Keeping Track of Receipts for Taxes

This may be too late for this year but this is how I handle our taxes year round. I have a folder in the area where I pay bills, open mail, etc. Throughout the year I put dividend statements, Goodwill donation receipts, etc. into the folder. I also keep all paycheck stubs in a separate envelope nearby.

As I receive tax documents in the mail in January, I add them to the folder. Then when we are ready to do our taxes, everything we need is in the folder (including a copy of the kids social security cards). Taxes are still not fun to do but I at least skip the step of pulling everything together. I also make a copy of the current year 1040 form and put it in the folder in case I need some info for the next year. Hope this helps!

By Ann4