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It's Tax Time Again
Expert Help for Families By Megan L. Fowler
"If in doubt about a document, put it in the tax folder," he says. "At the end of the year, your tax preparer will help you decide what is important and relevant." The extra few minutes you take each month will save you hours during tax time and will most likely result in tax savings. "If you have not maintained this tax folder, you should have available, at a minimum, your bank statements, brokerage statements and check register, as well as W-2s, 1099s and mortgage statements," Mol石ays. A checklist of tax-related items is located in the FAQ section of the Tax Strategies section at www.weisbergmole.com.
Stay in Control
Nobody loves to do their taxes, and arguments can get a bit heated during stressful situations. But don't take your filing frustrations out on your spouse. "Money is one of the big causes for fighting in families," Pollock says. "I have found couples that plan together and develop mutual goals for their future tend to fight less about their money." The other thing to remember is that it is not "his money" or "her money"; it is "your money," he says. "Respect the contribution that each one makes to the household, and recognize that you need both contributing to make your future what you want it to be."