As we approached the deadline to file taxes for 2011 I have been hearing more and more questions about how to organize receipts that are eligible for a write-off. As a small business owner (and even homeowners), there are items that we purchase while we are at Staples, Home Depot, Office Depot and even Wal-Mart and Target that are eligible for a tax write-off and it is important that we have a system to document these receipts and keep them organized. Too many times the receipts find their way into the bottom of a purse, pockets, stuck in a checkbook, tossed onto the front seat of your car or even the trash - accidentally, of course. Here is a simple suggestion that I shared at speaking engagements last week - so I thought I would share them with you to help you keep your receipts organized.
1. Use a simple coupon holder that you can carry in your purse or in the glove compartment of your car. Instead of storing your coupons in it, however, identify each section for a month of the year. Coupon holders usually have 13 sections available so this works perfectly. Make it a habit to store every receipt into your coupon holder.
2. At the end of every month - of even at the middle of the next month: remove the receipts, scan those that need to be kept for tax purposes and eliminate (or shred) the rest of the receipts.
3. Using the coupon holder for receipts also helps keep receipts handy and available - should you need to return an item for any reason. You will save time and energy looking for the receipt in order to return your item.
I also have a simple tax file that I use to hold all of my papers that need to be set aside for tax purposes, such as our property tax information, quarterly church donations, school donations, etc. It is not broken down into categories. Throughout the year I am constantly placing paperwork into this file. Since I am not a "type A" personality, I am satisfied with knowing where I can find all of my tax paperwork. Of course, if this isn't your personality, you can (and should) set it up in a manner that makes sense to you.
Papers, Papers Everywhere! 
It's time for you to gather everything that you need to either do your taxes yourself or hand them over to your Bookkeeper and/or CPA to make it happen for you. Does just the thought of this stress you out?
In these times, you want to be sure that you have counted every legitimate deduction possible. This can mean bits and pieces of paper that could be found in places such as: the desk drawer, a mirage of file folders, some of them may be found on the computer or maybe they are even on the kitchen table stacked in one of those never-ending piles.
Developing a system to track your paperwork is even more important in 2012. If you are getting a lot of your papers emailed to you...Great! However, a computer is just a filing system too! Papers can get just as lost in your computer as they can on the desk of your home office. The job of quickly and easily finding paperwork requires a system that is simple and flexible. Is this possible? Absolutely!
Of course, managing your paperwork is all about having a system to do it! There are several things that need to be considered whether you are filing on the computer or filing paperwork:
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