Organizing for Tax Season

Organizing bookshelves can be a fun and rewarding task, combining aesthetics with organizing. Here are some tips to help you create beautiful and functional bookshelves:

organizing for tax season

Create a Checklist

Start this process by making a checklist of the items you’ll need. Sometimes your accountant will send you a checklist, but if they don’t or if you do your own taxes, this is the best place to begin. Here’s a list to get you started, but add your own based on your individual situation:

  • Income documents – W-2 forms, 1099 forms, etc.
  • Financial documents – retirement statements, investment statements, etc.
  • Deduction and credit-related documents – mortgage interest statements, charitable contribution receipts, significant medical expense, etc.
  • Personal information – Social Security numbers for yourself, your spouse, and any dependents.
  • Prior year’s tax return (for reference).
  • Any other relevant financial records and statements.

Add important dates and deadlines to the checklist too, to keep them top-of-mind and visible at a glance.

Gather Everything

As those tax forms and year-end receipts arrive, make a file folder. Make a physical one, a digital one or both so you can put those documents directly in there to make sure they don’t get lost under a pile of junk mail. Separate them into categories – income, deductions, credits, and personal information.

The ones that automatically arrive are the easiest ones. Next you’ll need to sort through receipts and financial records for deductible expenses such as medical expenses, charitable contributions, and business expenses. Review bank statements, investment account statements, and any other financial statements to ensure that you have accounted for all sources of income and expenses. Organize them by category and keep them together with other relevant documents.

Make a Filing Plan

And last but not least, make a plan for how you will get those taxes done and filed. Schedule time for yourself – several sessions if needed – as calendar meetings to help hold yourself accountable. Or, look into tax prep software or an accountant to help you tackle the task.

Tax preparation is different for everyone depending on individual circumstances, so it’s always a good idea to consult with a tax professional for personalized help and advice.

Let’s work together to streamline your files. Contact us for home organizing help if you’d like a partner to get you going.

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