10 tips for getting Organized During Tax Season (2024)

Organize your tax files now

Getting organized now will save you time and money during tax season. No need to file an extension or pay penalties for a late tax payment. You won't have to pay your tax professional extra money to sort through your shoe box if you follow these simple tips.

1. Don't wait until January! Set up files now.
2. Create a home for tax-related papers and receipts. You won't have to sort through everything later. Make the "home" convenient! If it's not convenient, you won't use it!
3. If you itemize your return, create 1 folder for each type of itemized deduction.
4. Utilize technology. You can track mileage, deductions, and charitable contributions - there's an app for that! If you run a small business, use Quickbooks or another accounting software.
5. Simplify your filing system. If you are using a software like Quickbooks, simply create January - December files and put all receipts, expenses, etc. in one monthly file.
6. Set up good habits and routines! When you are making a purchase, write on the receipt "Personal", the business category , or who you are eating with.
7. Create a designated "home" for receipts. Always put receipts in the same place in your purse or wallet. Once per week, clean it out and file them appropriately.
8. Put each years' documents in the same place. You can easily shred the oldest when you file next years' documents.
9. Consider going paperless. The IRS accepts digital documentation - no need for a huge file drawer full of receipts! Use a scanner and set up a digital file structure.
10. Make your system as convenient and easy to use as possible. Done is better than perfect!

{Disclaimer: Speak to your accountant for tax advice. We are not tax professionals. Ask your accountant how they would like your tax documents organized.}