Budget & Finance > Tax TipsJanuary 24, 2008

Use Envelope for a Year's Worth of Receipts

I have a tip for organizing your receipts for income tax. Every year in January, I get a medium brown envelope and write on it "Tax receipts 200?" (whatever year is the current one). I put all my receipts in it through the year. Then, the next year when it is time to file your income tax return, your receipts are together and they are easy to sort into categories. Filing made easy for the accountant and yourself. You are not wasting time looking for receipts and trying to remember where they are.

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11/21/2011

Yes I agree with that. Being doing this for years also and it is easy to get organized when the time comes for taxes. I have a small business and I do that also with the receipts.

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