Ever wonder how long you should keep your tax returns? Or maybe employee records? Below we have listed several items and the recommended amount of time they should be kept (electronic format or paper).
|Bank Statements and Canceled Checks||4 years|
|Canceled Checks for Key Transactions (taxes, purchases of property, etc.)||Permanent|
|Contracts and Leases||4 years|
|Stock and Bond Records||Permanent Until Sold|
|Deeds, Mortgages, and Bills of Sale||Permanent|
|Employee Records||3 years|
|Employment Applications||3 years|
|Business General Ledgers||Permanent|
|Insurance Policies (Expired)||6 years|
|Invoices from Vendors||3 years|
|Real Estate and Improvement Records||Permanent|
|Tax Returns and Related Documents||3 years|
|Financial Statements and Work Papers||Permanent|
Individual circumstances and questions should be directed to your lawyer and/or our office for specific recommendation.