It's here (...drum roll...) tax day! Are you calm and cool -- confident that your books are in order? Or are you scrambling to have your accountant file an EXTENSION? People act as though tax day is the end of the world. And while we all have our opinions about the government's right to our money, the LOGISTICS of filing a tax return don't have to send you into a tailspin. It actually takes less time to prepare your taxes if you stay on top of it throughout the year -- rather than sorting through boxes of receipts each April. This month, we offer you some practical tips for getting your paperwork organized in time for filing NEXT year's return!
Set up a file drawer for your financial papers -- with one FOLDER for each account, type of income, category of expense, or deduction. Computerized accounting programs are also great for their reporting and analysis capabilities.
Set aside regular time to UPDATE your accounts -- pay bills, file paperwork, reconcile accounts, and track your financial activity in an account ledger or bookkeeping program. Make it weekly or monthly -- once every six months isn't good enough!
Keep your tax returns FOREVER -- you can be required to produce these at any point. But you can shred your supporting documents 6 years after the return is filed -- store those separately in a box labeled with the year filed and the destruction date.
Get Organized Newsletter
Organized For A Living Newsletter
Do You Need To Get Organized At Home?
Do You Need To Get Organized At Work?
What Are You Doing To Get Organized?
The Latest Organizing Products
Bankrate.com Tax Center
Earthlink Tax Center
Get A Jump On Tax Time
MSN Money Tax Workshop
Proper And Prudent Document Destruction
Take Time for Taxes Now to Avoid Trouble Later
Tax Day E Cards
Tax Preparation Checklist
US Business Advisor
When To Toss Financial Records
Want to receive notification of each month's organizing holidays e-mail? Sign up for a free subscription to our newsletters.
Click here if you would like to submit a holiday to our calendar...
www.OnlineOrganizing.com is a service mark of Bradford, LLC.
To see what people are saying about www.OnlineOrganizing.com, check out our visitor comments.