This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Filing Taxes Stress-Free: It's All About Organization

Stocks in this article: ACCO

KETTERING, Ohio, Feb. 19, 2013 /PRNewswire/ -- Filing Federal and State taxes is a major task weighing in on many Americans' to-do lists this time of year—and it's one that is typically procrastinated upon. ACCO Brands Corporation (NYSE:ACCO), a leader in branded office and consumer products and print finishing solutions, is helping alleviate the stress of this annual endeavor with several tax organizing tips.


"Disorganization can be very costly to all of us, eating into our valuable time and causing heightened stress levels. Disorganized tax documents are no exception," says Lissa Cupp, vice president, e-Commerce and Consumer Marketing, ACCO Brands. "By getting organized and planning ahead, not only can filing your taxes be virtually stress-free, but it also could result in significant time and money savings."

Compiled by the planning and organizing experts at AT-A-GLANCE ®, Day-Timer ® and Day Runner ®, the key elements of getting your tax materials organized are defined as the Three P's: Planning, Paper and Process.

Planning: More commonly than not, the issue at hand with tax filing procrastination is lack of planning. Tax preparation shouldn't be looked at through a small window of time but rather with a panoramic view of the entire year. Set up a monthly filing system for documents that will be needed to complete your annual tax forms. You can approach this in several different ways. For example, you can organize by categories (e.g., income, investment and deduction records) using large envelopes, expanding files or organizers designed specifically for tax materials. Color-coding within these can further expand your level of organization.

There is no single method that works for everyone. However, some type of year-round file system is a must if you want to lower your risk of errors and keep your stress levels at bay as you try to meet the hard deadline of April 15. Whether your process includes weekly or monthly updating is up to you—just be sure to break it down into manageable pieces so you don't get overwhelmed and the process doesn't snowball out of control.

Paper: An underlying issue that contributes heavily to tax-time procrastination is the quantity of information involved. This is primarily in the form of paper documents, most of which are mailed right to your door. We suggest erring to the side of caution and keeping any records that could be needed for tax preparation. Unnecessary documents can be purged once you've filed. Note that owners of small businesses or those who are self-employed typically require more documentation for their tax returns versus individual filers.

Here are examples of tax documents individuals should maintain throughout the year. They include but are not restricted to:

  • W2s
  • 1099s
  • Mortgage interest and property tax statements
  • Bank interest statements
  • Investment statements
  • Medical and charitable donation receipts
  • Account registers

Many planners and organizers have sections where monthly records can be maintained. Keep and file these sections as well.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs