Friday, January 13, 2006

Prepare yourself for the tax time(1): Collecting forms

Tax season is around the corner. You may need a lot of documents and forms when you file your tax return. So it would be wise to keep them handy in advance so that you can easily reach it whenever you need them.

Basically, you will received the forms from different sources starting from February. So January turns out to be a good time to make the list for the incoming documents: employer, bank (especially when you have a bunch of accounts open in order to get the bonuses and promotions), brokerage firms, loan companies, mortgage and property tax (if you are a house owner), school (for the tuition payment) and so on......

Every year I have a big envelop for all these forms and write down the list on the envelop. Then I will cross it off whenever I receive one. This year I only got the dividend statement from the espp administrator so far.


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