Expert Q&A
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Email to a FriendWhen should I start getting my tax records together for filing?
By Aiman Latif - Aiman's Bookkeeping, Payroll & Tax Services
Answered 5 months ago
I suggest that you should get your tax records together and file them on regular basis. Setting up a separate tax file can help us stay organize, save time and trouble. We can organize our files under following categories:
1. Last year tax return and corresponding documents
2. Income
3. Medical
4. Real Estate
5. Child Care
6. Donations & Charities
7. Student Loan received, student loan paid and Interest paid
8. Child and dependent care
9. Other important documents, such as letters from IRS, mileage log (if necessary), improvements to business or rental property, tips from job log (if necessary), etc.
10. I think it is also nice to keep a note book to list all the changes in the tax law for the new tax year and other things to remember at the end of year, etc.
