Tips for Tax Procrastinators: Do better next year
You should also set up a filing system. This is especially important if you have a small business. Use file folders, envelopes, or any other filing system that helps you get the job done. Select some logical categories under which you can file your receipts, bills, bank statements, and the like. You'll thank me next year when all your items are already organized and ready for tax preparation!
By staying organized throughout the year, you're minimizing your workload at tax time and decreasing the chance of losing important tax-related documents.
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Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.