Reduce Your Stress - Taxing Details - 11/06/09
                                         

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How do you deal with stress? According to an article we found, some of the top 50 ways to relieve stress include breathing, watching aquarium fish, or decoding a cryptogram puzzle. They're right! Our brief studies confirm that holding one's breath for more than 10 - 15 seconds is very stressful.

In addition to watching Nemo, the IRS claims that keeping good records is a great way to reduce stress at tax time.

They recommend that you should usually keep records supporting items on your tax returns for at least three years including bills, credits cards and other receipts, invoices, mileage logs, and any other records to support deductions or credits you claim on your return.

In addition, keep records relating to property until at least three years after you sell or otherwise dispose of the property. Examples include:

  • A home purchase or improvement
  • Stocks and other investments
  • Individual Retirement Arrangement transactions
  • Rental property records

And don't worry, if you're still stressed after doing all this, you can always try decoding IRS instructions!



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