M. Colleen Klimczak, Certified Professional Organizer

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           It's easy to procrastinate when it comes to doing income taxes especially if you have to search for financial records and receipts.  Let Organized A to Z.com help! With our featured products for March, you can create a convenient filing system to track income and expenses all year long.

If you're like most people, you've been procrastinating on getting your taxes done and are feeling the weight of it on your shoulders. If you don't have any systems in place, the weight is even greater. Here are a couple of tips to make your tax preparation a little more bearable.

 

Receipts you don't need to save: If you itemize your medical expenses, you may be trying to keep track of all those pesky prescription drug receipts. An easier way to deal with prescription receipts is to go to your pharmacy and ask for a printout of your 2009 year prescriptions. They can do one of each member of your family and the entire year will be calculated for you. Now you have one less thing to file all year long!

 

Tracking vehicle mileage: Most people aren't real motivated to write down their mileage every time they travel for a business or charity event. Here are a couple of other options you may find appealing. I write all my appointments down on my calendar (Lord knows I'd never be able to keep track of them all if I didn't). At the end of the month, I add up my mileage with the assistance of my calendar and GPS. It takes me
about 15-20 minutes to add it up for the month. Another option for technology lovers is downloading a mileage app like milebug to your phone. Milebug is available for iphones and costs $3.99.

 

Self purging folders: Most accountants agree that you need to save documentation and receipts for 7 years in case of an audit. Here's an easy way to stay on top of that. Buy 7 identical poly expanding wallets . Using a label maker, label each one for 7 years. On the eighth year, pull the label off the first file and shred it's contents. Replace with a new label and paperwork for the current year. Continue the process year after
year.

 

Susan Stewart, professional organizer and owner of Perfectly Placed, has been organizing in the Phoenix, AZ area for 5 years. With a BS in Human Development & The Family and a background in coaching and teaching, Susan is equipped in simplifying the organization process and teaching it to others. Visit her Web site at www.perfectlyplaced.org.

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Organized A to Z     March, 2010

Tips for Organizing for Tax Preparation
Susan Stewart, Perfectly Placed

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