How to Organize for Taxes

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    • 1). Label an expandable file folder for the current tax year. For example, if the current tax year is 2010, you would label your folder "2010 Taxes."

    • 2). Place the labeled folder in an easily accessible location where you can see and access it daily. On top of your desk, right next to your computer is a good spot.

    • 3). Place all receipts, statements, lists or any other tax-related documentation that you accumulate daily directly into your tax folder. For example, if you make a charitable donation, place the receipt directly into the tax folder rather than placing it into a donations folder inside your file cabinet drawer and then having to find it again once tax time rolls around.

    • 4). Place your copy of your tax return into the folder once the return has been filed. Once this is done, file the folder away for long-term storage and immediately replace it with a folder for the next tax year.

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