Tax Advice from Master Lock & Secure Storage Box Giveaway

~~The giveaway is now CLOSED. Congrats to winner Doreen!~~

Tax Day is just one month away. Have you finished filing your taxes? Master Lock, the leading provider of secure document storage products, has put together five tips to help you organize and safely store important documents for a stress-free tax filing process. I can't wait to share them with you!

1. Purge the paperwork
First things first – clear the clutter. Go through all paperwork and eliminate anything you no longer need, shredding identifying documents to protect against identity theft. Get rid of expired warranties and year-old receipts and bank statements.

2. Safely store crucial records
Designate a specific storage space for vital documents including birth certificates, marriage licenses, passports, wills and social security cards. These items, as well as any important memorabilia, should be stored in a locked, fire retardant box such as Master Lock’s 7142D storage box. Not only will you always know where these items are, they’ll be safe from home mishaps.

3. Create a tax file
Create a separate file for all of your tax documents. We recommend a customizable, portable filing solution such as Master Lock’s 7148D storage box for simple and easy transport to and from meeting with your accountant or tax advisor. Organize this file into 10 categories: income (pay stubs, W-2s, interest statements), medical (medical expenses and health insurance out-of-pocket), donations (cash and non-cash donations), real estate (interest statements from mortgage, tax assessments), child care (payment receipts), tax correspondence (important IRS or state revenue service letters), student loans (statements of payment), miscellaneous receipts (any receipts that might be needed for deductions), payments (records of advance payments) and old tax papers (old tax returns). Continue to use your tax file year-round, and you won’t have to scramble for these documents when it comes time to file next year. 

4. Back up everything
Make digital copies of important documents and store them in your fireproof box on a zip or thumb drive. Use a secure online organization and security solution, such as the Master Lock Vault to store log-in and password information for bank accounts and credit cards as well as lock combinations or key numbers to your file boxes. Consider appointing a guardian as an additional security measure who knows where and how your records are stored for easy access in your absence.

5. Make it a tradition
Select a specific time of year (perhaps when tax time rolls around again) and make your review of these records an annual occurrence. This will ensure your information is streamlined and up-to-date and that finding or organizing this information is never an overwhelming process again.

Here are some major features of the storage boxes mentioned in the tips:

• Large locking security chest with fire retardant insulation

• 4" (10.2cm) x 13-1/4" (33.7cm) x 10-3/4" (27.3cm)

• Durable steel construction stands up to daily use

• Key lock to protect and secure your personal documents

• Fits standard-size documents

• Handle for convenient carrying

• Includes 2 keys

• Locking file box

• 6" (15.2cm) x 13-1/2" (34.3cm) x 10-1/2" (26.7cm)

• Durable steel construction stands up to daily use

• Key lock to protect and secure your personal documents

• Includes 2 keys

I received a 7148D storage box for review. I'm impressed with how sturdy yet lightweight it is. All my file folders and letter sized documents can fit in easily. It comes with two locks for added security. It's highly portable given the upright design and firm handle. It's definitely a great document storage box that we can use all year round!

The Giveaway

Master Lock has generously offered to give one of my lucky readers a Secure Document Storage Box. The winner may choose between 7142D (ARV $30.00) & 7148D (ARV $19.99), the two models featured above.

Required Entry: Leave a comment telling me what you would use the box for if you win. Easy-peasy!(Please leave a valid email address in your comment or make sure one is visible in your blogger profile).

Extra Entries (optional): please make sure you do the required entry first! Please leave a separate comment for each extra entry, i.e. 1 comment=1 entry.

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RT @luckytoddler #Win a Master Lock secure storage box of your choice & get #tax tips! http://bit.ly/mlssb #contest #giveaway #sweeps
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Giveaway ends at 11:59 pm Central Time on 3/25/11

Open to US & Canadian Residents

Winner will be chosen using random.org and will have 72 hours to respond before a new winner is chosen.

Thanks for entering and good luck!

Disclosure: I received free product to facilitate my honest review. The tax advice was provided by Master Lock. No monetary exchange took place. All views and opinions expressed are my own.