Starting this year differently....

ShareTweet

Well here it is again...Tax Time.  We are putting together our records for 2010 and promising ourselves to be more organized this year. Even though the intention is there you may not be sure where to start.  Here are some organizational tips that will make you more efficient in your business and result in you paying less tax.  This system will take less time and result in more money for you and your business.  

The first thing you will need is a good filing system.   File by category.   Pick the categories that fit with your business and set up file folders for each category.   To be really organized used the same categories as outlined in your tax return. 

Set up a basket or in tray as a holding spot for receipts and other paperwork that will need to be filed on a regular basis.  Your goal is to file all the paper at least once a week into its proper spot. 

The best way to do this is to schedule some administration time into your weekly planner.  This will create the space for this task to happen.  Filing your receipts on a timely basis will ensure you have all your receipts when it’s time to tally up your business expenses. 

Having all your business expenses means paying less tax.  It also means you will have a clean, desk, purse, wallet, car......  Studies show that a clean desk is more productive than a cluttered one.