Tax Paperwork; Keep moving forward
Last week you completed the “rough sort” and got rid of the junk. If you still have questions of what can be tossed, see the IRS link below.
Second Step: Sort Like with Like
*Take that big pile from your quick “rough sort” and start to break it down.
*Use BIG categories like insurance, auto, financial, medical.
*Don’t get hung up on smaller categories and the specifics (yet). Those will come later.
Most likely you will have several types of insurances, but for right now celebrate the fact that you got all the insurance paper in one place. The same is true with financial: banks, credit cards, investments, etc.
Next week we will move to step three: setting up files
Incredibly useful links for Tax Preparation
Click on these links below for useful information for tax preparation.
Self Tax.com This site has FREE through very inexpensive online tax prep.
Dennis Middleton CPA.com If you are looking for a CPA to help you with your taxes, I recommend Dennis.
IRS.gov IRS guidelines for paper retention Here is the source from the IRS.
If you aren’t sure what to keep or toss (shred), please consult with your tax preparer.
