Friday, January 22, 2010

Tax folder

This month the working zone is the office. Now is the time you clear out and update all of your files in this area. One of the files you should have is a tax file folder. I suggest that it is a bright color or at least a different color than your other folders. I also like this folder to be either the first or last folder in the drawer. All through the year as anything comes into your office that relates to your taxes you just drop it into this folder. If you have a business and keep up with receipts for your business, you might want an envelope for each month to hold the receipts. Other items you might drop in the folder are your monthly mortgage statements (if you get a cumulative one at the end of the year then you can let the others go), Ad Valorem tax receipt, monthly statements for brokerage accounts, bank statements, HUD settlement statement if purchasing or selling a house, receipts for home purchases that may qualify for energy credits or any major home improvement, college tuition and child care receipts, receipts for charitable contributions, and your end of year-last paycheck stub. About now all of your tax statements are arriving so drop them in too.
When it is time to do your taxes or gather the material for your accountant, you pull out your folder and look over last years tax form to see if you have everything. If you start this folder now (and mine already has items in it for 2010 taxes), life will be much simpler next tax season.

Jonda S. Beattie
Professional Organizer
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