How long do you need to keep documents,i.e. payroll stubs, cancelled checks, bill receipts, etc?

Answer 1

As long as you need to keep tax records 7 years! Shred anything over that age!

Answer 2

As long as you need them. Sorry, not trying to be a wise-guy with that.

Tax documents such as payroll stubs, cancelled checks for deductible items, etc. 3 years from the end of the year in which the taxes were due. Best to keep them for 5 years, however. Pay stubs (or W-2s) and possibly tax returns should be kept forever if you think you may need proof of income for Social Security purposes.

Real estate documents: As long as you own the property + 3 - 5 years for tax purposes.

Other receipts: As long as the warranty runs, for proof of purchase.

Utility bills: At least until the next bill comes, for proof of payment. Keep as long as real estate or tax records if for rental properties.

Insurance documents: As long as the policy is in force, and as long as any claims are pending, if any.

Social Security documents: Forever.

Medical records: Forever.

Family records such as birth and death certificates: Forever.

Answer 3

I was told 3 years, for tax purpose's by an acountant check it out