Summer break

Summer break: some of us get one and others do not. The summer season is often unique as students and (some) teachers are at home. Summer is a time for family vacations and perhaps a less structured lifestyle.

What does this have to do with taxes? If you find yourself with more flexible time in the summer use that time to prepare for 2012 taxes. Cleaning out closets or the garage? Keep a good list of the items you are donating to charity. (Better yet, let the kids do it).

If business, charitable or other tax receipts are stuck in drawers or bags, consider sorting them into an accordion file so that you can stay organized until year end. That will make the stressful activity of gathering your tax information so much easier.

Don’t forget combining business with pleasure. If you have a business trip coming up to a fun venue, ask us (or your accountant) how to organize the trip for the maximum business deduction, while avoiding tax pitfalls.

Enjoy the summer!

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