what documents do i need to keep
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How Long to Keep Tax Records and Other Documents Once you've done that, shred the paper documents (to avoid ID theft) or securely trash electronic files unless you need them to support your tax return. Keep insurance policies and investment statements until new ones arrive. Keep for a year or more. You'll want to hold onto loan documents until the loan is paid off.
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What Personal Documents Should You Keep and for How Long? 1 Paycheck Stubs (You can get rid of once you have compared to your W2 & annual social security statement). 2  Utility Bills (You can throw out after one year, unless you're using these as a deduction like a home office --then you need to keep them for 3 years after you've filed that tax return).
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KHARYBDIS KHARYBDIS (or Charybdis) was a sea monster or goddess whose gigantic whirlpool swirled in the straits of Messina, opposite the cliffs of the monster Skylla. She was probably the goddess of the tides, with her triple drawing-expulsion, mentioned by Homer, representing the three high-low tides of the day.
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How Long to Keep Documents Wondering how long to keep documents? First, determine what the document is. For example, if a document includes monetary information, such as pay stubs or loan statements, these would be categorized under financial documents. Most financial documents are stored by the year and held onto for a number years for later financial auditing, if necessary.
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- It’s a good idea to keep records of the following: 1  Income and expenses. 2  Assets and investments. 3  Debts, shared and personal. 4  Titles and registration documents. 5  Tax returns, filings and supporting documents. 6  Bank statements. 7  Anything else that documents your financial situation.
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How Long Should I Keep Documents? Which documents you need to keep and for how long will depend on your occupation, your family circumstances and where you live. Find out from the appropriate authorities (e.g. bank or credit union, tax office, insurance company) how long you need to keep specific documents. Here is a general guide for some of the more common documents. Keep Indefinitely Identity. You must keep papers that establish your identity, and that of your family, in a safe place and for your whole life.
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How Long to Keep Financial Documents and When to Discard Them How Long to Keep Financial Documents and When to Discard Them. 1  Estate-planning documents: will, power of attorney, advance health-caredirective (living will) and health-care proxy. Store them in a safe-deposit box,but don't put them there and forget it.
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How Long Do I Have To Keep These Papers? Fortunately, what you have here is a handy guide to what you actually need to save, and for how long. Fret no longer! Items to Keep Permanently. 1  Adoption and Custody Papers.  Advance Directive (living will/durable power of attorney for health care)
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What kind of records should I keep? Assets are the property, such as machinery and furniture, that you own and use in your business. You must keep records to verify certain information about your business assets. You need records to compute the annual depreciation and the gain or loss when you sell the assets. Documents for assets should show the following information:
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- 1 Credit Card Receipts (Unless needed for tax purposes and then you need to keep for 3 years). 2  Bank Statements (Unless needed for tax purposes and then you need to keep for 3 years). 3  Quarterly Investment Statements (Hold on to until you get your annual statement). Utility Bills (You can throw out after one year, unless you're using these as a deduction like a home office --then you need to keep them for 3 years after you've filed that tax return). 2  Cancelled Checks (Unless needed for tax purposes and then you need to keep for 3 years).
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How long should you keep important documents? You probably already know that important documents such as tax returns, bank statements and paycheck stubs need special attention, but for how long, and in what format? And what is the best way to safeguard all that personal data?
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What Personal Documents Should You Keep and for How Long? 1 Credit Card Receipts (Unless needed for tax purposes and then you need to keep for 3 years) 2  Bank Statements (Unless needed for tax purposes and then you need to keep for 3 years)  Quarterly Investment Statements (Hold on to until you get your annual statement)
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- What to keep for 1 year. 1  Paycheck Stubs (You can get rid of once you have compared to your W2 & annual social security statement) 2  Utility Bills (You can throw out after one year, unless you're using these as a deduction like a home office --then you need to keep them for 3 years after you've filed that tax return)
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How Long Should I Keep Old Documents? In those cases, keep the receipts with the product manual until the warranty expires or with your tax papers. Bank deposit or withdrawal slips: After you reconcile with your monthly statement; Credit card and bank statements: 7 years if you need them for tax support, otherwise one year.
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When to Throw Away Financial Documents But it doesn’t have to be that way. Some of those papers need to be kept, but others can be shredded and tossed. Here’s a guide on what to keep and for how long. Receipts. Receipts for anything you might itemize on your tax return should be kept for three years with your tax records.
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Closing Documents You Should Keep Closing Documents You Should Keep. On closing day, expect to sign a lot of documents and walk away with a big stack of papers. Here’s a list of the most important documents you should file away for future reference. 1  HUD-1 settlement statement. 2  Itemizes all the costs — commissions, loan fees, points, and hazard insurance —associated with the closing. 3  You’ll need it for income tax purposes if you paid points.
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How Long to Keep Financial Documents and When to Discard Them Share | Subscribe. Most people hold onto boxes full of financial records, tax returns and pay stubsthey no longer need. And they don't always keep the records they do need. Here are guidelines on what you need to keep, and for how long.1  Estate-planning documents: will, power of attorney, advance health-caredirective (living will) and health-care proxy. 2  Store them in a safe-deposit box,but don't put them there and forget it.hare | Subscribe. Most people hold onto boxes full of financial records, tax returns and pay stubsthey no longer need. And they don't always keep the records they do need. Here are guidelines on what you need to keep, and for how long.
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- You may also consider reviewing the following documents to ensure that you've got all of your legal matters covered: 1  Existing Will, Trust or other Power of Attorney forms. 2  Financial paperwork: Bank statements and stock/bond information. 3  Property deeds.
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- Paperwork that you can toss: Bank statements: Generally speaking, you only need to keep bank statements for one year, BUT if you think that you may be applying for Medicaid, many states require that you show five year’s worth of bank statements.
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What You Need To Keep (And For How Long) (While certain documents are only required for 3 years, the fact that tax information is required for 4 years will allow consistency.). Benefit Plan Records. Plan documents, election forms, eligibility determination records, notices, etc.
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What to Shred When sorting through dusty file boxes or the pile of papers on your desk, it’s easy to become confused as to which records you need to keep and those you should shred. Here are some guidelines to help you determine how long to keep records: 1  Tax Records: Seven years, to be safe. 2  Pay Stubs: One year. 3  Bank Statements: One year. 4  Credit Card Statements: At least 45 days. 5  Medical Records: At least a year, but often longer. 6  Insurance Records: Keep policy information for the life of the policy plus an additional five ...
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How Long Should I Keep Old Documents? 1 Bank deposit or withdrawal slips: After you reconcile with your monthly statement. 2  Credit card and bank statements: 7 years if you need them for tax support, otherwise one year. 3  Annual investment statements: Until you sell the investments, then hold them for 7 years after you sell with your tax papers.
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How Long to Keep Tax Records and Other Documents How to Store Your Files. 1  Use a fireproof safe or password-protected electronic file for the following: Bank and investment statements, estate-planning documents, pension information, insurance policies, pay stubs, tax documents, and your safe-deposit box inventory list.
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How Long Should I Keep Documents? Keep for 5 years. 1  Taxation documents, including personal tax returns, company returns and, if registered for GST (or VAT), records of payments and refunds.  In the case of a tax audit, investigations can cover a period of up to 5 years. Keep the documents relating to your tax declarations for this period.
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- 1 Credit Card Receipts (Unless needed for tax purposes and then you need to keep for 3 years). 2  Bank Statements (Unless needed for tax purposes and then you need to keep for 3 years). 3  Quarterly Investment Statements (Hold on to until you get your annual statement).
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- 1 Bank Statements (Unless needed for tax purposes and then you need to keep for 3 years). 2  Quarterly Investment Statements (Hold on to until you get your annual statement). 3  Income Tax Returns (Please keep in mind that you can be audited by the IRS for no reason up to three years after you filed a tax return. Utility Bills (You can throw out after one year, unless you're using these as a deduction like a home office --then you need to keep them for 3 years after you've filed that tax return). 2  Cancelled Checks (Unless needed for tax purposes and then you need to keep for 3 years).