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Easy-Breezy Stress-Free Tax Filing

It’s tax time and you may be feeling a little frazzled. It can be overwhelming to deal with all the documentation needed just to file and make sure that you/your tax people have everything they need. I may not be able to help you with your 2010 issues but I can get you on your way to have a better 2011.

Organization is absolute key! Without it – you could lose a lot of money! So let’s start there.

What can you do all year long that’s easy, fast and simple to sort your receipts and paperwork? Multicolored File folders or Multicolored tabs on an accordion file. Color coding is a simple and fast way to sort without thinking or accidentally putting the receipt in the wrong spot.

At the end of the year, print out a Profit & Loss Report and a Statement Report for each client. This is something that can help you to reflect on what’s going on and how you can improve the financial aspect of the company. You can back date this so starting with 12/31/2010 is a good way to start the 2011 year with eyes wide open and make adjustments to protect your assets this year. Store these papers in the same file folder above. It could come in very handy. Make notes on them throughout the year as necessary – such as when a client finally paid on old debt, when you sent it to collections or what not. Yes, this information is probably always available to you in your accounting program but this way its right at your fingertips and if your program isn’t working right at the moment, no problem.

If you have children that deal with two homes, make sure you articulate with the other parent about the details of who is going to claim the child as a dependent. Both claiming a child on their taxes can lead someone into an audit. So make sure you are both clear on what is going on here. Once one of the parents has officially filed their taxes, that particular parent should remind the other parent that they have already filed and claimed the child or not. I’ve heard of a situation where both parents thought the other was claiming and neither did.

Stickers are a great way to signify what you have done on a particular tax year for easy reference later on. For instance, if you claim a house on one year, put a house sticker on your copy of your filed taxes. Childcare? A Baby or child. Inheritance or lottery? A dollar. Autos? Car. Major renovations? A hammer. You get the idea.

Dedicating a shelf/drawer to only your year-end needs is another great way to know where the necessities are when you need them.

Humans work best on visual queue’s, so finding ways to make things easier to deal with by sight will make your organization a breeze. Find what works for you and stick with it so it becomes embedded into your routine thus becoming quicker at organizing.

Angi of Lost in Office Space
lostinofficespace@yahoo.com

Where to start?

One of the first issues I see with companies when I go in or discuss problems they are having is how much they can gain just from restructuring and organizing. Accomplishing this task alone can help a company do so much more and save loads of time, thus keeping more money in their pockets.

If you feel this is your company or are just starting, concentrate on this area of your company. To really get your company to its most optimum level is to look at what needs doing/changing, where one can do better and putting things in its proper place. By doing so you can help alleviate time in looking for materials or papers, you can concentrate on areas that need more time and attention, possibly get support to help in an area that could be better suited for another employee or assistant … and the list goes on and on. I cannot stress how important it is to get this up to par in order to get to where you want to be in your company.

You can start by doing a pro/con list. Take the time to sit down and write down what is working and what is not, where you and your company excel and where you/it needs help. This will give you a picture of what should be done, what you need to do and where to concentrate your time and funds.

When the list is complete, think about how you can solve the issues. If you must, ask for help! No shame in that! In fact, it will make you a better company by doing so, a stronger company!

Find a successful entrepreneur to mentor you who can inspire, support and turn you in the right direction. Make some friends in the business, maybe not your competitors but someone in a similar business. They can be a world of comfort and support when you need them, maybe even when you think you don’t. Reach out to networking groups in your area – here you can tap into a little community that can really push you forth into entrepreneurship. This has been a wonderful outlet for myself and the main area where I have met some amazing people.

Lastly, don’t be afraid to reach out to retirees, librarians that work the business sector and your local SCORE! Knowledge oozes out of these resources and can reduce over pedaling in your business.

Good luck to you and if you need me, I am here for you!

Angi of Lost in Office Space
lostinofficespace@yahoo.com

The Journey Begins

I spent the last 25 years of my life giving advice on women’s health; I loved it, but it took away from the rest of my being, hiding the rest of myself from the world. I finally hung up the towel on that aspect of my life and decided to focus more on women in business and my company. Now that I have all this extra time on my hands, I decided to give this blogging a try.

So I ask that you bare with me on this new adventure. Give me time to learn and grow. Forgive any missteps that are sure to come. I will do my best to be informative, helpful and adventurous.

Working for my past employers definitely was a necessary adventure to get to where I am today. I truly appreciate all of my experiences – the good and the bad – helping to mold me into the woman presented to you today. It was this train of thought that actually helped to inspire my company. I got to thinking, why should just one company get to benefit from all I have learned and what can I do to help others? Viola – Lost in Office Space was born.

In the year I have been an entrepreneur, I have met some amazing people along the way. I have a great mentor, Phoebe Browning of feeBee LLC, who has also followed an amazing path. She has been a true inspiration and I have learned quite a bit from her.  She’s amazing!

From my knowledge I bring to you support and ideas. Hope you stick around and feel free to send me any tips you feel I need or should write about! You’ll get the credit, I assure you.

Angi of Lost in Office Space
lostinofficespace@yahoo.com