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Tip Tuesday – A Place for Tax Papers

Resolve to create a DEDICATED place to capture all the tax information coming your way this month. I have a red plastic file folder that “lives” within arm’s reach throughout the year, where I can put important papers as they come. That way, when it’s time to prepare for tax season, I don’t have to tear apart my desk to hunt down files. I have peace of mind knowing that I have captured everything needed in my one tax folder, and can effortlessly go through it all.

You may receive 1099’s, W-2’s, donation acknowledgments, information on investments, stocks’ dividend and distributions, interest paid, and more.  ALL of these statements need to be dealt with, whether by you or a tax professional. Knowing that these documents are safe in one place will keep you calm and collected come April, and year-round. Doing your taxes will no longer be so taxing!