Finance Gets Personal

I was so proud of myself last year.

In 2007, my big, fat federal refund was in my checking account by February 15. It was the first time I hadn’t waited until April to do my taxes. Believe me, I know where the city’s post office that’s open ’til midnight on April 15 is.

This year…not so much. Once I figured out how much I owed/was getting back, I put my taxes in a pile on the floor until April 13. And you know how that went…

So, boys and girls, it’s time to get organized for next year’s taxes. It’s actually really easy (or, at least according to my definition of “organized.”)

Step One: Find a manila folder, basket, cookie tin, etc., and label it “2007 Taxes.”

Step Two: Put all your tax-related receipts in it as you acquire them. Look at your 2006 tax return to see what you had - receipts for charitable donations, medical expenses, mileage…you get the point. Then put your highly efficient organization system somewhere that’s easily accessible so you will actually use it.

Step Three: Set a date to do your taxes. Yes, right now. Employers are required to send out W2s by January 31, and my Outlook calendar says I’m free on February 9, 2009, so I’m going to make an appointment to start my taxes that day. I’ll set a reminder for the following week to finish up. Voila! Right?

(This post was included in the Carnival of Personal Finance, hosted at The Happy Rock.)