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Get Your Financial Records in Order: Advice from CPAs

Unorganized or incomplete financial records? It's time to take control! Learn how to get started, sort your taxes, banking, investments, retirement plans, insurance policies, and home-related documents. Keep everything in check and stay financially organized. Weekly and yearly overhauls will help you stay on top of things. Don't let clutter be the enemy.

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Get Your Financial Records in Order: Advice from CPAs

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  1. Setting Your Financial Records Straight Advice from CPAs

  2. Setting Your Financial Records Straight • Unorganized or incomplete financial records? • Save every piece of paper? • Throw out every receipt? • It’s time to TAKE CONTROL

  3. Setting Your Financial Records Straight • How do you get started? • Start a filing system • Current Files • “Dead” Files • Safe deposit box • Electronic filing system

  4. Setting Your Financial Records Straight • Sorting your financial records • Taxes • Banking • Investments • Retirement plans • Insurance policies • Home

  5. Setting Your Financial Records Straight • Taxes: • Start a file for this year’s tax return • Income records • W-2 and 1099 forms • Back-up documentation for deductions • Receipts • Cancelled checks

  6. Setting Your Financial Records Straight • Banking records: • Savings account statements • Checking account statements • Cancelled checks

  7. Setting Your Financial Records Straight • Investment Accounts: • Save all paperwork • Purchase of the investment • Its sale • Any other activity • Saving investment records is a • tax-saving necessity

  8. Setting Your Financial Records Straight • Retirement Accounts: • IRA, 401-K, and any other employer • sponsored plan • Enrollment papers • Statements • Beneficiary designations • Contact information

  9. Setting Your Financial Records Straight • Insurance: • File for each policy held • Policy numbers • Issuing company name • Agent name • Those covered on policy • Beneficiaries

  10. Setting Your Financial Records Straight • Home-related: • Purchase • Sales agreements • Closing documents • Replacement costs • Inventory of belongings • Home improvement

  11. Setting Your Financial Records Straight • Safe Deposit Box • Birth and marriage certificates • Adoption papers • Citizenship documentation • Divorce papers • Deed to your house • Titles for your cars • Will: signed original

  12. Setting Your Financial Records Straight • Personal Financial Overview • Compile a list of your assets • Record of your debts • Catalog of important documents • Contact information to any financial advisors, attorneys, CPAs, etc.

  13. Setting Your Financial Records Straight • How do you keep it all under control? • Weekly • Yearly overhaul • Clutter is the enemy

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