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It is ok to admit that last year you dropped off your tax information April 14th during your accountant’s lunch hour. Tax season can drain the best of spirits. In January it seems like we have a lot of time until that April deadline. We tell ourselves we will get to it “later.” Later, of course, does not arrive until April is in front of us. We are overwhelmed by stress, fearful of missing paperwork that will cause us to miss deductions or worse, to be audited! Many of us who struggle with organizing tax records simply don’t know where to begin. As with many organizing projects our goal is to keep it simple. Step One:
Set aside one location for all the
tax records you receive throughout the year. For
some this is a file marked “taxes”
in their financials file. For another it may be a basket where all
tax records are placed as they come in throughout the year. Some
of these records might include medical receipts, charity
documentation, or property taxes. This will help reduce
the stress of locating needed paperwork when the time arrives. Step Three:
Call your accountant and set up your appointment. This will give
you a deadline to work toward. Set aside some time prior to that
appointment date to focus strictly on your taxes.
Mark the allotted time and date on your calendar. You can set aside
many short periods of time or choose to set up one or two larger
periods of time to work in. If you simply tell yourself you will
get to it later, you won’t. It is in our nature to
avoid projects that we do not want to do. Step Five: Now that all the papers have been sorted into their categories, we need to put them into a format that is easily handled by you and your accountant. My preference is a binder with tabs marking each category and the paperwork for that category falling behind each tab. A file folder for each category is another alternative, although papers in folders are not as quickly and easily viewed by your accountant. Step Six: Reward yourself for a job well done! Tax Preparation Categories:
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As
a Professional Organizer, Cyndy Ratcliffe works with home and small business
owners to clear their clutter and organize what is important. She assists
individuals to reduce stress, boost their image, and be more productive
through her speaking, teaching, and hands-on coaching of organizing techniques.
