Storage Tips for Tax Season

 

Tax season is a stressful time of year for many people. Navigating the laws, collecting the right forms and trying to get everything filed on time can be quite an ordeal. With so much paperwork, it can be difficult to determine what to keep and what to discard of your tax documents.

What to Keep

It is recommended that you keep tax returns and supporting documents for at least seven years. The IRS has three years to challenge information in your return and six years to conduct an audit, so the ‘seven year rule’ is a good practice to play it safe.

However, all that paperwork can add up and create clutter and disorganization in your home or office. A BudgetSelf Storage unit is a safe and convenient way to store those extra tax files. A small storage locker is an ideal, cost-effective document storage solution for many people. However, we offer storage units up to 10x30 square feet in size.

Stay Organized

Before placing your tax documents in storage, you will want to create a filing system so you can easily find things if you need them later. A stack of randomly scattered papers is not going to help you in a pinch! You can purchase inexpensive file boxes from an office supply store or boxes at your local Budget Self Storage to hold your documents. You will want to organize your files by the year. Other potential categories for filing may include:

·         Income (pay stubs, W2’s and 1099s)

·         Medical bills

·         Donations

·         Business deductions

·         Child care costs

·         Student loan payments

·         Completed tax returns

These are examples of helpful ways to organize your tax documents, but you can customize your filing system in a way that makes sense for you. There are also pre-made kits available for tax document storage that can make this process even simpler.

Protect your Information

Once you have organized and stored away your needed files, you will want to properly dispose of extraneous documents. Identity theft is a serious risk with these types of documents, since savvy thieves can potentially glean enough confidential information about you to open a line of credit. Last year, about 16.6 million Americans became victims of identity theft, and consumers lost nearly $57 billion to this crime.

You can protect yourself, your finances and your identity by simply shredding any sensitive documents. Budget Self Storage now offers on-site shredding at nine locations. Shredding is not just for documents – we can shred computer hard drives, x-ray film, CD’s, DVD’s and old floppy discs. Watch our video to learn more about Budget Self Storage ShreddingServices.

When you are ready to store, shred and put the 2013 tax season behind you, find a Budget Self Storage location near you. Budget Self Storage is open 7 days a week, requires no set up fees or security deposits, and protects your belongings with video cameras, CCTV and electronic gates. Tax season is stressful enough! With Budget, self storage doesn’t have to be!