Rid yourself of the receipt pile!!!

Sunday, November 11th, 2007 | Organization with
Posted by: Kristen Beireis, Trust Marketing Expert

Ah, taxes are due next week.  Are yours done?  I spent last weekend helping a family friend do her taxes.  Talk about piles of receipts!!  How many of you have a shoebox of receipts that you go through at the end of every year?  Do you pay an accountant to go through those receipts for you?  You already know how important it is to keep track of those receipts and take each and every deduction you can.  Below are some tricks that I use so that when tax time comes, I don’t spend hours getting ready to do my taxes or have to pay someone to organize FOR me.  My hope is to Help you create a ”tax life” that’s a little less stressful.

Organizing receipts throughout the year:
1)  Get a plastic expanding file folder with 10-20 pockets and self-labeling tabs in it ($9.00-$15.00 @ Staples)
2)  Make sure it is easy for YOU to open and close.  Most have an elastic band that is easy to use.
3)  Create tabs for each tax category that you will have receipts for (list of possible categories)
4)  Put the file folder in a place where you’ll see it and use it!!
5)  Whenever you take receipts out of your pocket, wallet, purse etc… place it in the appropriate pocket in your file.
6)  At the end of the year, you have two choices.
a)  put all receipts in corresponding manilla folders and place into a tax box
b)  bundle each pocket with a rubber band or paper clip. label them with sticky notes and put them in the last 2 or 3 empty pockets.

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