Mailboxes everywhere are starting to contain important documents that will be needed for tax filing. Don't get caught in the disorganized trap of having to search for misplaced documents that will only add to the stress of filling out your taxes. Check out these helpful tips and get a jump-start on being organized this tax-filing season.
Organizing and Preparing
Do you have a place where you open your mail on regular basis? If so, purchase a
Portable File Box that you can place in that area so that you can immediately file incoming tax documents preventing them from being misplaced. This will also make it convenient for transporting documents should you have your returns prepared outside the home. Set up tabs to help easily sort and identify documents when preparing this year's return.
The following are some basic categories to consider or check out your 1040 form from last year and setup categories based on items that applied to you. It's also a good idea to have last year's return easily accessible when completing this year's return to make sure you don't over look something.
- W-2s
- 1099s, income and dividends
- Vehicle information
- Mortgage and bank interest statements
- Real estate tax documents
- Medical expense receipts
- Receipts for charitable donations
- Child care expenses
- Student loan documents
Year-Round Storage Options
File Carts are a year round solution for organizing all your household documents for income receipts, expenses and miscellaneous documents. These multi-functional carts offer deep drawers that accommodate letter size hanging folders making sorting and storing easy. Smaller drawers can be used to keep your checkbook, calculator, writing materials and more, neatly organized and easily accessible.
Book Some Time
If you have your taxes prepared outside the home it is a good idea to call your tax preparer and book your appointment with them for sometime in February. You will not only get in before the rush but may be a lucky one to score an early refund return, or if you are one of the ones that will have to pay into the IRS you will have a few extra weeks to determine your plan for making that extra payment you may not have expected.
History Of the Past
Tax guidelines recommend that you keep all your tax returns as well as six years' worth of receipts in case you are audited. Start by gathering all your past returns and receipts and organize them by year. You can then opt to store them in either a
File Crate or
File Box which will help centralize these documents for future reference. Both Crates and File Boxes can easily be stacked, helping to maximize space in a closet or on a shelf. We recommend that labels be applied with the tax year on the outside to make locating documents even easier. This will also help you identify documents when the time comes to purge items that are dated or no longer needed.
By taking these simple extra steps you will reduce the stress in filing your taxes, while eliminating clutter around your home or office. Be sure to send us any other helpful tips you come across or items you recommend for making tax time easier.
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