Filing taxes is a burden for most, to say the least. It can be frustrating and downright maddening trying to organize all of your documents and attempt to figure out what you need and what you can toss. There’s a simple way to start feeling a little better about tax season though: start organizing your documents now! Take these file organizing hints from the Housekeeping section of About.com:
Income- Include pay stubs, W-2s, 1099s, interest statements, and dividend statements.
Medical- File receipts for medical expenses, and health insurance out-of-pocket expenses.
Donations-Include receipts for both cash and non-cash donations.
Real Estate- File interest statements from mortgage, tax assesments.
Child Care- This file is for child care payment receipts.
Tax Correspondences-Include any important letters from the IRS or your state revenue service.
Student Loans - File statements of loan interest paid.
Misc. Receipts-Add any receipts that might be needed for deductions.
Payments- Include any records of advance payments.
Old Tax Papers- File by year your old tax returns.
Keeping your records in an organized fashion like this will ensure that you can locate what you need far before April 15th.
Life Uncluttered wants to know: How do you organize your tax (and other important) documents? Let us know by leaving a comment!
Photo courtesy of Flickr