No, I am not going to talk about how to do taxes. It is certainly not my area of specialty. But it now is the time of year to compile records and prepare to file.
People have different ways of keeping financial papers together. I am curious to hear from my fans on tricks for keeping such papers together throughout the year, so that once it’s time to file, the process is painless.
What’s the best trick you use to keep your tax papers together throughout the year?
I have a folder for each tax year in my filing cabinet. When I start to receive files for the upcoming tax season, I make a new folder and put them in so I don’t lose them in one of my other paper piles.
Thanks, Linda! This is a great idea that’s simple and doable. Keeping your documents separate from papers from previous tax seasons helps when filing comes around.
Hi Elesheva, I know many people who’ve made a technical leap vis a vis taxes.
They’ve invested in an inexpensive scanner and a shredder. They scan their receipts and other documents, save them on a device, back them up on another device, then shred the paper documents.
Thanks for sharing Terry! True, with advance of technology and some people wanting to go paperless or minimize the amount of papers they keep in home, this is one good way to go.