Tuesday, August 3, 2010

7 tips for organizing your receipts for taxes

The tax man is coming-do you know where your W-2s, investment plan statements and receipts for deductible expenses are? Now is the time to track down and organize your tax-related documents, to make sure they are easy to reach when you are ready to file.

To help you navigate paper piles and reduce the hassle and stress that often is part of the tax-filing process, here are some organizational tips from ACCO Brands, a global office products company that has provided people with organizational solutions for 100 years through its family of brands, including Wilson Jones storage, filing and organization products; Swingline staples and punches; Perma records storage products; and Day-Timer planners:

TIP 1

• Identify and isolate what you need for now. Break out the documents you'll need to complete your tax form: W-2s, year-end investment statements, year-end checking account statements, receipts from charitable donations, and medical and work-related receipts. If you saved sales receipts and use a paper-based planner, store them temporarily in customized folders, such as Day-Timers' ColorLife Slash Pockets.

http://woodardaccounting.com/

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