Organizing Your Tax & Financial Paperwork

by Kristine on June 9, 2008

I was recently interviewed by Cara of The Household Helper about getting your tax and financial records organized NOW for next year.

Some of the tips we talked about include…

– Create a system NOW: a folder for 2008 taxes where you can easily insert paperwork related to your taxes.

– Rule of thumb: keep copies of anything you will be deducting for 7 years. Keep the tax return as well as the back-up for that return.

– If you are NOT deducting things like utility bills or credit card bills, you DO NOT need to keep those statements (I usually keep them until I know the last check/payment cleared).

– If you are deducting things for home office expenses, you must keep those receipts/statements with your tax return (mortgage interest, internet, utilities, phone charges, etc.)

– We talked about more tax deductions, and I even surprised Cara with a deduction she missed this year!

To listen, please visit The Household Helper Podcast and click on Show #17 – Organizing Your Tax and Financial Paperwork.

Share and Enjoy:
  • Print
  • email
  • Facebook
  • Twitter
  • Google Bookmarks
  • Digg
  • StumbleUpon
  • Tipd
  • RSS

Comments on this entry are closed.

Previous post:

Next post: