Conquer Your Office Chaos in 5 Steps
Does it look like a bomb exploded in your office at home? Still recovering from preparing your income taxes? Even if you’ve taken the automatic extension, now is a fabulous time to restore order, and in the process, some peace of mind. When your taxes are complete, before you store away your return and back-up documentation for 2011, make the job easier by creating some filing space. 1. Pull out those file drawers or old bankers’ boxes. Find your return and your records for the tax year 2004. 2. Set aside an hour and start going through the paperwork. It will be much more comfortable if you’ll clear a surface or set up a portable table to sit at as you sort through the papers. 3. Not sure what to save and what to toss? A short visit to the IRS.gov website can inform you which documents you need to keep–see box at right. (Or to request a user-friendly list, email: firstname.lastname@example.org)
Did preparing your income tax create havoc in your home office? Always Keep:
* Annual income tax returns, including all schedules and forms such as W-2s, 1099s, etc. * Back-up documentation to support your income and deductions (expenses) * Annual statements and receipts pertaining to home improvement, investments, retirement accounts and self-employment.