tax records? brokerage statements? bank statements? credit card statements?mutual fund records?
2006-10-03 09:40:13 · 11 answers · asked by cejrej1963 1 in Business & Finance ➔ Personal Finance
you should keep all of them and in a safe place like a bank or a home safe. You may need all of them one day. They may save you money too. For example, if you are audited one day and have to prove your financial earnings were legit. or if something like a house fire happens you have all this important stuff at hand if protected properly. If you keep them at home then put them in a fire proof safe. If not get a safe deposit box at your bank.
2006-10-03 09:44:48 · answer #1 · answered by Baby girl 3 · 0⤊ 0⤋
Tax records: IRS can audit back 3 years. Depending on what state, usually they audit back 4 years. However, if they detect fraud or tax evasion, they can go back as far as they want.
Brokerage statement: life of the investment
Bank Statement: if there's interest income, same as tax records.
Credit Card Statement: if there are receipts that were used for tax deduction, see tax records. otherwise, at least one year, in case of purchasing items with warranties.
Mutual fund record: life of the investment
2006-10-03 10:09:36 · answer #2 · answered by Mayu 2 · 0⤊ 0⤋
Well, Basically all the expenses should be kept, at least for 4-6 months.
Liabilities that are still active should be taken note.
Personal Financial records like bank loan,tax records and the ones that u state there... should be kept.
2006-10-03 09:44:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Off the top of my head and not looking it up:
Tax Records: Five years
Brokerage Statments: Depends on the business but I would say forever on that one.
Bank Statments: 2 -3 years
Credit Card Statment: One year
Mutual funds: Five years
2006-10-03 09:43:56 · answer #4 · answered by Dominika 3 · 0⤊ 0⤋
Depends where you are, but I keep my tax records, pay stubs and banking statements for 10 years. Many people keep all of their receipts too. If you are ever audited it's better to be safe than sorry!
2006-10-03 09:43:31 · answer #5 · answered by Iristine 2 · 0⤊ 0⤋
The IRS can ask for information as much as seven years previous. different than which you may in all probability bypass to on line economic employer statements. I did, after a detective with North Richland Hills, TX PD despatched me a letter declaring my preparation grow to be chanced on interior the possession of a individual being investigated for identity robbery! maximum information now could be stored on your computing gadget, or on line. And revealed at will. I scanned only approximately all of our previous relatives photos and uploaded them to unfastened on line photograph web pages , like information superhighway-photos, and flickr. So, if there's a hearth or something else that could harm the originals, i will nonetheless have the copies. making use of on line storage, you are able to likely shop some information lots longer than seven years. in case you progression, you isn't lugging a great field of information with you the two.
2016-10-01 21:42:20 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Keep everything having to do with your taxes...and box it up and keep for 5 years just to be on the safe side.
2006-10-03 09:42:10 · answer #7 · answered by Me 3 · 0⤊ 0⤋
All of the above and for 7 years.
2006-10-03 11:20:50 · answer #8 · answered by Anonymous · 0⤊ 0⤋
you don't really HAVE to keep anything after you file taxes, but if the IRS ever took an interest, they usually want a seven year back log
2006-10-03 09:42:02 · answer #9 · answered by yonitan 4 · 0⤊ 0⤋
What Country are you talking?
2006-10-03 09:43:02 · answer #10 · answered by Videofan 7 · 0⤊ 0⤋