Wyoming Breezes

shredding files March 2021 Over the last few days, I spent a lot of time preparing for the storm, cutting fabric, and shredding old files. Since downsizing to move, I minimize the paperwork/files that I keep. When the most recent taxes are filed and the paperwork has been returned from the accountant, I place the papers in the designated storage bin and remove the oldest file (keeping only seven years of paperwork) and shredding the papers.  Before I moved, I kept way too much paperwork, and my small shredder could not manage the bulk. The Print Shop in Riverton sold large bags that could be stuffed with paper to be shredded and then sealed. A shredding truck picked up the bags and shredded them.  By removing and shredding an old file once a year, my small shredder can easily handle the task. How do you manage your old files?

organizing my receipts for tax preparation January 2019 Sunday afternoon, I organized my receipts for the 2018 tax season. I keep an Excel spreadsheet for various categories and update the file every month. In January, I review the entire file and bundle the receipts for my records. When I receive all the necessary forms from banks, etc., I'll send the essential information to the accountant. I know the new tax law will affect deductions, so much of what I track may not be needed this year. Have you started working on your Federal Income Taxes?