Save
Time and $$$$ As You Move from 2006 to 2007
Hot
Freezables
By Dorie Greenspan
AARP Magazine November & December 2006
We
know you don’t have time to bake elaborate desserts during the
holiday rush. But what if we told you that some scrumptious sweets
can be made ahead and frozen—and no one would ever be able to taste
or see the difference? Yum. For the complete article visit
www.aarpmagazine.org/food/hotfreezables.html.
Looking
for Gift Ideas
If
you know someone that has always wanted to get organized, that has a
closet full of clutter, or piles of files, the perfect gift might
just be an Organization Plus
Gift Certificate.
Place your order by December 23rd and it can
be emailed to you or the recipient.
Many
people do not know how to begin to file their personal papers. It's
one of the biggest challenges I find with people who invest in my
3 Hour Transformation.
Give
them a
Homefile System and it can solve this problem and simplify their life.
Year
End Tax Points to Ponder
Now
is the time to check with your accountant on how you can save money
on your 2006 taxes.
Julia F. Tiernan,
a Certified Public Account (CPA),
with a practice in Peabody, MA, suggests a few Year End Tax Points to
Ponder:
Be
sure that you have contributed as much as possible to retirement
accounts. Most require the contribution prior to December 31. If you
are self-employed and do not have a retirement account, talked to
your accountant or investment advisor prior to 12/31/06. Certain
types of plans must be set up prior to 12/31 – even if they can be
funded later.
If
you itemize deductions, it is usually better to pay your 4th quarter
state estimated tax payment prior to 12/31.
Make
charitable contributions in either cash or property. Be sure to get
appropriate receipts.
If
you are a cash basis business, look at paying bills before December
31 and deferring income to reduce 2006 taxes. Income can be deferred
by sending out invoices later than usual so that customers will pay
in January. It is not legal to hold checks that you have received in
2006, deposit them in January and then claim them as 2007 income.
Review investment accounts and consider selling loosing investments.
You can use those losses to offset other gains or up to $3,000 can
be used to offset other income.
Purchase equipment that you need prior to December 31. It must be
actually placed in service, not just paid for. For example, you
purchase a new computer on your credit card in December, but it is
delivered in January. That means that it is placed in service in
January and a 2007 deduction.
Disclaimer: These are general suggestions and should be discussed
with your tax preparer to determine what is right for you.
Thank you Julia for sharing these Year End Tax Points to Ponder.
Planning a Trip?
Don’t get caught short without your passport.
New
U.S. Passport requirement as of January 23, 2007. Nearly all air
travelers entering the U.S. will be required to show passports,
including returning Americans and people from Canada and other
nations in the Western Hemisphere.
This
requirement marks a change for Americans, Canadians, Bermudans, and
some Mexicans.
If
you get caught short without a passport, expedited service is an
additional $60.00.
Remember you need to submit 2 passport photos, taken within the last
6 months with your application.
For
more information click on:
www.travel.state.gov/passport.
Clearing Away the Holiday Clutter
Purchasing organizing products for your Christmas ornaments and
decorations will save you time and money. Containers to store
ornaments have dividers to protect each ornament. When storing
decorations label the container with a list of the contents. Label
It Now makes self adhesive labels, that come with a card that is
inserted in a transparent pocket. When you change the contents,
simply insert a new card. This eliminates the mess of
crossed out markers and labels that are stuck forever. Store items
for each holiday together so that you know exactly what you have
on hand. These new organizing products will save you time and money.
Are
your holiday cards sitting in a straw basket or sitting on your
mantle? Decide what you are going to do with them. Some people only
keep the ones with photos in them. Are you saving the envelopes to
update your address book or database? Put them in a folder so that
they are all together. Most people wait until they have time to
enter the updates all at once. It may be more practical to enter a few at a time. If you prefer
an address book to a database, and are tired of looking at your messy
book, consider a Flexaddress system. It is an address book with labels that peel off
when you need to update the information.
Pack
away holiday gift wrap.
Are
your gifts still sitting in the boxes that they came in? Put them
away and free yourself of the clutter. Less mess, less stress.
Put
the gift certificates that you received in a convenient place so
that you will remember
that you got them. When I suggest that someone has an action file
for their mail and communications, we often create a folder labeled
Gift Certificates.
Chances are your mail has piled up while you were enjoying the
holidays or on vacation.
When processing your mail remember don’t just throw away unopened
credit card applications and cash reserve checks, shred them. Toss
out any mail regarding events or
sales that have already happened. Be sure to save any charitable
donation acknowledgements in a 2006 income tax folder.
Best
wishes for a happy, healthy, and peaceful New Year.
January is GO Month
Watch for our January Newsletter for details.
Thank you for subscribing to my newsletter.
Please feel free to forward it to a friend, family member, or
associate.
Best
regards,
Nancy Black
Organization Plus
Home of the Three Hour Transformation
Transform Your Life In Only Three Hours !!
Turn Piles Into Files !!
Free Up More Time For Other Activities !!
http://www.organizationplus.com
Serving the Greater Boston and North Shore
Call To Arrange Your Free Initial Consultation: (978) 922-6136
©
Copyright 2006. Nancy
Black, Organization Plus.
