Over 33 percent of the U.S population has experienced identity theft. And that’s why regardless of whether you find it hard to stay organized, or not, leaving any personal documents lying around is a bad idea.
However, being careless with your tax documents, in particular, comes with a different set of problems. So, if you need more incentive to stay organized, here are 5 reasons why you should.
1. Allowing Access to Your Personal Information
Often, people focus on keeping the papers they need organized but pay little attention to properly disposing of papers they don’t need. This just shouldn’t be an option, especially if you’re running a business.
The wrong people could access your information and use it against you in the worst possible ways. Nitpicking through your tax documents, holding information against you and simply giving them access to your account details, all become real possibilities when you don’t take the right measures to safely get rid of these papers.
People already go out of their way to access personal information like this, why make it any easier?
2. The Hassle of Replacing Lost Documents
When you’re not organized, you make it easier for yourself to lose the important within the unimportant. This is only a recipe for a stressful tax season. You’re shuffling through papers, rummaging through cluttered desks, and wasting time that could be spent on maximizing your deductions.
Now, once you do realize that you can’t find the important stuff, you have to request free transcripts from the IRS or face penalties for late or incomplete filing. Additionally, losing important receipts or proof of expenses can also cost you your returns.
A simple way to remedy this is by segregating the important papers and organizing them into files. When you have everything in one convenient location, without the clutter of scattered papers, you know exactly where to look.
3. You Become Susceptible to Identity Theft
You already know the statistics on this one, so let’s dive a little bit deeper.
Identity theft is what happens when someone misuses your personal information to their advantage. When you leave your tax documents around, you make it easier for fraudsters to access personal information that they can misuse to get tax refunds and make purchases by pretending to be you.
That’s why you’ve got to make it a point to keep your documents organized, and permanently discard papers that don’t matter anymore.
Keeping Your Tax Documents Safe
The price you pay for a messy desk is far too high when it comes to tax documents. You need to separate the important papers from the trash and make sure you get rid of the latter in a way that doesn’t involve simply throwing them in your regular bin.
At Marshall Shredding we offer simple, efficient, secure and cost-effective solutions for eliminating documents that contain sensitive information. Check out the range of services we provide and choose one that’s right for you!