10 tips to get organized in 2010
| Published: January 11, 2010 – 9:30 pm
1. Set up a file folder to retain tax-related documents that you accumulate during the year.
2. Keep your 2009 income tax return in a safe location so it may be easily retrieved if you need it during the year.
3. Keep track of business, charitable, and medical mileage by using a logbook.
4. If you buy, sell, or refinance any real estate during the year, keep a copy of the closing statement, (HUD 1 statement, settlement statement) in your tax file.
5. If you make non-cash (thrift shop) charitable contributions, keep a record of the date, name of the charity, specific items, amount of contribution and how the value was determined. Please refer to IRS Publication 561 for details on how to determine the value of non-cash items donated to charity.
