Make the most of year-end credit card statement at tax time

first_imgOf all the documents you shuffle as you get your tax return ready, keep an eye out for one from your credit card company. Year-end credit card statements from 2015 can cut your tax-time workload and help you ferret out deductible expenses. And if you’re always wondering where the money went, they can help you get a handle on what your spending was really like over the past year.Here are ways to make the most of these statements.Find tax-deductible expensesEven if you hire a professional to do your tax return, there can still be a lot of drudge work on your part. Going through 12 months’ worth of receipts and credit card statements to find out what you spent, and where, can take hours. Year-end statements that categorize your spending are much more efficient. Looking for medical expenses? Moving expenses? Job-hunting expenses? Or just want to jog your memory? Check the relevant sections of your year-end statement.If you do most of your spending on a single card or a few cards, the statements become that much more valuable. But most people will still have to look in multiple places to find every tax-deductible expense. continue reading » 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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