Last year around this time I shared several of my tips and tricks for keeping my taxes organized and preparing for my tax appointment. I started using a binder to keep receipts and tax documents nearby all year long, so that I could quickly file things away in one central location (not downstairs where it would never get done). I’m happy to report it’s worked perfectly!!! Well, except that it’s bulging and the folders are falling out so I need to create a new one…
I am self-employed and with multiple businesses, so that means there are a lot of expenses and deductions to keep track of. I have pockets for: W-2’s/Misc (our real estate tax statement, student loan interest statements, etc. also go here), Charitable Contributions, Medical, Mary Kay, My Blissful Space, (now Jazzercise again!), Daycare, Utilities, Household Expenses (upkeep around the house, etc.), and Groceries.
I haven’t purchased a larger binder yet for a couple reasons. First, with the binders I have in my desk right now I’m not sure a bigger one would fit. Second, I’m trying to train myself out of running to the store the second I feel the need to replace, upgrade, or just generally buy anything. Sometimes when you hold off on a purchase you realize that either a) you didn’t need it to begin with or b) there’s another solution. Something will have to happen, for sure, because I don’t anticipate any less receipts for this upcoming year.
When I do start a new binder, here are my plans:
- 1 1/2-2″ binder (I think the one I’m using is 1″-1 1/2″ so at least one step up would be good)
- New folders – solid colors
- Put actual labels (cute ones!) on the front of the actual pockets. My system is working but you can’t see the labels once the pocket has paper in it except from the front of the folder. Time to do it right. 😉
- While I’m at it, I think it’s time for cuter binder labels and cover labels for all of my binders.