It’s that time of year again. Tax time. I have put together a post with simple steps to help you prepare your taxes and organize your files for the New Year. You can do it!
1. Purge
- Purge your files, one by one.
- Throw out and shred anything that you do not need.
- Set aside important items for taxes.
2. Sort
Re-evaluate, Re-label and Re-arrange files to include all current and pertinent topics, such as: Auto, Banking, Credit Cards, Insurance, Medical, Personal, Telephone, Utilities, Taxes 2015.
3. Prep
- To prep your taxes put all like items together for your accountant.
- Total and record the amount of each category on a sticky note and paperclip it to that stack, categories such as: Personal: Income, Investments, Interest Earned, Interest Paid, Medical Expenses, Charity Donations. For business taxes: Income, Office Deductions, Mileage, Donations, Travel, All Expenses.
Now your files are cleaned out and ready for the New Year. You can easily add to and review what is in each file. Your tax info is all set aside, totaled and ready for your accountant.
