Organizing Tax Receipts

Getting your documentation ready for taxes is stressful enough without wading through mounds of receipts! If you are one who just stuffs receipts throughout the year, here's a hint to make life easier next year.

As you're sorting your receipts for this year's taxes, label two sets of file folders - one for this year and one for next year. By sorting this year's receipts into appropriate categories, you'll know which categories you'll most likely need for next year.

Drop next year's file folders into a hanging file. Now, instead of stuffing receipts into one location, take an extra moment to drop them into the appropriate file. Not much work now, but it saves hours of work later.

And if you file your receipts starting with January in the front, adding later receipts in the back, you will already have them in chronological order, too!

Even if you've already started stuffing this year's receipts, take some time and organize them into files. You'll thank yourself next year when tax time rolls around!


More on taxes:
Taxes - Knowing Which Papers to Keep/Toss
Taxes - a little at a time
Can Your Loved Ones Find Your Important Documents?