IRS Rat TrapAh rats...its tax time again! I know, it comes once a year...like Santa Claus except the difference between Uncle Sam and Santa Clause is, one gives the other takes away.  One is looked forward to the other isn't. Uncle Sam represents the Grinch that stole the joy of Christmas (except I don't know anyone that thinks there is any JOY in Tax time other than an accountant who makes a living doing taxes) and Santa symbolizes gifts, giving and well, returns and debt. Hum, well the tax refunds pay for some of those gifts so does the end justify the means? Not for me...maybe for you.

Hey, have you ever heard of "Home Run" - it's kind of like "Groupon" or "Living Socials"  (daily deals). Anyway, Home Run has a deal on getting your taxes done. It's $69 for what would normally be $200. Not sure if this deal would be for a business - but perhaps the amount could go towards the price. I thought it was funny when I read what Home Run said; "there are only two certainties in life: death and taxes." That's kind of a "cold thought" isn't it!

I have a file (one for business the other is in personal files) called "Taxes"  Within that hanging file are folders labeled:

•    Taxes - Current Year
•    Donations - Current Year

In my business side I also have 4 folders for Receipts:

•    Jan-March Receipts
•    Apr-June Receipts
•    July-Sept Receipts
•    Oct-Dec Receipts

When I make my folders up I do it "generic enough" that I can use them year after year and just place the "current" in one folder, label it and archive it with that year.

I also have a "Banking" Tab and in those files are the accounts I have. I have a Credit Cards Tab and again, the applicable card names on the folder.

I personally like to wait until the end of the year to shred my documents that DO NOT document taxes. The IRS just changed the requirement of keeping records to 5 years, but you must keep employee records "Indefinitely"

If you need help dealing with Uncle Sam's required paper list or Santa's shopping list...give us a call. We deal with happy circumstances and even"The Grinch's"

Rebekah Phelps
703-980-1114

PS: Did you know they changed tax filing day to April 18th this year? Ah, a few extra days!