Get Organizing Advice from a local NAPO Member!
Keeping orderly records for tax-filing purposes is perhaps just as important as making sure you claim the appropriate tax credits, deductions or filing status.
Without the right paperwork, you could miss out on important money-saving benefits for the 2009 tax season, such as a $7,500 credit for first-time homebuyers or tax incentives for businesses.
Diane Hatcher, Certified Professional Organizer® and member of The National Association of Professional Organizers (NAPO) is offering tips to help sort, categorize and organize tax documents and thus end the stress of trying to find W-2s, medical and business receipts and online IRA contribution records.
“Getting organized this spring – in time for tax season – could literally mean more money in your pocket,” said NAPO Former President Standolyn Robertson. “Not only does better organization save the time of searching for misplaced documents, but it could also yield higher income tax refunds when filers have all the necessary documents at hand.”
NAPO offers a step-by-step guide to getting organized for tax season:
Step 1: Designate a place for all your tax documents
Disorganized rooms, desks and filing drawers can be distracting plus lead to lost documents and wasted time looking for them.
Step 2: Sort, file, save
For each potential tax record, ask yourself the following questions:
- Do I need to keep this? Yes, if it is tax related or a business deduction.
- If I need to keep it, where would its home be? A labeled file folder works well.
Step 3: Categorize your records for tax purposes
- Be sure to keep records and a separate file for papers you’ll need for your tax return. Don’t miss out on claiming expenses and deductions because you misplaced them or don’t have a copy of a key invoice.
- Sort your paid bills by subject, such as office expenses, home improvements, health expenses, donations, credit cards, investments, etc. (See Schedules A and C for a more complete list)
Step 4: Assemble your records for this year’s return
With your files in order, it’s much easier to gather what you need for your 2009 return – whether you are preparing the return yourself, or sending your documents to a tax preparer. Use the worksheet your preparer provides.
Step 5: Schedule time to stay organized for future tax seasons
The best way to get and stay organized is to schedule a regular time and day each month or one hour a week to sort through new documents and organize your record keeping. (Using prepared software such as Quicken or QuickBooks makes it even easier once you have it set up properly).
What is a professional organizer?
A professional organizer enhances the lives of clients by designing systems and processes using organizing principles and through transferring organizing skills. Professional organizers help individuals and businesses take control of their surroundings, their time, their paper and their systems for life.
About NAPO
The premier national association dedicated to the field of organizing, the National Association of Professional Organizers (NAPO) is The Organizing Authority®. Formed in 1985 as a nonprofit professional, educational association, NAPO is dedicated to serving its members through education, networking, industry resources, and promoting the profession to the public. NAPO’s mission is to develop, lead, and promote professional organizers and the organizing industry. For more information, visit www.napo.net.
Retention Guide
For the IRS description of what documents to keep and for how long, send a brief email to Diane Hatcher, CPO® at diane@timesaversusa.com with IRS Retention in the subject line.
For personal, professional assistance, contact Diane Hatcher, CPO® at 954-252-7511 or visit www.timesaversusa.com.
