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Tips & Tricks Tuesday: Tracking tax paperwork

Tuesday, March 9, 2010 by Emily Boyd

Tax checklist

Doing your taxes is never fun (unless, you know, you're one of those people who're into that sort of thing). That's why erikdw's tip is great — it takes away some of the stress when tax time comes around:

When I do my taxes each year I have to gather together a copious amount of paperwork (ESPP, mortgage, property taxes, W2s, many 1099s, cost basis for various things, etc.).

In the past I have just used a plain text document to track the gathering of the various paperwork.

However, this year I am using RTM to track this. I created a "Taxes" list, and I have just added items for all the forms I have needed in the past (by harvesting that info out of an old text document), and when I remember another form then I add it to the list. If I receive a form in the mail then I check off the entry. Some of the paperwork I need never arrives though, so instead of needing to remember to print it out myself, I can look at my Taxes list and see that I still have not received it and probably need to print it out. Once I have completed all my items, I know I am ready to do my taxes.

Then next year I can just "uncomplete" all of the items from this list and start the cycle again.

An added benefit is that this is a central place for me to note any new taxable events/account openings that occur during this year, so that I will remember to gather paperwork for those items when tax season rolls around again.

Obviously, you should not put account numbers or any super sensitive info like that into your TODO lists. e.g., for investment accounts, I just put a bank/brokerage name, account type, and form needed (e.g., BofA savings 1099-INT).

Thanks for sharing this tip, erikdw! You're our Tips & Tricks Tuesday winner this week. :)

Do you have a suggestion for our weekly Tips & Tricks post? Got an interesting set-up or idea? Head over to the Tips & Tricks forum, add a new topic, and let us know how you use Remember The Milk. Each week we'll give away a 1 year Pro account to the user whose idea inspires the Tips & Tricks Tuesday blog post for that week.

Posted in: Tips & Tricks