Oh my, that year rolled around fast! Yes, it IS tax time again. That time of year when I begin the TurboTax process with such great hope and end up hours and hours later wondering why this process has to be so complicated!
Well, now that I have griped I will admit I am done and filed, so there goes another year. Now I can just sit back and cruise for the rest of the year right? Not so fast Cindy! Now is the time to have your plan about what papers to keep throughout the year and what you can safely dispose of.
For tax purposes the IRS says you need to retain receipts and documentation for any deductions or credits you plan to take. After your taxes are filed you need to keep the following for seven years:
Tax Returns, receipts, cancelled checks and records for tax deductions taken – The IRS has 3 years from your filing date to audit your return, if it suspects good faith errors. This also applies to amended returns to claim a refund. The IRS has six years to challenge your return if it thinks you underreported your income by 25 percent or more.
There are several great resources for information on what to keep and for how long. Click HERE to see the information BankRate.com publishes.
The next challenge is to figure out how to keep all these records organized but I think that is for another day. Today I just want to celebrate another year of taxes done! Hooray!
Quote of the Week:
Happenings this Week:
Today through February 28th: The Evergreen Playhouse presents the play Voice of the Prairie: The Laura Ingalls Wilder Story. This American classic focuses on the struggles and victories the Ingalls family experience as they try to craft a life on the American prairie. The play will run February 18th-21st, and 26th-28th. Show times are 8pm Fridays and Saturdays and 2:00pm on Sundays. There will also be a Thursday pay-what-you-can night on February 18th, at 7:30pm. The Evergreen Playhouse is located at 226 West Center Street in Centralia. For more information, call 360-304-9288.
Thursday, February 25th: It’s Potluck night here at Stillwaters. Dinner starts at 6 pm. Bring your favorite dish to share and your plate. Silver, cups and napkins provided. This is a great way to meet new people and enjoy someone elses cooking for a change.
Saturday, February 27th: If you’re interested in learning more about gardening, make sure and attend the Lewis County Master Gardeners class, Gardening for Everyone. The free class will be held on Saturday, February 27th, from 9am-2:30pm, at Washington Hall, at Centralia College. You’ll learn about growing tomatoes, deer resistant landscaping, planning and building raised beds, lawns, and much more. Call 360-740-1216 for more information.
Friday, March 4th and Saturday, March 5th: Safe Family Ministry is having a Huge Garage Sale on Friday and Saturday, March 4th and 5th, from 9am-4pm. This sale will feature glassware, dishes, toys, quilts, children and adult clothes, household items, and much more. Items are priced at a $1 and up. Safe Family Ministry is located at3149 Jackson Highway. Call 360-219-6960 for more information.
Saturday, March 12th: Boy Scouts of America Troop 373 is having its annual Dinner & Auction on Saturday, March 12, at St. John’s Lutheran Church, located at 2190 Jackson Highway, in Chehalis. There are a few different ways you can participate in the event. You can purchase a ticket, make a donation of an item for the auctions, or make a finanical donation. All proceeds benefit scouting here in Lewis County. Call Jon at 360-480-8140 for more information.
There’s some sunshine in our future! The weather report says rain tomorrow and Sunday and partly cloudy. Just remember that’s where the possibility of sunshine comes into the picture.