Tax Time, Lessons Learned
Tuesday, April 15th, 2008I filed an extension yesterday to give me extra time to wrap up a few things. I’m coming off a year where I sold my last company in early 2007, so it’s a bit more complicated than normal years. I’ve learned a few things in the process of gathering my taxes for this year that I should have known before. The first thing is to stay organized throughout the year. I made a mistake of not staying on top of things and it’s made the last few weeks a lot more hectic than they should have been. Second thing is to contact your accountant well in advance of April 15th. I dropped the ball here as well and waited until about one month ago when almost everything was booked up. So for this next year, I’m staying a lot more on top of things by generating monthly reports and keeping my accountant in the loop with quarterly updates. By keeping better organized, you won’t see me having to file an extension for 2008 and I’ll probably spend 1/10th the amount of time trying to locate things as I did this year.
