Home Personal Finance Seriously, the best time to start on 2016 taxes is now

Seriously, the best time to start on 2016 taxes is now

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It’s only 355 days left to file your 2016 taxes.  Get started now!

A couple tips:

  1. Create a spreadsheet that has one worksheet for every tax year.  On this, keep track of your charitable donations and charity miles driven.  Yes, if you drive to drop off stuff at the Salvation army, you can deduct this.  Or if you drive as a leadership volunteer or musician at your church.  You are driving for a non-profit.
  2. Get a yellow manila folder for the 2016 tax year, and drop in all your receipts that are deductible in there throughout the year.  That way, you won’t have to fumble around your house next April looking for those faded receipts.  It’s already organized in your folder.

Now that tax year 2015 has wrapped, it’s a great time for consumers to take steps to cut what they’ll owe next April.

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