Tax Deadline Day

Today is April 15th, hopefully by now your taxes are filed and finished. Use today as an opportunity to weed out the old and make room for new files and papers. Get everything related to your 2008 taxes together and place them in a bankers box labeled 2008. Hopefully by now you have created 2009 folders and papers are accumulating in them. As you use the files and they grow through the year, you are going to need to make room for incoming papers. Getting 2008 out will open up some needed space. I suggest archiving the past 7 years paperwork in bankers boxes. After 7 years, throw away all of the documentation and keep only the tax return. For specifics on what to keep and what to toss check out our Records Retention Schedule. Spending time on having a good system to keep the paper flowing is a worthwhile investment. When papers have a lifespan and you know how the system flows, it's so much easier to find what you need when you need it.