Shredding and Thoughts on an Anxious System

Shredding DSC00379As part of our downsizing, simplifying, and search for a greener home, I have been cleaning up old financial records that I had basically just boxed up and kept forever. I checked online sources to figure out which records I actually needed to keep and which ones I could throw away and recycle.

I found out that the IRS has three years from your income tax filing to audit your tax return for miscellaneous errors, and six years if they suspect you of underreporting income, so they suggest you keep all your returns and documentation for seven years. As a minister, this means I must also keep the documentation for all housing expenses, since our housing allowance is treated differently for taxes than regular salary. I have also read that I should keep anything related to purchase or sale of a house, and permanent improvements to the house. (If you think you might want to do some shredding, please do your own research on this, because I am not an accountant or tax expert.)

I have been doing this process for an hour or two at a time, because the shredder gets tired after a bit of time, and I do too. I’ve fed it thousands of old receipts, old bills, old bank statements, old tax returns. I have filled up four huge trash containers with paper for recycling. I am just getting up to the seven-year mark in my papers–starting from many years ago I’m finished up to 2007. What am I learning? It takes almost as much work to eliminate old papers as it did to acquire them. Finances have gotten so complicated that they take more time and energy than I want to give to them. In the financial world “green” does not refer to environmentally sustainable.

It makes me realize that the structure of our society’s economic system is based on fear and anxiety. The IRS is the adversary who might bang at our door and discover we threw away the letter acknowledging a donation. I am not against the idea of taxes or contributions to social security. (I don’t appreciate that so much of the money goes to weapons and war.) Ideally, taxes are the way we support the Common Good, the way we recognize and contribute to shared resources like roads and firefighters and schools and libraries and care for our elders. I wish healthcare for everyone was also included among those shared resources. I deeply value giving energy to the Common Good.

And I wish there were a way to approach it all beyond anxiety and the complicated accumulation of records. I am curious if others have found a way to truly simplify the financial processes in our lives?

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