Simplifying Tax Season: How I Organize My Documents

Tax season can feel overwhelming, but having an organized system makes it much easier to manage. In this post, I’ll share the system I use to keep all my tax-related documents tidy, accessible, and ready for my accountant. I’ve included examples for different types of documents and assets and screenshots of my folder structure to help you visualize how it works. At the end, I’ll show you how to create a simple spreadsheet to guide your accountant through your files.

Step 1: The Folder Structure

I use Google Drive to store and organize all my tax documents. Each year has its own folder (e.g., "2024 Tax Documents Daniel"), and within that folder, I create subfolders for different categories:

• Banks and Brokerages

• Personal Real Estate Portfolio

• Commercial Real Estate and Syndications

• Work

Each subfolder is further divided based on document type. For example, under "Personal Real Estate Portfolio," I’ll have folders for:

• City/County Taxes

• Income Statements

• Insurance

• Mortgage 1098s

• Property Management 1099s

This setup ensures that every document has a clear home. Take a look at the screenshots of my Google Drive for a visual example of how this is organized.

Image 1: Folder Setup in my Google Drive

Image 2: Folders in my 2024 Tax Folder

Image 3: Subfolders in my Personal Real Estate folder

Step 2: Naming Documents

A consistent naming system is key. Each document is named in a way that makes it instantly identifiable. Here’s how I structure names:

1. Banks and Brokerages:

   • Format: Bank/Brokerage_Name_1099_Year_Owner

   • Example: Ally_1099_2024_Daniel

2. Personal Real Estate Portfolio:

   • Income Statement: Property_Name_Income_Statement_Year

     • Example: BlueRidge_Income_Statement_2024

   • Mortgage 1098: Property_Name_Mortgage_Provider_1098_Year

     • Example: BlueRidge_Rushmore_1098_2024

   • Property Taxes: City/County_Taxes_Year_Property_Name_Tax_Agency

     • Example: Memphis_City_Taxes_2024_Redvers_Debby_Aden_SpringShadow

3. Commercial Real Estate and Syndications:

   • K-1 Statements: Entity_Name_K1_Year

     • Example: GPCMAlabamaLLC_K1_2024

4. Work:

   • Tax Documents (Japan): Gensen_Name_Year

     • Example: Gensen_Daniel_2024

By using this naming system, I can quickly locate any document when needed.

Step 3: Providing Context for Your Accountant

To make life even easier for my accountant, I create a spreadsheet that acts as a roadmap to my folders. Here’s how it’s structured:

Image 4: Tax Document Roadmap

This spreadsheet ensures that my accountant knows exactly where to find each file. It’s also a great reference for me when I’m double-checking my files before submission.

Step 4: Keeping It Up-to-Date

Organization isn’t a one-time task; it’s an ongoing process. Whenever a new document arrives, I:

1. Save it to the correct folder immediately.

2. Name it according to the system.

3. Update the spreadsheet with its location.

Final Thoughts

Tax season doesn’t have to be stressful. With an organized folder structure, a consistent naming system, and a detailed spreadsheet for your accountant, you’ll save time and headaches. Take a look at the provided screenshots for inspiration, and start building your own system today. If you have any questions or tips for organizing tax documents, let me know in the comments below!