How long is long enough?

  • Personal Documents To Keep For One YearWhile it’s important to keep year-end mutual fund and IRA contribution statements forever, you don’t have to save monthly and quarterly statements once the year-end statement has arrived. 
  • Personal Documents To Keep For Three Years
    • Credit Card Statements
    • Medical Bills (in case of insurance disputes)
    • Utility Records
    • Expired Insurance Policies 
  • Personal Documents To Keep For Six Years
    • Supporting Documents For Tax Returns
    • Accident Reports and Claims
    • Medical Bills (if tax-related)
    • Property Records / Improvement Receipts
    • Sales Receipts
    • Wage Garnishments
    • Other Tax-Related Bills
  •  Personal Records To Keep Forever
    • CPA Audit Reports
    • Legal Records
    • Important Correspondence
    • Income Tax Returns
    • Income Tax Payment Checks
    • Investment Trade Confirmations
    • Retirement and Pension Records 

Business Documents To Keep For One Year  

Business Documents To Keep For Three Years  

Business Documents To Keep For Six Years  

Business Records To Keep Forever  

Special Circumstances

Written by Patrick Wirth, CPA, CVA | Partner
Posted in Business Advisory, Tax