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Top tips for tax time!

Top tips for tax time!

If you're anything like me, tax time is NOT a peaceful time.

Is this image anything like you at the end of the financial year? *pulls hair out*

I try to stay on top of things on a daily basis so that at the end of every quarter- or worse- every financial year. 

So, I have decided to compile a few of my tips to make tax time a little easier on you.

Please note; I am far from an expert- these are just my tips of how I keep my sanity in what can be a very stressful time! 

  • Make large work small by managing the receipts and data entry weekly, or better yet- daily. 
  • Use an app to collate your receipts so that you don't run the risk of them fading or having to store and file them. 
  • Keep a car log book, you may not even realise how much you use your car for work purposes! 
  • Take advantage of yearly payments on things (Like insurances) so that you don't have to log every months payments, it usually means a bigger discount too. 
  • Set up accounts with companies you use regularly so that you only get issued one statement- again, meaning only 1 data entry to log. 
  • Set aside a time every week just for 'tax' purposes- whether that be 9am on a Friday, to ensure you are not behind and always chasing your tale.
  • Last but not least, invest in a good accountant who can not only assist in bringing your tax down but also teach you along the way! 

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