What documents should I set aside for taxes?
Choose labels for your light-blue Tax section according to your personal tax needs. For example, you may only need one Tax folder if all you rely upon for taxes each year is a W2 form. On the other hand, if you are self-employed or if you itemize deductions, you may end up using several tax folders. As a general rule of thumb, whichever documents you use to come up with your tax declarations will be sufficient for the IRS in case of an audit - nothing more is needed. If you are not sure what papers to set aside for taxes, take a look at your most recent tax return and see what supporting files were required. Many example labels are provided for just about any tax category. You may wish to consult a tax advisor to find out which deductions are available to you.