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Last Minute Tax Tips
Hopefully, you’re not a tax procrastinator like some people we know (smile), and already have your prepared taxes in Uncle Sam’s hands. If this isn’t the case and you’re still working through this somewhat stressful time of the year, In Her Shoes has a few last minute tips to help you get it together. Following are ten categories that you can organize your tax files in to help prevent lots of stress and save precious time:
Income: Include pay stubs, W-2s, 1099s, interest statements, and dividend statements.
Medical: File receipts for medical expenses, and health insurance out-of-pocket expenses.
Donations: Include receipts for both cash and non-cash donations.
Real Estate: File interest statements from mortgage, tax assesments.
Child Care: This file is for child care payment receipts.
Tax Correspondence: Include any important letters from the IRS or your state revenue service.
Student Loans: File statements of loan interest paid.
Misc. Receipts: Add any receipts that might be needed for deductions.
Payments: Include any records of advance payments.
Old Tax Papers: File your old tax returns by year.
Even if you’ve already filed for 2008, bookmark this post for next tax season. Taking time out to set up a system now will make it easier to organize your paperwork throughout the year. Happy filing, ladies!