Just got my 1099 from my previous "employer" in the mail and am about to start gathering everything for this year's taxes. I'd like to have it done and out of my hair no later than January 31st. Earlier if possible!

If we set everything up correctly, we should be breaking even and not really owe, nor be due a refund.

Are your tax documents ready to gather and easily found? Are your receipts and papers strewn about many locations? Are you not even sure where to begin?

Just like any other project, all you can do is put one foot forward and begin. The only wrong way to do it is to ignore it and say, I'll worry about it later.

Who's ready to begin?

Dh worked on our rental property info yesterday ~ creating a document for expenses that the accountant won't charge extra for reading.

Other than that its fairly straight fwd once we recieve our info.

I have to start collecting my documents for my taxes. I also need to set up a place for my 2012 documents to go for next year as well.

I still have to enter receipts for 2011 into my computer program. I just might have to hire my 16-year-old for that job!!

Most stuff for taxes gets placed in one of the taxes folders, although I think I may have a couple things in my 'to file' stack... Good thing I'm working on keeping my desk clear this month

Just emptied the file drawer for 2011 into a bankers box and am evaluating the categories I need for 2012. Will be condensing a few titles(ex-utilities instead of one file for each type), and also adding in the things that SO needs files for as well.

Planning a strategy meeting with my accountant when he gets back from vacation to plan how to handle this year since irs accepted my offer and need to cash out a 401k to satisfy it.

Decided the year before last that taxes took up too much of my time...I bought an expanding file binder, labeled the sections for receipts and each month when I paid bills I totaled each section by month, stapled it and filed it. 1 hour most months has all my bills paid and filed, donations have their own section, totaled each month. When giving items to a non-profit group I am able to input the items directly into a program Turbo Tax uses online, when I do my taxes, it automatically uploads to my tax return.

Last year I did my taxes is record time! And using what I learned (that contact lens solution/cleaners are tax deductible) I was able to streamline my binder sections more for 2011 to make (hopefully) the process even easier! I am hopeful.

ali

Ali,
That's fantastic.

Okay, starting my tax prep!

I've got a pretty good handle on my paperwork, to a point!

Starting to get tax stuff in mail, so I've got the files going to receive it on my desktop:

estate stuff

and

personal stuff

What I did this year back in the spring to get ready for a financial planner appointment was to put together a binder - it has been just the best thing.

QUESTION;
I really don't want to buy a binder every year, and all new tabs etc, but how can I archive this stuff, by category, or by year?

know what I mean?>\

I have current banking, plus debt, plus retirement tabs in there.....