Tax Time and Stress

sound tax advice, tax preparation, financial adviceThis is a stressful time of the year in the CPA/Tax Accountant Business. We meet with some clients whom we haven’t seen in almost a year, and while there are those clients who are always meticulous with their receipts and their records, most are not as well prepared.

Business Taxes are one thing, and Personal Taxes are another. In the Business Tax Preparation, if our client is using a decent book keeping software, their financial numbers are usually easier to put together. Some of those same Business clients, however, are not so careful with their personal book keeping, and that can become quite the challenge.

In most marriages there is on partner who is very organized, careful with their money, and another who is more of a free spirit. This is the time of year when those difference really become an issue, more that any other. It is always best to check in on finances throughout the year, so that when March comes, you both have an understanding, and perhaps you can leave the blaming out, and just work on figuring out where your receipts are.

WebMd had some great hints for people who are experiencing a high degree of stress around tax time:

“Stress-Relieving Tips

Here with, a few tips for stressed-out taxpayers:

  • To avoid last-minute stress, file early and break up the job into little pieces, Mellan suggests. Do your taxes while listening to music or whatever else makes you feel relaxed.
  • For filers with math anxiety, Mellan recommends hiring a preparer or investing in tax software. Tax software typically collects information through an “interview” and the computer does all the calculations.
  • Fractious couples should strategize on ways to avoid chronic money fights, Mellan says. For example, try communicating financial information through notes or other modes that won’t carry an accusatory tone.
  • McCall suggests channeling tax-time stress into a resolution to track your finances more carefully. Better money management is the best way to avoid unpleasant surprises each year, she says.”

At McCain and Samons we understand that Tax Time can be stressful for some, and we do our best to keep the stress away. We sort through all papers, all the rules and regulations, and get it all done for you, and we do it properly.

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