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Tax Organization
Three Ways to Tackle Tax Organization
It’s tax time already, yet it seems like only yesterday we filed our taxes and vowed to make sure we’d keep all our paperwork organized so the next tax season would be a breeze. Funny how this time of year has a way of sneaking up on us. If you find yourself feeling unprepared and maybe a little overwhelmed again this tax season, here’s a great place to start. Check out these quick organization tips to make staying on top of your taxes as easy as 1-2-3.

Tip 1: File under “E” for efficiency

One of the most time-consuming aspects of doing taxes can be going through the mounds of paperwork you’ve accumulated over the year. Instead of sorting through your receipts and documents during crunch time, make it easy on yourself by organizing them in file folders labeled by category. Some of the most common categories include income, investments, medical expenses, home/property expenses, childcare costs, education, donations and miscellaneous expenses such as auto registration, last year’s tax preparation fees, moving costs, etc. Then it’s simply a matter of dropping in the right receipt, statement or documentation into the appropriate folder for easy filing.

Creating customized labels for your file folders is quick and easy with Avery File Folder Labels with TrueBlock Technology and free Avery Templates. You can even reuse old folders by replacing old labels with your new, updated labels. Your folders still look nice and neat because these labels are designed to completely cover up old markings or existing labels for a bright, white look every time.

Tip 2: Tax documents, to go

When you’re ready to file your taxes and plan to meet with a tax preparer, simply transfer the documents from your file folders into a secure Avery Heavy-Duty Binder. You might want to consider making an extra copy of all your information. That way, you’ll have one set to keep with you and the other to leave with the tax professional. Organize your tax binder with Avery Durable Ready Index® Dividers and free Avery Templates using the same categories from your file folders. With stronger, heavier paper, stronger tab reinforcement and double-sided hole reinforcement (on tabbed dividers), these dividers are three ways stronger to last longer and can withstand frequent referencing. And for loose documents such as receipts, you can keep them safe inside Avery Secure Top Sheet Protectors.

Tip 3: Create your own hall of records

Once you’ve filed your taxes, use the binder for easy storage. Add a binder spine insert so you can identify the binder by tax year. Over the years, you’ll have an organized library of tax binders, should you ever need to reference any of your annual tax returns or documents.

Getting ready for tax time doesn’t have to be complicated. Once you’ve established a tax organization system that works for you, filing your taxes should become a whole lot easier. And with an effective system in place, you’ll be tackling taxes like a true pro—without that tax time panic.
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