Tax Prep from the daughter of a CPA

My dad owned his own tax business and LOVED getting the most money possible for his clients. Growing up I remember him working tirelessly for each of them and never raising his rates because he loved them so much and considered each one a member of the family. This has taught me so much as a business owner. Yes, everyone wants to make money, but clients should be the focus—treating each person as if you would like to be treated. The other lesson I learned was about organization! Many of my dad’s clients would send him BOXES of receipts and find themselves in a mess year after year.

This is what today’s post is about…starting the year on the right foot by developing a system that works for you and is sustainable throughout the entire year. You may have other systems or ideas that work for you, but I am going to share what works specifically for me and my business.

At the beginning of the year, I separated my receipts into categories and came up with these:

These bins are from Target and are only $5 for 5!

I know it seems excessive and a tad OCD, but if you’ve met me you know that basically describes me. Lol

Throughout the year, I add receipts into the bin category and don’t have to worry about it anymore. No boxes of receipts mixed together…all of them separated by category in an easy to use system. Yes, you can use file folders for the same purpose, but I had so many receipts for clients that this worked for me.

By the end of the year, here is what I ended up with.

It looks a tad messy even for me, but I loved that they are accessible and easy to find.

At the end of the year, I transfer all of them do this:

After prepping for my taxes, I can store this easily in the attic. The items in the box and this box are both from The Container Store and were not too pricey.

Good luck organizing your receipts and reach out to me if you have any ideas of your own!

*disclaimer-all of the ideas in this post are personal suggestions and should not be solely used to make tax decisions. Please see your tax professional for further advice.

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