Tuesday, April 3, 2012

The Tax Man Cometh

So, we all know that the deadline for filing our federal and state income taxes is just around the corner, but this year we actually have until Tuesday, April 17th.  The reason?  Well April 15th in 2012 is on a Sunday and April 16th, which would be the next date set by the IRS, falls on Emancipation Day in the District of Columbia and apparently we just don't mix the two so we have until Tuesday, April 17th this year.

The problem is that those extra two days may help in the short run, but in the long run if you're a procrastinator it just drags out the inevitable pain of filing taxes.  The key is keeping good tax records year long and then taking the time to sit down and correlate your writing income and expenses with your federal and state income tax returns.

The leading income tax preparation software makes filing your taxes from home so much easier than it has ever been BUT you still have to keep records and receipts and know how to enter this information into the program.

So, after you feel that relief from filing your taxes this year, take some time to sit down and figure out what you'll do starting today to ensure that you have all your writing income and expenses well documented before the next tax filing season.  After all, since we have an extra two days this year, it means we have two days less to focus on the current tax year.

4 comments:

Terry said...

Well, Patriot's Day is the third Monday in April every year, but it is only celebrated in Massachusetts and Maine and Wisconsin. Maine was long a territory of Massachusetts, and though I'm not sure why Wisconsin joins us in celebrating the shot heard round the world and Boston's role in the American Revolution, I'm happy they do. Longfellow's poem and the Boston Marathon are favorites that Monday as well. I didn't know about Washington DC's holiday, but ours has been around for a few hundred years!

Morgan Mandel said...

Waiting to here the damages from the accountant!

Morgan Mandel
http://morganmandel.blogspot.com

academia-research.com said...

Thanks, I'll know

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