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Take the Tax-ing Out of Tax-es


Since we're approaching tax day, I thought I’d pass on a finance/tax tip my Mom gave me….thanks Mom!


Keep an accordian file for each year. Make sure it is a 13-pocket (this is the size they are manufactured, you just need to make sure you have 12 pockets – one for each month). Label the pockets January thru December and every statement, EOB, Bill, etc gets filed by month. It is easiest to keep your file under control by throwing away envelopes and blank pages of statements, eliminating bulk. When the year is through, we have a bin in the basement to keep 7 years, or 7 accordian files. When we add the current year’s, we shred the oldest file.

Another method is organizing your accordian file by category: medical, bank statements, home, entertainment, etc. You never know when you will need to quickly locate these documents. This also really comes in handy if you need to itemize at tax time.

My kids are old enough to help file mail with me….if I’m feeling patient enough to allow help. After watching their parents have one, I’m sure we’ll purchase our kid’s their own accordian file when they turn 16 and get that first job!

Taxes are boring, did I put you to sleep?

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Kristen is always looking for thingstolearnathome. She's a home-body and lives for her 3 kidlets, 1 hubby and the St.Bernard 'Humphry'. Oh, and cream cheese frosting on carrot cake. And laughing. 

 
Enjoy shopping for quality baby clothing at TradeTang.com

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