Storing Important Tax Documents

Tax season is here, and if you are struggling to find all the necessary paperwork to bring to your tax preparer or accountant, it might be time to reevaluate your current storage method. Ensure you keep all documents safe, secure and organized for tax season with these tips:

Know What to Keep
Not only do you need to keep certain documents, but you also need to keep them for a certain amount of time. Educating yourself before you go through all of your paperwork is a good place to start. Reach out to your accountant and ask about specific documents you need and what you can toss out after you have finished your taxes.

“Stashing important paperwork in the basement or attic may not be the best idea.”

Also make sure you keep any paperwork for the appropriate amount of time. For example, paycheck stubs or monthly mortgage statements don’t need to be kept permanently, but annual tax returns, stock and bond certificates and titles and deeds should be kept forever.

You should shred the items you are throwing away, such as bank statements, non-tax-deductible receipts, and warranties for items you no longer own. This will help protect you and your identity.

Create a Filing System 
Invest in sturdy filing cabinets or containers and place all essential documents inside. Develop a system so you can quickly find important documents in a pinch.

Place items in folders with clearly marked labels so you know what is inside without needing to take a peek. Color-coding is another great technique that can help you stay organized all year long.

Store Documents Safely
Good Housekeeping noted stashing important paperwork in the basement or attic may not be the best idea. Leaks, dust and flooding can destroy these items and leave you in a tough situation. Avoid this by having a plan. Consider storing your organized system in a climate-controlled storage unit. By doing this, you can feel better knowing all documents are safely tucked away in a protected space.

Check out one of the many SecurCare Self Storage facilities located all across the country. The friendly and professional staff are eager to help fulfill your storage needs. Reach out today and find out about available storage units and pricing in your area.