Welcome to Week 3 of my Binders 101 series. I am pretty excited about sharing this week’s binder. I am sure you have heard me say it several times before during this series, but this is my favorite binder of them all. My Taxes binder is the one that has been organized since I did my original Binders 101 series in the beginning of 2014. I use it every year and it is very beneficial.
For this binder, I used an orange 1 1/2″ binder.
For the sections, I used the Universal Ring Binder Insertable Indexes (similar product). I like these simple and inexpensive dividers because I can change the dates I place in the tabs easily.
I think the IRS suggests that you keep 6 years of tax documents unless you have a different circumstance or had to file particular claims. Since I had more dividers, I decided to keep 7 years.
I organize my Tax binder according to year. The most recent tax year is in the front and the oldest tax year is in the back. Every year, I go through and remove the oldest year of information and insert the upcoming year information.
To ensure I collect the correct tax documents for the upcoming year, I use the Annual Tax Documents Checklist from the previous year. Check the bottom of this post for the link to download and use it for your binder. Then, I fill out a new checklist and place it in the beginning of that tax year’s section in my binder.
Check out all of the details on my video. It is easier to explain on video than writing.
Feel free to download and print the Taxes binder cover and the Annual Tax Documents Checklist to use for your taxes:
Download pdf here
Download pdf here
If you missed any Binders 101 posts and videos prior to this one, click on a link below:
Stay tuned in next week when we complete the Recipes binder together.