This year is all about saving money every day while trying to increase your income potential. If you did one thing each day that could save as little as $5 over the course of a year, you could have an extra $1800 in your pocket at the end of the year. Not all of these tips may apply to you, so to keep it fair, not all of them will apply to me.
Okay, so this tip is DEFINITELY NOT for everyone. I am apparently a slightly masochistic individual who enjoys reading the IRS website. Our taxes just aren’t that difficult. We don’t itemize, and even though my husband and I each have our own businesses, the forms are very simple. How do I make it work?
Mainly, I compile my tax information quarterly. This includes putting together my receipts and mileage for expenses. If you have a business and need to make estimated tax payments, this is a necessity anyway.
Secondly, I don’t really need to be nervous because we don’t make enough to be massively penalized. Our gross income combined is less than $40,000.
If you are facing anything over a 1040EZ and working with numbers is not what you do for a living (or you just lack the masochistic tendencies to read through the yearly tax updates), you might want to consider having a tax preparer look through your paperwork.
We can’t justify paying $160 to someone else for something I can do.
365 Days of Saving Money: $2195 Annually (Running Total)