Recently, I found a really neat product for accumulating your tax documents and receipts throughout the year, so you can always be ready for tax time. It’s called FreedomFiler:
You can have one folder for all of your income statements, or numerous folders for “Income/W2,” “Business Income,” “Rental Income,” and so on. You can have a single folder for “Itemized Deductions,” or one for “Medical Expenses,” one for “Charitable Contributions,” and one for “Unreimbursed Business Expenses.” You can make the system as simple or detailed as you like. The beauty of the system is that no matter what paper you find, there’s a folder for it. And at the end of the year, everything is ready to hand over to your tax preparer. Check it out!
Deb Howard Greenleaf, EA, CEO and Principal, of Greenleaf Accounting Services provides virtual accounting and bookkeeping services and specializes in financial management to consultants, coaches, solo professionals, and other small business owners across the US. Deb is an Enrolled Agent (EA)—an IRS-licensed tax professional—and specializes in small businesses and entrepreneurs filing Schedule C or as an LLC. As an Advanced Certified QuickBooks ProAdvisor, Deb spends her day in QuickBooks Online and specializes in providing QBO support.
