The following is a guest post about how to easily organize tax documents for quick reference from regular contributor, Kristin at The Gold Project.
It seems like once the holiday season is over and the new year has begun, it is time to start thinking about taxes. In my house, it usually includes printing off and collecting many different documents to turn in to our Accountant.
This task used to be a very confusing one for me. That is until I came up with a system that runs pretty smoothly and makes life so much easier at tax time. So, I thought I would share it with you today.
The first and most important organization piece for my taxes is my binder. All of our tax documents are contained in this one binder that is sectioned off and labeled by year.
Right now, I have eight years worth of taxes in this binder. I know they tell you to keep seven years, but I had an extra tab, so we keep eight instead. When the new tax season rolls around, we shred the oldest year to make room for the new paperwork.
The most important document in this binder is The Annual Tax Documents Checklist that I created. This document gets printed out every year. Feel free to download a copy for your tax binder. This document is always the first page in a dated section.
This paper is very beneficial when getting tax documents ready to turn in. I will pull out last year’s completed sheet and I will gather those same documents (and, any additional ones) for the current year. As I am gathering them, I will fill out a new sheet for the current year.
This document makes my life so much easier when getting ready for tax time.
Keeping my tax documents in a binder and having a main checklist may seem like simple tasks, but they have made a tremendous difference in how we organize and collect documents for our yearly taxes.
How do you organize tax documents?
Note from Laura: this is exactly how I organize tax documents in my house too. However I use a separate binder for each year. This simple method makes it so easy to find what I need for quick and easy reference.
My name is Kristin and I am a middle school career education teacher by day and a mommy/wife/blogger by night. I am married to my high school sweetheart and we have two loving children. We recently made a life-changing move to Arkansas, so our new house is always under construction. I get excitement out of finding new creative, functional, and cute ways to organize things! I also enjoy writing and documenting life as it happens. So, I put these loves together and created The Gold Project. With the help of my husband, I am attempting to turn our house into a home. So, check out this special place of mine and take this journey with me!