December 15, 2020
It’s probably fair to say that most of us can’t wait to see 2020 out the door. But there’s one more task to carry out before you can wave goodbye to The Year We’d Rather Forget: Be ready to file your taxes.
With changes to the tax code for 2021—many because of the COVID-19 pandemic—now is the time to get your tax season ducks in a row while you have the luxury of time to do it. Here are some tips to be sure you’re ready:
Sure, it might feel early to be thinking about taxes when we’re still in the holiday season, but just think of how nice it will be not to have to scramble or get hit with unwelcome surprises on Tax Day.
Most professions have their own lingo, and accounting is no different. What is different is that you have a vested interest in understanding what your accountant tells you about your financial situation. So, here’s a quick primer on common accounting terms—some business-related, some general—to keep you in the know:
There has rarely been a winter when we so badly needed to see (and feel) spring. Depending on where you live, this could mean bluer skies, warmer temperatures, time outside and…gardening! For those who live in a climate where spring doesn’t always mean it’s warm enough to garden outdoors, consider creating an indoor planting box for flowers, veggies, herbs or all of the above.
While “under a blanket on a cold winter day” isn’t the worst place to work, it’s a good idea to regularly assess your remote working environment—especially if you don’t have a full home office setup—to decide if anything needs an adjustment or upgrade. Here are four important points to consider: