Simple Tax Prep Tip

Simple Tax Prep Tip 2

Tax Season…not an enjoyable time for many people.  I used to dread getting everything ready, wondering if I was missing any important piece of paperwork.  That is until I started doing this little trick.

Each year when I am done doing our taxes, I grab a new manilla file folder.  This is my folder (my life saver) for the next year of taxes.  Since everything is fresh in my mind, I write on it all the things I need to gather for the following year:

Income Sources
Bank Interest
Investments
Other (mortgage, property taxes, education, city tax, etc)
Charity

I keep it in an easy spot in my desk files and add to it throughout the whole year (ie. charitable donations slips).  Then when it is tax time, I pull the folder out and sort through the contents, check-marking the items off when I have accounted for them.

P.S.  I also write on the front of this folder what my tax refund is.  That makes me celebrate.

Linked with:  Cornerstone Confessions, The Thrifty Home, We Are That Family