Organize at Tax Time
Being Organized at Tax Time Can Save Time and Money
For many people, the approach of April 15 means a mad scramble to gather receipts, bank records and other papers needed to prepare tax returns. Once the returns are safely in the mail, they store their important papers in drawers, shoe boxes and other spots-until the next tax season, when they scramble once again.
This year, why not break the habit of disorganization, and use tax time as an opportunity to permanently give order to your personal and financial affairs? In the case of papers and belongings that are valuable or irreplaceable, the best storage is in an Underwriters Laboratories (UL) classified fire-resistant storage container.
What should you put in your fire-protective container-and how long should it stay there?
Here are the guidelines for some of the most common documents: