Now’s a great time to think about your 2010 taxes. Why now? Because even if you haven’t started preparing your tax return yet, you can do it correctly with no agonizing well before the April 15 deadline.
This year April 15 is a Friday, which means filers won’t have a weekend to crunch their numbers before the filing date. And there are few things as stressful as money, taxes, numbers AND a deadline, all confronted after a long day at work. So spare yourself.
If your tax paperwork is far from complete, dedicate an hour this week to:
— consolidating all relevant papers in one place (a shoebox, file or bin)
— determining what, if any, essential documents are missing
— calling brokerage houses, etc. to obtain the statements you need
Now, mark a two-hour block in your calendar next week or next weekend to start working on your return. Sort your paperwork into key categories (business expenses, childcare payments, etc.). You might be surprised at how quickly you’re able to complete your paperwork once you commit to starting the task.
And if you’re lagging on getting started, you have lots of company in the Lone Star State. TurboTax’s number-crunchers say Houston residents are the biggest procrastinators in filing their returns (using TurboTax, of course). Next, in descending order, are Chicago, New York, Austin and San Francisco. See the entire list here.
How are you progressing on your 2010 tax return?