Year Round Naperville Tax Preparation

Year-round Naperville Tax Preparation

Every once in a rare while, it seems as though laws actually have some logical, common sense basis. Maybe the legislators who designed them are even something like me! Obviously the tax code has been written for procrastinators: we’re allowed to contribute to IRA’s beyond December 31st and still count them for the previous year; the nearby Naperville Post Office remains open until midnight on April 15th.

Unfortunately, this stretching of time frames doesn’t help cure my procrastination. It’s kind of like setting all my watches ahead 5 minutes in an effort to be more timely. For a while I’m pleasantly surprised that I’m not running as late as I thought, but soon I begin to depend upon that extra time, figuring it into my optimistic estimations of how long it will take me to get ready or to drive somewhere.

What I ought to develop in my daily habits is actually allowing sufficient time rather than tricking myself. I should make a more structured change to my tax habits as well, and plan for my Naperville income tax throughout the year rather than just in April. In fact, looking at my finances only as tax day approaches means I really don’t have time to consider them thoroughly. I’m more likely to simply stay with the status quo.

However, if I sit down with my Naperville accountant on a more regular basis, I can make adjustments that will make April 15th less fraught and perhaps less costly. Investments should be reviewed on a regular basis as industries change, as the stock market fluctuates, as I near retirement and as my situation in life goes through stages. I can be making better choices about my budget and expenditures, if I bear in mind the tax regulations as they relate to my income level.

Granted, my procrastinating nature can be difficult to overcome. But I have tremendous incentive when it comes to tax strategies: keeping more of my hard-earned money in my own pocket. True, the tax laws allow me to postpone all my planning until April 14th if I wish. But the tax laws also allow me to forgo itemizing deductions, thus paying more to Uncle Sam. That may be logical to legislators, but it’s not a very common-sense way to plan my personal budget.