We’ve reached the time of year where we’re all starting to receive the various documents we will need to file our taxes. I’ve already purchased my tax preparation software, so now we’re just waiting to get all of our information together so that I can prepare our taxes. Since these documents tend to trickle in throughout the month of January and into February it helps to have a system in place to keep from losing any of them.
In our previous house I simply setup a tax folder in my file cabinet in the office and put all of the paperwork in there. In the new house I don’t have an office and the file cabinet has been moved to the basement. Since I know I’m not going to run down there to file a paper away each time one comes in I had to come up with a new system. So this year I have setup a folder and put it in my kitchen cabinet. This may seem like a weird place, but when I come in the mail gets dumped in the kitchen and that is where I go through it. Having the folder right there in the kitchen means that I will then immediately file the tax papers and they won’t get lost.
This year I have also decided to add a checklist so that I will know when we finally have all of the necessary papers. To generate my list I will go back to last year’s tax file and see what papers we needed. Then I can easily create my list for 2009. Once I have my list together I will staple it inside my tax folder and check off each document as I receive it.
How do you keep track of your tax papers?