Self-Employed? 3 Ways to Get Ahead of Next Year's Taxes

Tax time is, for many, one of the most stressful times of the year. But if you sit back and relax completely after filing your annuals, this may be part of the problem. In order to reduce stress at tax time, it’s important to prep ahead – especially if you spent the two weeks leading up to your filing date scrounging through receipts, guessing at your driving miles and crossing your fingers for the right deductions. If this accurately depicts you, it may be time to update your finance management. In addition to relieving stress, you will also reduce your audit rate, and open up more free time to spend with clients.

Below are a handful of suggestions to help you prep for next year’s tax season.

Go digital with receipts. Gone are the days of paper receipts – or, at least, they should be gone. If you’re keeping hard copies of your expenses and manually logging them into a spreadsheet, you’re wasting time, and leaving room for error. Like most things nowadays, there’s an app for that. Using QuickBooks Self-Employed, you can connect your bank account or credit card and auto file all your expenses in one place. You can also snap a photo of receipts to match with a correlating expense.

Automate those miles. Every single turn of the wheel that you make for your business is tax-deductible, but you need to properly record it in order for the miles to be eligible. Writing down miles manually only to enter them into a spreadsheet later is a waste of time, and a call for errors. Instead, get an app that will automatically track your trips for you. Many of these apps will auto start when you begin driving. When your drive is over, the app will prompt you to categorize the trip as personal or business, and some will show how much money in deductions you’ll get per trip.

Do your quarterlies. To stay on top of your annual taxes, you should also stay on top of your quarterlies. The easiest way to do this is to keep your income and expenses up-to-date in your accounting software, which will estimate your quarterly taxes for you.

By staying financially organized year-round, taxes should be a breeze next year.

Breaking Down the Pool Building Process

Having a pool can be one of the most enjoyable things about being a homeowner. It offers exercise for the family, a great place for entertaining and added value to your property.

But be prepared to open your wallet, as the average cost of building an in-ground pool is around $40,000. Before you get ready to hire a contractor and build, consider these tips from industry experts to help ensure you get exactly what you want and save a few bucks in the process:

Think about timing. The desire to build a pool may hit you when the weather is hot, but you’ll save big if you start construction at the end of the season when builders are looking for work. You’ll get a better price, and maybe a better-built pool, because the builder is much less busy.

Get several bids. Get referrals from friends and neighbors, and at least three bids from competing companies—even if they are referrals—before deciding who’s going to build your pool.

Think long-term. Experience shows that concrete or gunite pools are about the same in cost as fiberglass pools. But about a decade after installation, the concrete or gunite may need to be re-shot, and salt chlorinators may hasten that need as they are more abrasive than regular chlorine. If you do choose concrete, spending a little more upfront for a Pebble Tech surface may be more cost-efficient in the long run.

Stay with a simple design. The more curves, steps, shelves and other design add-ons you choose, the higher the cost will be—and that’s before you add the cost of glamorous options such as a spa, a waterfall or an infinity edge. The same is true for exotic tiles and finishes, as well as upscale decking materials. The more you add, the higher your final bill will be.

Wait on the heater. Some experts advise not putting in a pool heater until a year after construction. Your first season as a pool owner will let you know what your pool’s average temperature will be, and whether or not you need a heater at all.

Kitchen Trends That Are Going Out of Fashion

Most of us spend a lot of time in the kitchen, preparing meals and cleaning up. In many cases, we spend so much time in our familiar kitchen space that we don’t pay much attention to what it looks like.

But the trends, they are a-changin’. Today’s kitchens are sleek and practical. Design experts list seven kitchen looks that are quickly going out of style:

Short backsplashes. Backsplashes that reach up to six to eight inches above the countertop are sorely outdated. If you’re up for a remodel, take the backsplash all the way up to the upper cabinets to make your kitchen feel bigger and cleaner. 

Distressed wood cabinets. Once the darling of country-style kitchens, the clunky distressed wood of yesteryear is giving way to natural wood or white finishes.

Over the stove microwaves. When microwaves came into fashion, homeowners put them over the stove to save counter space. But today’s families want necessities accessible for the entire family. Some are redesigning cabinets to move the microwave into an under-counter nook where smaller family members can reach it. 

Top-of-cabinet décor. Gone are the days of filling the space between the tops of your cabinets and the ceiling with dusty accessories like artificial flowers or greenery. Removing them from above the cabinets gives the room a more open feel.

Hanging pots and pans. Once, every kitchen shown in a magazine had a big, beautiful, hanging rack filled with copper or stainless-steel pots and pans. Kitchen designers today are making room for them in drawers or cabinet, trading in that outdated country look for cleaner, minimalist lines. 

Anything but stainless steel. Over the years, kitchen appliances have gone from white to copper to avocado green and back again. But the desired look today is the cool, sleek look of stainless steel.

Kitchen desks. At one point in time, every upscale kitchen featured desk space—a little nook where you could scan the mail, pay bills, etc. But those mess-collectors are now yesterday’s news. Moving desk chores to another room can give your kitchen extra space and alternative storage options.

Getting Creative With Your Wall Space

Do you have a blank wall with no idea what to put on it? Rethink the boring family photo with these interesting ideas.

Get wordy. Whether you’re a logophile or are just looking to amp up the playful vibe of your space, adding large text to your wall can be innovative and inspirational. You can purchase a variety of word hangings online, or create your own with stencils for a literal conversation starter right on your own wall.

Create a mirror collage. We all know a mirror on the wall can open up a room and throw lots of luscious light. But by using many smaller mirrors to create a pattern or design, you can add the benefit of a unique, boho vibe. Choose mirrors in various shapes or with different frames.

Hang a rug. Remember the old tapestries of your dorm room? Hanging a nice, well-made floor rug on the wall is the adult version of this decorating phenomenon. Whether you want a bold color pop or a bright design, pick a blank wall and go wild.

Vertical plants. Snag some aesthetically pleasing wall planters or sconces and create a botanical masterpiece by popping in your favorite succulents or hanging plants.