Tax Time Approaches

I try to keep regular track on my accounts and such. New Years for me generally includes starting to organize my tax paperwork and archiving the documents from last year. This year, after a few year hiatus, I have some freelance-related expenses to organize to give the accountant on top of the usual income information. It's cheaper to pay an accountant than submit incorrect forms.

While employers and investment companies don't have to turn over W2s and 1099s until the late January, I can still organize my business expense documentation now. The one thing I tried to do during the year was to make duplicate copies of receipts as I received them that way when tax time started to roll around, I didn't have to spend as much time at the copy machine at the 11th hour. I don't like to hand over my tax-related documentation to the accountant without having backup copies. You don't want to be stuck in a position with the originals going MIA and no backups. I doubt the "dog at my homework" excuse will fly with the IRS.

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