tag:blogger.com,1999:blog-4238401484560614586.post2158659253948791823..comments2023-07-21T03:00:15.795-07:00Comments on Jeri’s Organizing & Decluttering News: Filing Made Super SimpleJeri Danskyhttp://www.blogger.com/profile/01647833266269245240noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4238401484560614586.post-75686619032369196032010-07-12T22:51:55.691-07:002010-07-12T22:51:55.691-07:00Hubby's preferred method is to keep every sing...Hubby's preferred method is to keep every single little bit of paper that comes into the house. My preferred method is to throw out every single bit of paper. One year I accidently tossed some papers he actually needed to keep. Opps.<br /><br />So, now, I scan and ditch. I keep hard copies only of things I need for tax and warranties. I also keep scanned copies of these. I name my files by the date, the shop/retailer/etc and/or purpose. (eg we have 2 cars & a trailer - registration renewals are called by the number plate). It's so much easier to find electronic files using the search function.<br /><br />I also go online and download manuals for new appliances, and again call them something logical.<br /><br />I'm slowly whittling 16 years of saved papers down to a single accordian filing box - mostly tax papers (because I believe we here in Oz still have to keep things for 7 years).<br /><br />My goal is to ditch the ugly, 3 drawer filing cabinet that has two drawers of ... ummm ... stuff, and only one drawer of filing.SueBKhttps://www.blogger.com/profile/13484316295832915889noreply@blogger.comtag:blogger.com,1999:blog-4238401484560614586.post-41913672654654033142010-07-12T15:35:28.046-07:002010-07-12T15:35:28.046-07:00I've been a fan of the one box system for quit...I've been a fan of the one box system for quite awhile. There's less agony for me sorting through it once a year at tax time than filing more frequently.<br /><br />Just wanted to mention something about keeping records for the IRS: it's no longer necessary to keep everything for seven years, as we've been told for ages. Here are the guidelines from publication 552(for individuals; small businesses have their own guidelines), available at the irs.gov website.<br /><br />(1) Owe additional tax and #2, #3, and #4 do not apply to you – 3 years after filing year<br /><br />(2) Do not report income that you should and it is more than 25% of the gross income shown on your return - 6 years<br /><br />(3) File a fraudulent return - No limit<br /><br />(4) Do not file a return - No limit<br /><br />(5) File a claim for credit or refund after you filed your return - The later of 3 years or 2 years after tax was paid<br /><br />(6) File a claim for a loss from worthless securities - 7 years <br /><br />Property records should be kept until expiration of the period of limitations after the property is sold. Also, your insurance company or creditors may require you to keep certain records longer than the IRS limits.Cynthia Friedlobhttps://www.blogger.com/profile/12678323220024869277noreply@blogger.comtag:blogger.com,1999:blog-4238401484560614586.post-59471764438168057772010-07-12T14:50:12.227-07:002010-07-12T14:50:12.227-07:00Love these methodologies. Nice and simple.Love these methodologies. Nice and simple.Anonymousnoreply@blogger.com