Keeping Tax Papers Organized

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?

To see more great Works For Me Wednesday tips, head over to We Are THAT Family.

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2 responses to “Keeping Tax Papers Organized

  1. Great idea! In the kitchen makes perfect sense to me.

    Another tip that I have found helpful is to keep a “tax deductions” file throughout the year. First, I keep a pad and pen in the laundry room by my donations box. Each time something gets tossed in there, I jot down what it was. Then, when I give the donation, I attach the receipt left by the driver to my list, on which I then write down the total value. These pieces of paper go to my file pile and monthly (bi-monthly?) find their way into my “Tax Deductions” file. When I pulled out the stack of 8- 10 donations, I just tallied them up and added them to our monetary donations. Voila! Gave the total to my husband, and my part of doing taxes is el-finito this year. 😉

  2. Hey, whatever works. We have a special place near where I sort the mail to place tax stuff, because it is handy, like the kitchen is handy for you. Thanks for the tip!

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