Every month I recieve a ton of mail, from bank statements to credit card statements and bills. I never what I should store and what is okay to toss. It's way too much to keep it all.|||credit card statements ideally-1 year minimum-3 months (to dispute charges)
utilities- can be tossed as soon as they are paid (unless you have a unique tax situation that would require you to keep them)
Bank statements-personal accounts 1-3 months
business 7 years
tax records- 7 years|||You would do well to keep it for a long time. For example, your tax records can be audited for 7 years. That is unless they audit you and find something wrong. The problem is that they almost always find something wrong and then go back as far as they want. Also, canceled checks and credit card monthly statements are sometimes helpful. If Sears comes to you and tells you that you missed a payment 7 years ago (which happens) you can show your canceled check or credit card info.|||that stuff is only info- RECORDS must be kept 7 years- IRS will not audit over 3 years
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment