(NC)-Each year, you vow to be more organized, only to find that by tax time your desk is cluttered with tax forms, papers and to-do lists. With a little guidance and some helpful tools, you'll be organized throughout the year, making typically hectic tax time a breeze.
Step 1: Designate a place for all your home office files
& equipment
Disorganized rooms can be distracting, leading to lost
documents and wasted time looking for them.
Avoid this by labeling folders, bins, shelves and drawers, so
you have a dedicated place for all your supplies and files.
While you're at it, you can also label your CDs, DVDs, USB
drives, and portable electronic devices. Remember to include
your contact information on higher-value items such as your
laptop and personal digital assistant (PDA), in case they are
lost. To help avoid theft, Brother P-touch labellers can use a
special security tape that leaves a checkerboard if tampered
with.
Step 2: Sort, file, and toss
Now that your work space is in order, you're ready to begin
organizing your papers and labeling file folders. For each
document, ask yourself the following questions: Do I need to
keep this? If I need to keep it, where does it make sense to
file it? What might I need it for later - tax purposes,
warranty, budgeting, etc.? Do I need to make a copy/copies?
Brother multi-function centres have copy and scan features so
you can keep electronic and hard copies of important documents.
Step 3: Categorize your records for tax purposes
While you're sorting documents and receipts, be sure to make a
copy and keep a separate file for papers you'll need for your
tax return. Don't miss out on claiming expenses and deductions
because you misplaced or don't have a copy of a key invoice.
Sort your bills by subject, such as; office expenses, home
improvements, health expenses, donations, credit cards,
investments, etc. Label folders and files using a range of
colours so you can colour-code for easy reference.
Step 4: Assemble your records for this year's return
With your files now in order and up to date, it's much easier
to gather what you need for this year's return - whether you
are preparing the return yourself, or sending your documents to
an accountant who will do it for you.
Step 5: Don't forget your promise!
You want to stay organized throughout the year, right? The best
way is to schedule a regular time and day each week, or each
month, to sort through new documents.
A good rule of thumb is to schedule about one hour a week for
record-keeping.
