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Tips on Organizing & Storing Financial Documents

Steve Reed
Organizing Financial Documents
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With only a few days left before April 15th, you might be feeling a bit stressed. Getting your receipts and files together before filling your taxes can seem like a big job. Do you know where all of your tax documents and receipts are? You might have recently moved and stored a majority of your documents and files, along with your personal items, in a storage unit to help save up some space. The truth is, it’s important to stay organized instead of scrambling at the last minute to get everything ready. This process will make your accountant’s job much easier for both of you.

Here are a few tips to staying organized at home or off-site, so you can maximize that tax return:

  1. Create a System – You want to make this system simple. If it’s complicated, you probably won’t stick with it. Make sure to keep documents, such as statements and current bills in a folder that’s easy to get. Those other documents and receipts that you don’t necessarily need on a regular basis but need to be saved should be filed away in boxes.Organizing Business Documents
  2. Eliminate Unnecessary Documents – Next tip is eliminating any of those unnecessary documents, such as pay stubs and ATM receipts. Most of your year end information will be able to be found online. It’s time to clean up and remove the clutter from your desk and wallet. Remember – tax records should be kept for at least seven years from the filing date.
  3. Secure Place for Documents Off-Site – Another important tip is keeping extra copies of financial documents, like tax forms and mortgage papers. Bargain Storage, for instance, is a great place to keep all those important documents safe from any unexpected disaster. This will give you an ease of mind that your documents and personal items are organized and secure.
  4. Keep Track – Having an organized system will only work if you use it regularly. Whether you decide to store documents electronically or in a storage unit, it’s important for it to be easy and accessible for you. Remember, if you do decide to store documents electronically, such as a cloud-based service, make sure to have a protected password in place.

Use these tips to help formulate an organize a system that is right for you. The sooner you send in your taxes, the earlier that tax refund is in your bank account!


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