Add to GuideAsk a Question
To Top

Organizing Paperwork For Taxes

Category Paperwork
Cabinet with Multi-colored Hanging Files
Make the arrival of tax season less stressful by organizing the paperwork needed for preparing taxes. This is a guide about organizing paperwork for taxes.
Ad

Solutions

Share on ThriftyFunThis guide contains the following solutions. Have something to add? Please share your solution!

By 5 found this helpful
February 2, 2010

Keep a folder in a place it won't get lost or misplaced. Every time you receive something you will need for your taxes put it in our folder. (EX. property taxes, donation receipts, etc.) then it will be handy, and in one place next year when you go do your taxes.

By Gail from Rochester, NY

Comment Was this helpful? 5
Read 2 Comments

By 1 found this helpful
February 2, 2009

Every January I set up a new manila folder and mark it with the year. Then every time I have a receipt or statement I need to save, I just put it in the folder. Come tax season all the paperwork is in one place.

By Rebecca from Lancaster, NY

Ad
Comment Was this helpful? 1
Read 5 Comments

By 4 found this helpful
February 4, 2011

I use a monthly calendar to organize my financial life. I don't use a fancy one, just one that I receive as a promotional free item. I staple all check stubs and I write the amount of my receipts on the day that I had the expense. I have a spot each month where I tally the months expenses. It is very easy to forget such as doctor visit from the previous January when trying to do taxes a year later. By marking such as this in a calendar, itemizing taxes are a breeze! After taxes have been prepared, I bundle the calendar and receipts in a compact Manila folder and label with the tax year.

By Maxine

Comment Was this helpful? 4

By 1 found this helpful
March 22, 2012

When I get my first tax document in the mail (1099, W-2, etc.), I designate a drawer near my computer as my "tax documents drawer" and let everyone who handles the mail know. Then as things come in, everyone knows right where to put them, and when I sit down to do the taxes, I know right where to find them.
Ad

By Kirsten from Logan, UT

Comment Was this helpful? 1
Read 1 Comment

By 1 found this helpful
January 23, 2008

I organize my tax papers in a binder using clear page protector covers and with labelled dividers to keep the categories separate and organized. Each time something for tax comes in it is placed in the binder in the correct division.

Comment Was this helpful? 1
Read More...

By 0 found this helpful
April 17, 2006

With the tax season already behind us (almost!), here are a few suggestions I have to make next year's preparations a bit easier.

  1. Get a large shoe box and place in a prominent location (bedroom closet works for me.) Place EVERY bank statement, reciepts from deductible items (such as medications, day care, etc.) and other items you'll need at tax time (use envelopes to assist in sorting if necessary.)
  2. Ad

  3. Develop a HABIT of placing the items in the box at the end of the day (I put them in my laundry basket so they actually GO up to the bedroom for storage periodically.)
  4. Begin saving for your IRA NOW! Set aside a small amount from each paycheck (I save 10% of my pay and it is the second check I write after my tithe to my church) IRA contributions for 2006 are $4000 (or $77 per week) if you are under 50 and $5000 ( or $96 per week)if you are over 50. When you have accumulated the total amount, get it deposited into your IRA. If you aren't able to save the full amount by April 15th, deposit what you have! After all, you aren't getting any younger!

Happy Tax Season!

By Diana from Prospect, KY

Comment Was this helpful? Yes
Read 2 Comments

By 0 found this helpful
January 26, 2010

Start out this month preparing for next year's tax time! Label 12 business-size envelopes (one for each month), and put all your receipts in the respective envelopes.

Comment Was this helpful? Yes
Read More...
Ad

By 0 found this helpful
February 24, 2006

I use a portion of my home for business and I can deduct a portion of my utilities, home improvements, and purchases pertaining to the business from my taxes.

Comment Was this helpful? Yes
Read More...

March 13, 2012

A very helpful publication can be found at the Internal Revenue Service web site. www.irs.gov, It is Publication 552 and it is all about record keeping. I recommend downloading a copy and putting it in front of your file box.

Comment Was this helpful? 1
Read More...

By 1 found this helpful
August 26, 2009

Tax records were always a problem for me. I now use an accordion file folder with 12 slots. I use one for each month. I keep it next to my computer since I do most of my bills on line.

Comment Was this helpful? 1
Read More...
Ad

August 16, 20160 found this helpful

This is a guide about organizing receipts for taxes. Getting an keeping your tax deductible receipts organized will help when preparing your return and can help with potential refunds or lower taxes owed.

Pile of receipts on a white background

Read More... Was this helpful? Yes

By 0 found this helpful
September 10, 2009

An easy way to keep tax information together is to use one of the free calendars that stores give away. I white out Sunday on the Sunday column and combine Saturday/Sunday under one column at the end. This leaves a blank column at the first of the week for notes.

Comment Was this helpful? Yes
Read More...

February 4, 2008

This is the time to get organized for your 2008 taxes. Start the year off right! Then at this time next year, you will have all you need.

Comment Was this helpful? Yes
Read More...

April 4, 2012

Tax time is on us so this is for the next year, but can be very useful all year. Get separate envelopes for every month to put ALL your paid bills and receipts in and mark with month and year.

Comment Was this helpful? Yes
Read More...

April 16, 20070 found this helpful

Here are some tips from the IRS about keeping good records. You can avoid headaches at tax time by keeping track of your receipts and other records throughout the year.

Comment Was this helpful? Yes
Read More...

Questions

Ask a QuestionHere are the questions asked by community members. Read on to see the answers provided by the ThriftyFun community or ask a new question.

April 2, 20050 found this helpful

Staying organized for tax time. Post your ideas.

Answer Was this helpful? Yes
By guest (Guest Post)
January 19, 20090 found this helpful

I've used My Tax Records (from www.GetOrganizedHere.com) the past two years. Definitely keeps everything organized and helps make sure I don't forget anything important!

Reply Was this helpful? Yes
Read More Answers
Related Content
In This Guide
Cabinet with Multi-colored Hanging Files
Organizing Important Papers
Categories
Organizing PaperworkMarch 13, 2012
Guides
A pile of retirement paperwork.
Organizing Retirement Paperwork
Organizing Household Paperwork
Organizing Household Paperwork
Photo of a someone checking their oil.
Keeping Track of Your Car's Maintenance Requirements
Pile of receipts on a white background
Organizing Receipts for Taxes
More
😎
Summer Ideas!
Facebook
Pinterest
YouTube
Contests!
Newsletters
Ask a Question
Share a Post
Categories
Desktop Page | View Mobile

Disclaimer | Privacy Policy | Contact Us

© 1997-2017 by Cumuli, Inc. All Rights Reserved.

Published by .

Generated 2017/07/20 11:33:34 in 3 secs.
Loading Something Awesome!