If you have put off taxes, and many people have, there is still time to buckle down and finish them before April 15th. Asking for an extension just prolongs the misery and weighs you down. You know they need to be done so why not just get on with it? Now. There is no more time left to procrastinate.
How to start? Here are 10 easy-to-follow steps:
1) Set up a date to meet with your accountant, if you use one.
2) Schedule time on your calendar to work on your taxes (and only your taxes in this allotted time). Be sure to keep the appointments.
3) If your accountant has given you a worksheet, read it through carefully it so you know exactly what is needed.
4) Pull out all of your papers and divide them into categories. Print the documents that are on the computer or copy them onto a USB or CD for the accountant.
5) Sort the papers again, this time into subcategories. For example, you might begin with a stack labeled clients and gradually whittle it down to a number of individual clients.
6) Write down your questions so you do not forget to ask your accountant or a knowledgeable source.
7) Call for the documents that are missing.
8) Label each stack of documents, using binder clips to separate them. While all of these stacks may not be needed for the accountant or the IRS, it helps to stack them in an organized pile.
9) Put in as much energy and time as needed to finish the job on time. Forego weekends and week nights, if that is what it takes.
10) Make sure the government office signs a receipt and returns it to you. Keep the receipt in your tax file. If the IRS later on says that they never received your taxes, you have the proof that they were sent. This happens more than you may realize.
Now sit back and relax while your friends and colleagues scurry around in panic mode trying to meet their extension dates because they put their taxes off. And you didn’t!