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7 Organizational Tips to Make Tax Filing Easy

Tax Information Tax Planning
A cartoon image of a file folder and a lightbulb indicating tax organization ideas

File your taxes with confidence.

Your max tax refund is guaranteed.

Updated for tax year 2024.

There are often two types of tax filers: those who neatly file their tax information and receipts away in color-coded file folders in preparation for tax season and those who scramble to gather all their tax forms at the last minute.

Even if we started the year with the intention of staying organized, many of us often find ourselves in the latter category. It’s nothing to be ashamed about — life happens, and sometimes, organization goes out the window. However, if you spend even a little time organizing your tax information now, you’ll likely find filing taxes much easier when the time comes.

Use the following tips to easily declutter your space and organize your tax records for better tax preparation next year.

1. Designate an easy-access place for tax documents.

Businesses start mailing tax forms to taxpayers in January. When they begin to arrive, take a moment to pull out a file folder, label it, and set it somewhere safe. As new tax documents come in, add each one to your new Tax Day folder so everything you need is in one place at tax time.

It’s essential to keep your folder easily accessible. If it’s not easy to access, you’ll be less likely to use it consistently. Even if you plan to scan your documents and make digital copies, you still need a place to store them temporarily. Choose something you can reach with one hand, such as a shelf or folder, even while holding a stack of mail. If you don’t let that Form W-2 or Form 1099 hit the kitchen counter, it won’t get lost.

Most common tax forms are sent out by late January, so if you’re missing a W-2 or 1099 in mid-February, track it down. Having everything you need in one place sets you up for a Tax Day win.

2. Group tax documents by category.

If you DIY your taxes, entering information in TaxAct® is much easier if you separate your income, deductions, and tax credits information. Depending on the complexity of your tax return, you may want to use file folders, paper clips, boxes, or other methods to categorize documents. This can be done with paper or digital files — whichever is easier for you.

If you are a business owner, run a side gig, or are self-employed, you must keep each business’s information separate. Whether you’re filing your own taxes or handing them off to a tax professional, this will help simplify things when tax season rolls around.

3. Use last year’s return.

Last year’s return is a great starting point for this year’s . By looking at your return from last year, you can quickly see what tax information you probably need now. In addition, you may need to use some information from last year, such as depreciation or inventory information, to complete your new return.

4. Consider if you’ll itemize.

Most taxpayers tend to take the standard deduction. However, if your itemized deductions add up to more than the standard deduction you qualify to claim, itemizing might be a better idea.

When you file with TaxAct, we can help you run the numbers each way to see which choice works best for you.

Here are the standard deduction rates for tax year 2024 in comparison with 2023:

Filing Status 2024 Standard Deduction 2023 Standard Deduction
Single or married filing separately $14,600 $13,850
Married or surviving spouse $29,200 $27,700
Head of household $21,900 $20,800

If you plan to itemize your tax deductions, a good rule of thumb is to start a checklist of what you need to keep track of. For example, you may need to get tax information from your childcare provider, or you may need to figure out the number of square feet in your home office.

You should also keep a record showing how you estimated or allocated amounts between different categories. Aside from being necessary if the Internal Revenue Service (IRS) ever questions your return, that tax information may be helpful in future tax years.

5. Know how to organize receipts for taxes.

Many tax deductions and credits require tracking your related expenses throughout the year. It doesn’t matter if you’re keeping track of your charitable donations, medical expenses, or small business expenses — keeping receipts organized can save you a lot of stress when trying to claim write-offs during tax time.

Color-coded folders can come in handy here. Just like your tax forms, you’ll want to separate your receipts into categories. For instance, if you run a business, you may have a “home office expenses” and a “vehicle expenses” category. As a parent, you may have separate folders for education costs or childcare expenses.

An easy way to combine digital and hard copies is to snap, save, and sort them into your phone’s photo albums. That way, they’re all in one place and will ensure you have a digital copy as a backup in case you lose the original. Expense-tracking apps can also be useful if you prefer digital records.

No system is inherently better than the other; it’s all about which method is easiest for you to stick to. If you decide to go digital, just ensure your records are backed up somewhere safe.

Tax Tip: Did you start a side gig last year? We have some helpful articles for those in the sharing economy and online sellers that may prove useful when you e-file this year.

6. Review the year’s milestones.

Did you get married this year? Have a baby? Buy a house or car? If you made a significant life change, congratulations!

Since Uncle Sam isn’t a traditional “cool uncle,” don’t expect a gift from your registry. Instead, you might need some additional documentation and possibly extra tax forms.

For example, if you got married, check that your filing name matches what’s on your Social Security card. If you moved, make sure you update your address — you can do that as you file. You’ll also want to decide how you and your spouse will file this year. You have different tax filing status options when you get married. Remember, even if you tied the knot right before the ball dropped in December, the IRS considers you married for the entire year. Make sure your information reflects that!

To help you prepare, check out 6 Common Life Events That Change Your Taxes.

7. Find a tax partner that helps you succeed.

TaxAct is designed to help you hang on to more of what’s already yours. We’ll walk you through each section of your taxes, step by step, prompting you with tips for deductions and credits that you may not know about.

Best of all, our tax preparation solutions help you to prepare your taxes quickly so that you can get back to your life. And isn’t that the kind of partner you want in your corner on Tax Day? We’re ready to help you succeed.

The bottom line

By addressing little things early and clearing away potential filing obstacles, when you sit down to e-file your taxes, there’ll be nothing standing between you and filing success — except maybe a pile of snacks. And who are we kidding? You’ll need those.

This article is for informational purposes only and not legal or financial advice.
All TaxAct offers, products and services are subject to applicable terms and conditions.

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