Home News Livestock Crops Markets Hay, Range & Pasture Home & Family Classifieds Resources This Week's Journal
Commerical Hay Equipment For The Farm
Agro-Culture Liquid Fertilizer

Farm Survey

Journal Getaways

Reader Comment:
by Greater Franklin County

"Thanks for picking up the story about our Buy One Product Local campaign --- we're"....Read the story...
Join other discussions.

Organizing papers for taxes

Key papers for income tax should be arriving soon. Now is the time to set up a system to organize those papers. Having papers organized will make the process easier and quicker whether you figure your own taxes or pay a professional to prepare your return. The IRS does not require you to keep your records in a particular way. Choose a system that you will use, and that will support items reported on your tax return.

Southeast Area (Colorado) Extension Agent Kaye Kasza says, "Organizing doesn't have to be a high-tech, months-long project. Buy an accordion folder and use each section to store documents for a different category." An Income section would include W-2 forms from jobs; and Form 1099s for consulting and freelance work. An Expenses or Deductions section would hold expenses from rental properties; property taxes; mortgage interest; business and job expenses; and charitable contributions.

When you're ready to do your tax return, tally up the receipts from each folder section and enter in the correct place in your tax return. Keep a copy of your completed return with the supporting paperwork.

Employers, brokerages, and other companies generally must make available all tax information by Jan. 31; a law passed last year gives brokerages another two weeks to distribute some forms. Follow-up with the company if you don't have the form by mid-February. Give yourself at least two weeks to find missing papers, or research tax questions.

Volunteers in Tax Assistance offers free tax help to low- to moderate-income (generally, $49,000 and below) people who cannot prepare their own tax returns. To locate the nearest VITA site, call 800-906-9887 or check the website www.irs.gov/individuals/article/0,,id=107626,00.html.

Web hpj.com

Copyright 1995-2014.  High Plains Publishers, Inc.  All rights reserved.  Any republishing of these pages, including electronic reproduction of the editorial archives or classified advertising, is strictly prohibited. If you have questions or comments you can reach us at
High Plains Journal 1500 E. Wyatt Earp Blvd., P.O. Box 760, Dodge City, KS 67801 or call 1-800-452-7171. Email: webmaster@hpj.com


Archives Search

NCBA Convention

United Sorghum Checkoff Program

Inside Futures

Editorial Archives

Browse Archives