Some one told me to hang on to my paycheck stubs and reciepts that i get from using my debit card...
why would i need to hold on to these things and when can i shred them??
2006-10-30 08:39:28 · 10 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Hey Bro, I use to feel the same way until $300 came up missing from my checking account. Long story short, banks make mistakes too. Your other receipts, they aren't important unless u make some claims on your taxes that need to be validated b/c of an audit. Try this, get twelve manila envelopes and label them with the months, stuff all your receipts and everything in there for the month and after you've done your taxes and got your refund get rid of them and do it again. Those receipts aren' t important until u need them and u never know when that might be.
2006-10-30 08:52:03 · answer #1 · answered by Big Rob 2 · 0⤊ 0⤋
You never know when you will need information. A pay stub: for a resume if you are looking for a job unexpectantly. If there's any deductions you can figure out if you can get a better insurance rate, etc. At the end of the year, you can hire an accountant to start on your income tax return before waiting for the l099's. And banks do make mistakes, so keep receipts from the debit card.
2006-10-30 08:44:43 · answer #2 · answered by tobeyp2005 3 · 0⤊ 0⤋
A lot of fraud and problems happen with billing and taxes, and it's great to save this stuff ina file so that you can access them and prove fraud or prove payments, etc. If you get a statement and something seems off, and things like that are thrown away, you are s.o.l, and it's very hard to prove in order to get your money back. My bf was victim of identity theft last month, and he got all of his money back quicker with all the prrof he needed to show he had not made that transaction. if you are worried about it, keep it in a locked file or safe, and after you have the statement from the month, check it, make sure it is on there and shred the document, or keep in the safe file for tax write offs and proof.
2006-10-30 08:43:10 · answer #3 · answered by overwhelmed85 3 · 0⤊ 0⤋
i always hold onto mine untill i am sure that i do not need to return the item and also untill the money has been taken out of my account becasue they might take too much out and then you do not have any proof of the amount that they should take. once both of them have been done then i cant think of a reason as to why you should keep them.
2006-10-30 08:43:24 · answer #4 · answered by XX-SEXY-XX 1 · 0⤊ 0⤋
If you are applying for a loan, the companies usually want some kind of proof that you are working, usually a month or two of consistent work.
2006-10-30 08:48:30 · answer #5 · answered by m_scott123 2 · 0⤊ 0⤋
Primarily for itemized tax returns. If you file the short-form, you really don't need them other than for warranties and to prove any discrepancies on your bank statement.
2006-10-30 08:43:53 · answer #6 · answered by Anonymous · 0⤊ 0⤋
That way you have proof that you got paid X dollars or spent X dollars whenthe CC statement gets to ya there maybe fraud, i.e., charginging too much or not depositing enough!
http://www.willyblues.com/
2006-10-30 08:44:08 · answer #7 · answered by Anonymous · 0⤊ 0⤋
paycheck stubs for proof of income tax...shhhhhh, the irs is listening in...just save them.
2006-10-30 08:45:00 · answer #8 · answered by pirate00girl 6 · 0⤊ 0⤋
I download mine once a year. Its easy simple and you can put it on floppy or disk. Screw hard copies!
2006-10-30 08:41:17 · answer #9 · answered by Karrien Sim Peters 5 · 0⤊ 0⤋
So you know how much is in ur checkbook.
2006-10-30 08:42:19 · answer #10 · answered by clairekansas 2 · 0⤊ 1⤋