Who else dreads tax time :(
I know it's only January, but as a fairly organized person (when it comes to bills and stuff anyway lol), as soon as the kids go back to school in January, I start thinking about tax time. I eye the bulging drawer holding all the bills and receipts for the year. I fill up the stapler and get the shredder ready, then I dive into sorting hell. Please note, I start out each year with folders with categories but sometime around the end of summer, my system goes to hell. I'll just blame the husband. I'm sure it's his fault somehow lol.
As if paper chaos wasn't enough, as a self-employed individual, I agonize over whether or not I've paid enough taxes over the year. I always fear I haven't and start eying my budget to see if I can squeeze it tighter in case of a nasty surprise. I've yet to see a credit at tax time
Previous years I've done my taxes myself, but this year, I give up. I know I'm not getting all the deductions I should and that means I'm paying too much to the government. So this year, I'm biting the bullet and going to see an accountant. But that comes with its own set of fears. For one, it's kind of personal to let someone see all your receipts and have them know what you spend your money on. ( I swear the sex shop one was for research purposes. LOL) I also wonder how much I need to do beforehand. Right now I'm organizing all my papers into manila envelopes– ie utilities, house repairs, pay stubs, medical receipts etc. But am I doing enough? Too much? Have I mentioned I worry about the most inane things lol? Also, how much do I need to tell the accountant before they roll their eyes at the information overload? If I don't tell them enough will they know that the blurry receipt was for the new keyboard for my work computer. Will they understand that the books I bought were truly for my work? Actually they were lol.
And this is why I start my taxes early because every year I go through this agony and it's not over until I file them and pay whatever I owe (because the government seems to increase the amount every year). Then I have about 9 months to relax before the stress starts all over again.
lol
What about you? Do you turn into a stress bag when you know tax time is coming?