How to Prepare for Tax Season

How to Prepare for Tax Season

Posted by Bindertek on Jan 30th 2023

It’s that time of year again. You know, when you have to dig through your mail and emails searching for documents that you know you kept but can't seem to find? Yup — tax season is here. It always tends to sneak up on us, but this year, we're ready to get organized. And you can, too! Read on for ways to use Bindertek binders to calm the chaos of tax season. 

Approaching your taxes with a plan in place can make filing every year a piece of cake, and having a binder dedicated to your taxes is an excellent way to get started. When it’s finally time to submit your taxes, you won’t be panicked and searching for lost items. Everything you need will be right in front of you! Some of our favorite binders for the job are: 

The One-Touch Classic 3-Ring Binder. Equipped with our famous, easy-to-open, one-touch ring mechanism, this durable binder can withstand years of use. It also has a built-in table of contents inside the front cover, allowing you to label sections by document type. Pair it with index tab dividers to sort and organize all the documents you need. 

Curious what documents you should have ready? You'll want to reference a list like the one here. Getting your income statements, deductions, and tax credit documents in order will make filing a breeze. 

An Advantage Classic 2-Ring Binder with Slipcase. Two-ring binders are the hidden gem of the binder world! Featuring a compressor bar that holds your sheets in place and an easy-open lever mechanism, 2-ring binders are as functional as they are unique. But they really shine when you search for a document — because the rings are in the middle of the page, you can easily flip down the top third of the page if you’re looking for names or titles, or fold up the bottom third of the page to look for page numbers or other info. We love recommending this binder slipcase combo because your documents and loose-leaf pages will stay exactly where you need them in the protective case. 

Another well-loved option is the Heavy-Duty Round 3-Ring Archival Binder. Many people choose these binders for their longevity. Ruggedly constructed, archival binders are tough to beat. With its heavy-duty hardboard cover and metal-reinforced spine, this is a binder you can count on over and over again. Do you like to hold on to your tax records long after they’re completed? If so, this might be the binder for you. 

Why use a binder? It’s a great place to hold many miscellaneous documents at once. It’s also extremely portable and easy to carry with you to your tax professional if you use one. Consider using numeric index tabs to sort and organize your documents. You can use the top sheet to create a checklist and check off each item as you add it to your binder. Let the system do the work so you don’t have to. 

If you have any small receipts or other loose papers that can't be hole-punched, grab a binder envelope. It can store any extras that you think you might need, plus a pen, pencil, or calculator. 

Another excellent tip while preparing for tax season: keep deadlines front and center. Give yourself some extra wiggle room and peace of mind by planning check-ins for documents that you haven’t received yet. Plan to check in with your employer, mortgage company, or even other income sources by specific dates in case you don’t have all your documents ahead of time. It never hurts to be proactive so you can be sure that you have what you need! Write down important dates on a Magnetic Glass Board or a trusty Notebook. 

The good news this year? The tax deadline in 2023 will be April 18th. So, that will give you a few more days to get everything in order! 

If you need a quick little recap of best practices, take a look at the following video: