, you can document that you made payments for the work performed and this can be a tax deduction.

These are just a few tips for filing your taxes. If you have an accountant, they will already know all the documents to ask you for based on your lifestyle. And whether or not you decide to file your own taxes, having all your documents prepared is very helpful. Your accountant will be happy and you will find it less stressful. Happy Filing!