6 Tax Tips for the Apocalypse
As you may or may not know, the tax deadline for 2019 has been extended to 90 days - the new postmark date is July 15th. That being said, it’s never too soon to start thinking about your taxes. Here are my six tips to help you get organized for the looming deadline in the midst of the apocalypse.
Organize your tax information.
Scan it, then burn it for warmth, since it’s not due till summer anyways. 10 extra points if your house goes down in flames and you can claim insurance money. No scanner? Take a mental picture. Live in the moment. You never know when there could be a pandemic.
Hire a CPA.
We all love our CPAs; and let’s face it, as “easy” as Turbotax claims to be, you can’t read or follow instructions to save your life (so definitely not to save your money). Support your local CPAs in this off-season and make sure your delayed taxes get done accurately. Added bonus? Now you have extra time to find one, so you can shop for personality in addition to certifications.
Start an HSA.
No one actually knows what this is, but now that you have an extra 90 days to do it, you might as well. Besides, the H stands for healthcare, and who couldn’t use a few extra bucks for healthcare in the middle of a respiratory crisis?
Open a savings account.
No idea what this has to do with taxes, but it seems like a good idea. And don’t worry - you don’t actually have to put anything in your savings account - just keep that room empty in case you need a place to hide when the government attacks.
Know what types of taxes there are.
Yes, emotional labor is taxed. No, you can’t pre-pay online.
Know what you can deduct, especially if you’re a freelancer.
I have decided that the following were purchases entirely necessary to my business:
1 extra bottle of Nars Radiant Creamy Concealer, bought to cover up the bags under my eyes that are a direct result of pandemic-induced sleeplessness - $30.00
1 ice pack, bought to treat the bruises received while attempting to purchase toilet paper - $7.99
18th pair of pajamas, bought because what, you think I work from home naked? - $50.00
1 3-pack box of tissues, bought to compensate for lack of toilet paper - $5.00
Tax season can be difficult to navigate, especially in uncertain times like these! Get ahead by acting now, and don’t get caught unprepared in July.