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Posted by Lillian White (MONEY FORUMS: 5, Answers: 0)
Asked on November 23, 2015 12:23 pm
For years, I have used one file folder for each year to keep paper I'll need when it's tax preparation time just as Beth suggests. Also, I use Yodlee's free Money Center account aggregation tool to monitor my investment, bank and credit card accounts.
I use Mint, Freshbooks, Expensify and envelopes and folders to organize my financial paperwork.
I'm really simple. I just collect all my recipes in one large paper envelope. I usually attach a note on what it was for or why it is important. Come tax season, I just take everything out and sort it then. Works for me!
I usually keep one folder for each tax year and collect any paperwork I think I need for taxes in that folder. That would include W-2's and 1099s (for investment earnings, interest, miscellaneous income, etc.), anything supporting expenses I am claiming or deductions I am claiming.