A CPA’s Guide to Keeping Tax Documents Organized

It’s tax season, and for many that means stress and worry — but it doesn’t have to be that way. I want to show you how to make this time of year the very best — and here’s how.

In today’s episode of Your Money Minute with Tracy Stewart, CPA, I want to talk about how to keep your tax documents organized.

The key to doing your taxes well is making sure you have all of the documents, paperwork, receipts and statements you need to do your taxes properly. Do you have a system for keeping these things handy? If so, share your favorite system in the comments! If not, let’s look at starting one.

You have a couple of options… you can store things either as physical documents or digital files. A lot of people still use binders to store their physical documents — and that’s perfectly fine. Create a folder tab with the tax year and just stick documents in the folder if you think they may be even REMOTELY important when doing your taxes.

For digital storage, you can scan and save documents in a file storage app like Dropbox, or an app designed specifically for documents, like Evernote. Either way, make sure files are clearly labeled and separated by tax year.

Staying organized is the best way to fight off stress, worry and dread during tax season. Knowing you have quick and easy access to all of your tax-related documents makes the process faster, smoother and more efficient.

Financial independence is unbelievably liberating. Keeping your cool during tax season lets you fully and completely enjoy your money and life — and that’s what I’m hoping for you this year.

Remember: You can subscribe to my YouTube channel for even more practical advice on making the most of your money and life in the next episode of Your Money Minute.