How to Start Organizing Tax Documents


It’s that time of year again… right in the middle of when all of your tax documents came in at the end of January and the actual deadline of filing your taxes in April. We all know those types who are on top of absolutely everything, and complete their taxes the moment all of their W2s and 1099s are in order. If you are not one of those types, and your documents have not been touched since you placed them somewhere safe while wearing protective gloves, then you may just fall into the category of folks who tend to wait until the last minute.

Of course that makes this the perfect time to point out that taking care of your taxes now, instead of on April 14th, is nearly guaranteed to make for a less stressful and smoother process. Not only will professionals be more available to help when needed, but if you find that you need more information or have to verify something, having some breathing room to do so makes all the difference in the world.

Now, let’s look at some super simple steps you can take to start compiling documents, getting you on the path to being done with taxes for this year before you know it!

  1. SSNs: While many people know their own Social Security Number, make sure you’ve got access to any others you’ll need, including your dependents. This may include a spouse, children, or even elderly parents.

  2. Official Income Reports: Make sure you’ve got all of the papers that came in around the end of January, including all 1099s and W2s, interest earnings, etc.

  3. Receipts: This is especially important if you’re self-employed. Pull together any receipts for business related expenses. And if this isn’t as simple as grabbing the folder you keep for business related expenses, now is the perfect time to create such a folder. Also be sure to compile any receipts for medical expenses.

  4. Charitable Expenses: Collect any receipts for any donations you made, whether a donation of clothing or a monetary gift made online.

  5. Account Numbers: If you plan to file electronically, you’ll need your account and bank routing numbers to do so.

Depending on specific life situations, everyone’s tax requirements will differ a little. But getting the list above ready is a good start no matter your situation. From there, you’ll be well on your way to doing your taxes yourself or hiring a professional to do so.

And because we’re talking about organizing documents, this is of course an area in which we at Morgan Organizers excel. If you need any help getting things ready for your accountant, don’t wait to call us: 301-787-4010

Michele Morgan