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With tax season upon us and the hint of Spring around the corner, now is the perfect time to focus your spring-cleaning efforts on your financial documents and be ready for the year ahead. Here’s what we recommend you do:
Have A System
Store all of your important papers all in one place. A traditional filing cabinet works great, with separate folders allocated for your utility bills, pay stubs, bank statements, credit card statements and investment information.
Keep similar statements together so you can find what you need quickly. Safely store your important documents in a fireproof and water-resistant container.
To Keep Or Not To Keep
You don’t have to keep everything forever. Here are some rules of thumb to guide you.
When you have identified what you no longer need to keep and store, don’t just throw them in the trash. Shred them. This will protect you from identity theft, an all too common and devastating problem that results when dumpster divers go through your trash in search of personal information. Then they use it to make purchases or apply for new credit cards.
Donohoo Accounting Services is here to help you with your financial paperwork, tax preparation and business and personal tax returns. If you have questions about which financial documents you should keep, which you should get rid of, or if you need help with your taxes, give us a call at 513-528-3982. We would be happy to assist. For more tips and our latest updates, check us out on Facebook, Twitter or LinkedIn!
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