The Tax Man Cometh

[Calypso]

Every year I have hundreds of expenses I could use for deductions, but every year I forget to keep track of what I've spent on health care, building my writing business, etc., so I don't itemize and I end up paying a lot more in taxes than I really owe. This year, I'm turning over a new leaf. I have an emptry drawer where I'm going to put all my applicable sales receipts, doctor's office receipts, pharmacy receipts, etc. I'm not even going to look at the. The minute I walk through the door, into the drawer they go. Next year when I have my taxes done, I may finally be able to itemize and save the money I'm supposed to. Yea!

[SageMother]

That sounds like a great idea. My husband an I just take the standard deduction for now because it works well and we feel less likely to be audited by doing so. I would imagine that if they were to attmept to audit us based on that information they might actually find they need to pay us more money back. I figure that in about 3 years we might throw an amendment or two in for things that ren't too questionable.

[moonmagick]

I have never kept track of those things either. But now that my son has been born, I plan on keeping all of those things this year. Because there has definitely been a major increase in doctor appointments and prescriptions and the like.