Tuesday Tips – Organizing for Next Year’s Tax Preparation

Today, as you are well aware, is the deadline for filing personal taxes.  For many, this day is akin to April Fool’s Day, with the joke being on them.  They were disorganized with their paperwork all year, and knowing the task of tax preparation would be a chore, proceeded to fall into the trap of procrastination.  So the unpleasant task escalated into a last minute, frantic, sloppy, curse yourself mess.  Sound all too familiar?  If this describes your situation, I hope you were lucky and finished with enough time to get in the pre-midnight post office line.  If you gave up and filed an extension (giving you another six months to procrastinate), I hope you call me for an organizing session!

There is good reason this day falls during ‘Organize your Files Week’.  To avoid the dread of tax preparation next year, do this one easy thing RIGHT NOW!  Get a file folder, large envelope, box, or whatever works best for you.  Label it clearly for ‘2014 Taxes’.  Make this the ONE AND ONLY place where you immediately put all tax-related statements, receipts, donation forms and other documents throughout the year. 

There are many great tips for creating a filing system to get your paperwork organized, and I will address some of them during the week.  But for right now, without over-thinking or analyzing what would work best for you, create your ONE AND ONLY place to file tax documents.  Start using it today, and find the January through April items that need to be added.  Keep it simple so next April 15 will be just another day when you are free and clear of dread because you got your taxes done early for a change!



  1. When I retired, I decided to cancel all my credit cards except one VISA card. I even cancelled my American Express card after 22 years (I was spending more on annual fees than anything else).

    At the end of the year, Chase Bank notifies when the annual statement is available. They break it down nicely into categories, including “medical” and “donations.”

    This makes it extremely easy for me to figure out how much I’ve spent on medical bills.