How To Organize Your Blog Receipts For Tax Time

This shop has been compensated by Collective Bias, Inc. and its advertiser. All opinions are mine alone. #DymoandDone #CollectiveBias

I fully believe in the statement “the key to success is preparation.” I am a second generation entrepreneur, my mom owned a small business for years. Growing up, I watched her work her own system of organization for her business and personal receipts.  It was a system within a system within a system. I was about thirteen when I noticed it and her method seemed complicated at first. But after she showed it to me, I realized it really wasn’t.

I use a similar system for organizing and filing my receipts today and it feels like a little piece of my mom is still with me. She passed away when I was in my twenties, before I became a blogger an entrepreneur. There are so many questions about running business that I wish I could ask her, but I’m so thankful that I have this piece of her with me. Thanks mom, for handing this method of organizing receipts for small business down to me.

Growing up, the same accountant handled both the personal and business taxes for my mom. To her, it was important that everything be well organized, easily transported, and easily filed away after coming back from the accountant. Her motto was “better to be over prepared than under.” She used a system of envelopes within file folders and a handwritten log. I have a similar method, but I use spreadsheets that I can email to my accountant.

This year, to organize my receipts I am utilizing the  DYMO LabelWriter® 450 from Staples. It came in a completely priced value pack and had everything I needed to get started and included the DYMO LabelWriter® 450, 4 LabelWriter® Label Rolls (Appointment Card Labels, Shipping Labels, File Folder Labels and Multi-Purpose Labels) and the DYMO Label™ software. The DYMO LabelWriter® 450 Value Pack is now free when you purchase 4 LabelWriter label rolls!

Getting the LabelWriter® was great motivation to stop procrastinating and get organized for tax time. And, because sits nicely on my desk and prints labels with ease, it is a total time saver. I don’t have to hunt around to make sure I’ve got the right labels for my printer and hope they print correctly. Because I am so busy in life and work, I need things to work properly the first time! I’m sharing my method with  you today and I hope you can take pieces of it and make it your own.

Tips For Organizing Receipts & Tax Documents For Blogging And Small Business

Supplies Needed: 

• DYMO  LabelWriter® 450
• File folders
• Hanging file box
• Your tax documents and receipts

Gather your supplies and brainstorm the labels you’ll need for organizing your receipts and tax documents. I deliver one nice big box to my accountant that includes including our personal and household information and receipts.

These are my main categories and subcategories for 2016. Yours may vary.

• Personal – W9
• Personal- Medical Expenses
• Personal- Moving Expenses
• Personal – Student Loans
• Personal –  Misc Income (Interest, etc)
• Blog- Income
  • 1099’s
  • Sponsored Posts
    • Paypal Payment
    • Payment By Check
  • Taxable review items
• Blog – Expenses
  • Marketing
  • Post Receipts
  • Equipment
  • Hosting & Online Expenses (LeadPages, CoSchedule, and PostPlanner all fall into this category for me)
  • Travel
• VA Biz -Income
• VA Biz- Expenses
  • Marketing
  • Travel
  • Hosting & Computer Based Services

Make the labels using your DYMO LabelWriter® 450.

Label your files and file folders using the system you outlined above. Remember, my labels are just a suggestion! Make what you need! One of the great features of the DYMO LabelWriter® 450 is that it doesn’t use ink or toner. It uses thermal printing technology. Also, using it gives you the ability to print more than 60 custom label styles and layouts. AND, it integrates with your favorite computer programs like Microsoft® Word, Excel®, Outlook®, QuickBooks® plus you can easily print addresses from Outlook® Contacts or Mac® Address Book. (Can we just pause for a second to appreciate how awesome sending holiday cards will be now that I have this??!!??)

File away your receipts and tax information into their proper place.

From here, I let my accountant work his magic, knowing that everything is properly organized and he can call me if he has any questions.

The sky is really the limit when it comes to what I can create DYMO LabelWriter® 450. I got my feet wet organizing reciepts for tax time, but I can already think of all of the other projects I want to start now. The LabelWriter® 450 prints crystal clear barcodes, labels and graphics with 600 x 300 dpi resolution- every year I participate in a children’s consignment sale where I have to print my own barcode labels to place on my sale items. In the past, I have wasted so much time and money on traditional label sheets and printer ink trying to get my consignment sale labels printed. I am so excited that is no longer going to be my reality because I can utilize the LabelWriter® 450 to print 1 label or 100 labels , thanks DYMO!

As you can see, TheLabelWriter® 450 is a great solution for your labeling, filing and mailing needs. If you’re looking for even more tax prep inspiration with the LabelWriter® 450 head here!