One Minute Tip: How to Organize Now for Next Year’s Taxes
What are the three things you can do now to organize for next year’s taxes (and keep your receipt clutter down all year)? You may not be able to do anything about last year’s sloppy accounting habits, but no better time than the present to organize for a stress free April 2015!
What are the three things you can do now to organize for next year’s taxes (and keep your receipt clutter down all year)? You may not be able to do anything about last year’s sloppy accounting habits, but no better time than the present to organize for a stress free April 2015!
3 Ways to Organize Now for Next Year’s Taxes:
1. Organize Your Bank Accounts: Opening separate accounts for business and personal expenses can make organizing all of your deductible purchases as simple as possible. Charge your business expenses to one account, and keep your personal expenses on the other!
2. Only Keep the Receipts You Need: You don’t need to keep every receipt you are handed, and spending a little time now deciding which ones are actually important can really cut down on paper clutter in your bag, wallet, and desk. Cash purchases, purchases over $300, items with a warranty, and items you insure are all good receipts to hold on to. Take the time to write down on each receipt what the purchase was related to if you are going to deduct it.
3. Scan Your Receipts: Most companies will accept scanned copies of your receipts, and doing so can really cut down on the paper storage that accumulates over the years. Digitize! It’s time! (But always check first with important receipts if a scanned copy will suffice before destroying the original!)
• The Star: Drawing from his life-long struggle with the clinical form of OCD (Obsessive Compulsive Disorder), Justin Klosky has transformed the cumbersome disorder into an organization that promotes stress reduction and manageability. Branded as “Master Organizer” on CBS’s The Talk and “Organization Expert” on the Anderson Show with Anderson Cooper, Justin works hard to bring order to his clients’ lives. With O.C.D.’s guidance and expertise, clients can get through the most difficult obstacles to create a systematic approach to living. His first book “Organize & Create Discipline – an A to Z Guide to an Organized Existence” was just released (and you can order it now!).
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Links and Related Posts:
• One Minute Tip: Five Strategies for Working Better at Home
• Tax Tools: Save Time, Money, and Stress
• One Minute Tip: How to Paper-Free Your Desk
• Spike Coin and Receipt Holder