Filing Is Key to Organization of Tax Documents

To get your tax documents organized as a small business owner, create a desktop filing system that’s within easy reach of your workspace, says A Bowl Full of Lemons. Label folders with headers such as “Income” and “Taxes Paid,” and also create a folder for every category of deduction you plan to itemize, such as business travel, office expenses and charitable donations. And remember that your donations of lightly used clothing and household goods made to are fully tax-deductible, since proceeds help fund veterans’ programs. Save your receipts!

Keep Your Paperwork Organized for Tax Time

As frequent readers of the Organizing Blog know, the key to living a stress-free life is to stay organized — and that is never more true than at tax time. Whether you prepare a return yourself or have a professional do it, Bankrate says, having all of the necessary paperwork in order is crucial to filing the most accurate and favorable tax return. And if you failed to keep all of your receipts and other documentation sorted this year, you already know that this is a great time to get organized, so that next year’s taxes won’t present any unpleasant surprises.