Income Tax and File Organization

Income Tax and File Organization

Well, it’s that time again—time to report our income to the federal tax authorities. Are you ready? Being organized about taxes is both wise and responsible. If you’re due a refund, better it’s in your bank account than the government’s, right?

Along with taking care of taxes comes organizing our files. I know this is a pain! That’s why I really like the system I discovered a few years ago called Freedom Filer. I’d love to share this with you to simplify your file organization.

It’s a color-coded labelling system that tells me when to move old files to storage and start new files. The turn-around is the easiest I’ve ever found.

Did I mention the system is self-purging? That’s one of the best benefits! It operates on an odd-year, even-year premise so I always know which year is current and which is last year, because of the label colour.

The basic system is a series of printed labels that I use on my own manila folders and can sub-divide topics according to my needs. However, the company offers kits that include folders as well as hanging files and a filing container, depending on one’s needs and preferences. Instructions for use and storage envelopes for the purged files come with different Freedom Filer packages.

Now, flashing back to the days BF—before Freedom Filer. I used to empty my files every year after preparing my income tax filing, so if I needed to refer to something from the previous year, I needed to dig around to find it in boxes in my storage area. AF—after Freedom Filer, I simply consult last year’s files in the same file drawer, with the label colours telling me which are last year’s and which are this year’s files.

There’s another benefit I really like. Freedom Filer sends a quarterly reminder to update your files. You know how fast time flies and the months pass so quickly, it’s too easy for these dates to slip by. I really appreciate these reminders, even if I don’t get to the task immediately; it jogs my memory to put this task on my to-do list. Then the actual doing of all this doesn’t get out of hand and become monumental.

Please have a look at my Freedom Filer page for a discount code to try out the system? You’ll have time to order so there’s time for your choice to be delivered before income tax time. Why not simplify your life and paper?

What filing system do you use? Why does it work or not work for you? I’d love for you to join the conversation in the comments box below.