Wednesday, May 29, 2013

Receipt Roundup

It's that time of year tax season!  I always keep a binder for January-December receipts   

The binder has a plastic sleeve (page protector) labeled with the name of each store that I frequently make purchases. I also have a "miscellaneous" sleeve for odd shops where I find some of my most favorite goodies.

The binder system makes it really easy to grab a receipt for a quick return or exchange.  The key is to file the receipts right away when you get home.  Make sure they are never left in a bag that can get thrown away.  I have a clear pouch in my purse that holds receipts for the week.  I clean out the pouch on weekends and file accordingly.

The standard write-off for teacher school supplies is $250, but my accountant says we can add to that total if I have the receipts to back it up!  So, this is a perfect system.  Also, I get the added bonus blow of easily seeing how much of my own money I spent throughout the year.  UGH!  

The receipt binder also helps with controlling spending and overall home management.  I can look to see where I am spending large portions of the family and school.  So, basically all of my money is spent on kids!  Go figure.  

Have fun with receipt rescue!

1 comment:

  1. Great idea. I am going to do this. My husbands spends lots of money on teaching supplies!