![]() If you plan to sell the house, and you have made improvements to it, keep receipts for those improvements for seven years - you may need them to lower the taxable gain on the house when you sell it. Hold these for at least three years after the due date of the tax return that includes the income or loss on the home when it’s sold. ![]() How long to keep: A minimum of three years, but as long as seven years. Try storing them in a file folder broken out based on spending categories. Receipts for anything you might itemize on your tax return should be kept for three years with your tax records. ![]() Here’s a guide of which financial documents to keep and for how long. You can go paperless and throw some of those financial documents away! Some of those papers you have collected need to be kept, but many others can be shredded and tossed. If you haven’t already opted to go paperless, you might be swimming in a flood of receipts, bills, pay stubs, tax forms and other financial documents.
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