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Organizing Your Tax Information

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  • Post category:Budgeting
organizing for tax time
source: James Morris

Tax time is quickly approaching. If you haven’t gotten them already, you should be receiving tax documents in the mail within the next 10 days from employers, banks, mortgage companies and more. But organizing those documents is only part of the battle. You also need to organize your medical expenses, charitable giving and a dozen other categories of expenses. For small business owners and freelancers, the list of documents to organize is even longer.

Smead makes organizing for tax time a little easier with three handy tools that help you sort all of your information and records while still keeping them at your fingertips:

  • Smead All-In-One Income Tax Organizer
    This all-in-one organizer has 13 pockets plus 1″ storage for completed returns. It comes with printed and blank labels as well as easy instructions and checklists.
  • Smead 6-Pocket Tax Organizer File
    This 6-pocket folder holds documents securely in one place, allowing you to sort documents into six separate subfolders.
  • Smead Jan-Dec Indexed Expanding Files
    Get a head start on next year’s tax records with this indexed expanding file, which holds more than 900 sheets!

Whether you’re filing a small personal return or a complicated business return, Smead has products for returns of all sizes. Because tax returns must be kept for 7 years, it’s important to organize them in a way that makes them easy to go back to at a later date. In fact, last year we received an adjustment on our 2008 return due to an error on my part. Thankfully, I was able to quickly page through my documents to verify the error and make it right.

I especially like the 6-pocket tax organizer file (although I’ll admit the price seems a little hefty), because it’s a lot like the system I currently use only better. I love that it’s essentially one file with six sections for easily sorting documents and referring back to them as needed.

Stay tuned in the coming weeks for printable tax checklists and more!

How do you organize your tax documents?

Smead sent me two sample products and a gift card in exchange for this post. However, all opinions are 100% mine.