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We have a big empty (and dry) Coca-Cola cooler that is empty save for all our tax documentation. We keep every receipt, slip of paper, cancelled checks, check stub, in the hopes we can write much of it off. This actually takes some practice and some stick-to-it-ivness. It’s so easy to lose a receipt or a piece of mail that holds some free money for you in it’s contents. My wife and I keep all our records, mail, bills, stubs, mutual fund certificates, retirement bond certificates, cancelled checks, transaction receipts, bank account statements, credit card statements, paid bill stubs, ATM transaction slips, restraint receipts, etc., etc. Even if we know that some of these documents cannot be used for a tax deduction, we still save everything to make sure. We can easily put the unused documents aside during the sorting.
Other Entries That Might Interest You:Income Tax – If You Are A Gambler – Keep Track Of Losses--->This sounds ludicrous to some folks, but if you are a gambler with any kind of betting frequency, keep track of all your losses over the years. Actually keep good, clean records of all your gambling losses so you can....
Retirement – How Much Do Need Per Month To Retire?--->It's important to be honest with yourself in understanding how much money you will need to live comfortably in your later years. Do you need a trip or vacation every year, or every month? Do you need to play golf....
Retirement – More On Residual Income--->To touch a little more on residual income, I want to stress the power of this type of income stream. I'm not taking about Amway (although that has worked in the past) but I'm talking about any product or service....
Financial Definitions – Authorized Shares--->The term "authorized shares" (or authorized stock) means how many shares a company can legally sell (or create) according to their company articles and official documentation. Just because a company is authorized to create a said amount of shares (or....
Income Tax – Consider A Deductible IRA--->A deductible IRA is pretty well a no-brainer as you can save considerable money over time. All your IRA contributions are will result in a portion becoming 100% tax deductible (hope that makes sense....or should I say cents), and if....
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