Seeking: Tracker, Excel, App, Google spreadsheet, to make it easier at tax time.

[TaxLu]

Hi all,
I am currently using Excel spreadsheet to track everything. I have column headings, and each year create a new tab. Still having a bit of trouble at the end of the year.   Can someone PLEASE share a spreadsheet they created, website, phone app, or any feedback to help improve my tracking?  I'm not looking for a costly monthly subscription, looking for simple yet effective.

Thank you!

[tagteam · Accepted solution]

Exactly, what are you tracking with Excel? 

There are a plethora of templates for Excel, but they typically seem to target a specific set of circumstances. For example, there are small business templates to track sales, costs of labor, inventory, etc. There are also templates designed to track investment portfolios. I use one to track rental income and expenses. However, I have yet to come across a template that combines all of the aforementioned.

Have you tried an internet search?

[VolvoGirl]

Yes, what are you tracking?  I use Quicken.  Actually an old version of Quicken so I don't pay for any subscription but I have to enter everything manually.  I even use it for a self employment business to track income and expenses.  And to keep track of my quarterly estimated payments.  

I would think you only need to track itemized deductions like Charity and Medical if you have more deductions than the Standard Deduction.  But more people take the Standard Deduction now since it has been increased.  Other than that you just enter most of your tax info from the W2 and 1099s you get.  

[fanfare]

a) use desktop tax software that supports more than one tax return.

b) start a second tax return, call it "2023 TRIAL tax return"

c) enter your expected 2023 tax-related data from time to time. you will get an evolving estimate of your tax refund or amount you owe. In spite of new laws or standard amounts that go up by inflation, it will be close enough.

@TaxLu