How far back should you keep bank statements and checks?

Question

Cleaning out our filing cabinet and was wonder what could go and what should stay.

Answer 1

At least 3 years. Some financial things need to be kept for 7 years.
Anything concerning a house has to be kept until it is sold, otherwise you may have to pay taxes on money that should have been expensed.

Answer 2

while you're purely a common, consumer-friendly citizen who would not contain in any enormous corporation or tradings, i does no longer complication to maintain those records for long - For me, I save statments of all varieties for a million years. government papers like tax returns, i could say 3 -5 years. there won't be lots to tension approximately if no longer something important or enormous ensue on your existence. See why could somebody audit your stuff in case you have purely wages and financial company activity of a hundrd money in line with 12 months? yet of direction, this is a various tale while you're making enormous money or contain in many financial events and have huge useful properties/losses.

Answer 3

If you have access to online than I wouldn't worry to much, plus, you can always call your bank, everythings on computer.

Bank statements, about 6 months. canceled checks from small business or people ( I wouldn't keep larger utilitiy companys) about 7 years. (in case you have to prove you paid)

Answer 4

We keep all records for 7 years. that may be a little overkill but you never know, and now we add a year and remove a year. good luck

Answer 5

If you live in UK, 6 years