The countdown to Tax Day has begun, keeping track of your tax-related information during the year can save many hours of frustration when preparing to file your return. As you prepare your return or meet with your CPA or tax advisor. Here are some ideas to make tax time less stressful.

Gather Tax Records All Year

• Save time when preparing taxes by keeping all tax information for the year together in one Colored Expanding File
• Start a new file for the current tax year in January, so you have a place to put records throughout the year
• File receipts and tax-related documents weekly so you can place them correctly

Group Records by How You File

• Separate documents into the categories you use for each part of your return
• Write the categories on the tabs and arrange them in the file in a straight line for quick reference
• Review previous tax returns for help establishing categories

Keep the File for Three Years

• Consult your tax advisor for advice on your minimum retention requirements.
• Choose from Smead's antimicrobial stock to protect the file from mold and mildew damage.
• Store files for all tax years in the same location

You'll be able to prepare your taxes in less time and feel confident that you have the documentation to support your return in an audit. Smead recommends using a Colored Expanding File to organize tax records.