This episode I talk with Kristine McKinely from OnlineBizTaxTips.com about organizing our taxes NOW for next year. I really enjoyed this call with Kristine -
- Create a system NOW: a folder for 2008 taxes where you can easily insert paperwork related to your taxes.
- Rule of thumb: keep copies of anything you will be deducting, for 7 years. Keep the tax return as well as the back-up for that return.
- If you are NOT deducting things like utility bills or credit card bills, you DO NOT need to keep it.
- If you are deducting things for home office expenses, you must keep them. (Mortgage Interest, Internet, Utilities, Phone Charges, etc.)
- Kristine gave us some fantastic tips a inform and information on how to deal with our money in 2008 as well as some unknown deductions. She even surprised me with a deduction I missed this year!
PS: Sorry for the background noise: my son and dog just didn’t want to cooperate! But if you’re a WAHM, you understand!
Links Mentioned:
Kristine’s Site: OnlineBizTaxTips.com
Quick Books and Quicken Home & Business
Top 5 Partners for this week:
BlissfullyDomestic.com
YummyPLR.com
MommyCommunity.com
ParentingMyTeen.com
MomsLoveShopping.com
[...] Jose Delgado (Siuslaw Bank) wrote an interesting post today onHere’s a quick excerptTax Tips Q&A. This episode I talk with Kristine McKinely from OnlineBizTaxTips.com about organizing our taxes NOW for next year. I really enjoyed this call with Kristine -. – Create a system NOW: a folder for 2008 taxes where you can … [...]