It’s tax season!!!
This is a time of year that many people dread. But for my wife and I, it’s something we look forward to year after year. We just love watching Turbo Tax tally up our return and then watching it drop in our checking account.
This year is an especially pivotal year for us. 2015 was the first year that I really stepped out with my freelance writing business following 10 years of working full-time in the journalism field.
Amazingly, I did really well in 2015! My wife, also, excelled in her career and business coaching business!
The 2015 tax season, then, is a time for us to reflect on the fruits of our labor. But it also is giving us new perspective on how important it is to keep each and every receipt, especially those that are business expenses.
Something as simple as the purchase of a latte at your favorite coffee shop, while visiting with a business client, is worthy of a tax deduction. And all those miles you drive and all those oil changes you make, keep a record of that, too.
A lesson my wife and I learned this tax season is that moving forward it behooves us to keep all receipts.
If you’re self-employed, make sure to keep your receipts. Throw them in a shoe box and they’ll be ready for you come tax season. And then celebrate when you watch your big return hit the checking account!