Office Supply Products That Will Make Tax Preparation a Breeze!
Tax season can be a disorganized, confusing mess if the office isn’t properly prepared, and unfortunately, this disarray leads to missed opportunities to claim credits and deductions on the final bill. No small business can afford to lose out on tax deductions, so it’s vital to get everything in order long before tax time arrives. How? It’s as simple as having the right office supplies. The following supplies can help keep your office and tax information in order so that tax preparation is a breeze:
- File Folders: A place for everything, and everything in its place! File folders are an absolute necessity if you hope to keep your financial information organized and easily-retrievable. File everything regularly, and arrange each folder so that the most recent documents are at the front, and the oldest at the back. If a document is relevant to more than one file folder, make copies. Expanding file folders are especially useful for those extra thick stacks of tax-related documents.
- File Boxes: Even folders get messy when they are stacked all over the office, so keep them in order with some simple file boxes. If your paperwork is fairly sparse, you should be able to keep tax documents and related papers for each tax year in a separate archive box in storage, or organized into one box. It is important to keep these documents in case of any future tax audit.
- Labels: The best filing system is of no use without proper labeling, so be liberal with these, and specific as well. Use dates on each label whenever applicable.
- Sturdy Envelopes: Keep envelopes and mailers in at least two sizes, for letters and small packages, so that you are prepared to exchange correspondence with your tax preparer, accountant and the tax office. Send your documents in a large, sturdy envelope to avoid damage en route.
- Office Paper: Computer paper is necessary to have on hand in order to make copies of important documents and send professional company letters. With Earth Day coming up, consider using 100% recycled paper for all your tax printing needs.
- Other Supplies: Tax season is also a good time to stock up on paper clips, binder clips, staples and ink & toner to ensure you have everything on hand for printing and organizing receipts and other related business documents.