Get ready for tax season early!

Groan, ugh, not tax season again?? Why do we need to talk about this now?? Well, for one, who wants to have to race around collecting everything and then get to the appointment with the accountant only to realize that you are missing things? You can start organizing your tax folder now so that all you have to do is put the correct W-2s and other statements in the folder as you get them! I would start out with an accordian folder and label the little tabs with different categories, ie. job, mortgage, student loans, Roth IRA, IRA, mutual funds, TSP, etc. Put in each folder a piece of paper that briefly describes what each one is so that you can better remember as the statements start rolling in. Call as soon as you are able to make an appointment. For those in the military, we have free access to the tax center on post so please utilize it! For Fort Hood gals, we have a great Legal Assistance place on post, and the woman will do your taxes for free as well. Save all major purchase receipts, tax write-offs (say if you donated something), any amounts that you gave to charity, etc. If you think of filing your taxes as a process then you won't be so overwhelmed when the time comes.

**Please, please, PLEASE, check your tax exemptions that you are filing. So many people just claim one, or zero, even if they are married and have kids! I know that it feels good to get that money all at once when you get your tax refund but why do you want to give Uncle Sam an interest free loan? Why not change your exemption and contribute to the Thrift Savings Plan where they take your pre-tax dollars thus reducing your tax liability? www.tsp.gov Or, if you work in the civilian sector, and your company has a 401 (k) plan then max the amount that you need to so that the company matches your contribution!**