Last year’s return is a great starting point for this year’s filing.
By looking at your return from last year, you can quickly see what information you probably need now.
In addition, you may need to use some information from last year, such as depreciation or inventory information, to complete your new return.
Depending on the complexity of your tax return, you may want to use file folders, paper clips, boxes, or other methods to categorize documents.
Entering information in TaxAct is much easier if you separate your income, deductions, and credits information.
If you have one or more businesses, you’ll need to keep each business’ information separate as well.
If the place you want to keep documents isn’t easy to get to, it won’t get used consistently.
Even if you intend to scan documents, you need a place to store them temporarily.
Consider choosing something you can reach with one hand, like a shelf or folder, even while holding a stack of mail.
If you don’t let that Form W-2 or Form 1099 hit the kitchen counter, it won’t get lost.
