Sunday, January 9, 2011
Tax Tips by A.J. Jones
TAX SEASON IS HERE....!
By- A. Jack, MD
Here are a few reminders to get you better
prepared (this is a 5-7 day-preparation process- the saving process is
1.Taxpayers start getting your tax deductible vouchers and receipts in
order according to category ( 1-2 days).
2.Call your mortgage company to see if your statement is available
online prior to 31 January(15-30 min on the phone).
3.If you are a tither at church ask your head Deacon when your financial statements will be available; do you need to pick it up or will it be mailed (this is 15 minutes after Sunday service).
4.Research (2-3 day process)how you would like to have your taxes
*Local FREE services are usually available in the
community-usually for those with a limited income ($30K or less).
*Check Staples, Office Depot, or purchase them online download
to your PC (Turbo Tax, TaxCut and TaxACT).
*Do-it Yourself Income Tax Preparation Services Online(Complete
Tax, H&R Block, Rapid Tax & The Masters Tax Service)
5.Get you tax forms online at www.irs.gov if you are doing them by hand
(1 day- if you do not have access to a computer go to your local library
with $3 in change to use the printer- Cost is usually about $.15 to .30
cents a page).
6.Put some cash aside to purchase from the store and for those of you
that got rid of the credit card (CC)this year you can use paypal (many
online purchases depots use paypal-they can deduct funds right from your
NOTE: If putting aside cash is a problem for the next two weeks (one pay
period)do this two or all of the saving options below...
1. bring a lunch at work...savings $50-80 dollars
2. brew your own coffee at home or bring in your own tea bags
sugar, etc....($10-20 dollars)
3. do not purchase a soda...savings $10-15 dollars
This will save you $115 max or $70 minimum. This is just an estimate of
your possible savings.
If you start now you should be good to go by 20 January 2010.