Record Keeping for Taxes

June 25, 2018

What record keeping system should I have?

If you are an employee of a company, your system needn’t be complex – you can keep your records separated in folders. If you are a […]
June 25, 2018

What other records should I keep?

If you purchased goods that you plan to sell later, you should keep the receipts to calculate your gain or loss on it correctly. Anything regarding […]
June 25, 2018

How long should I keep old tax returns?

If you are audited, it is very likely that the auditor will ask to see the last few tax returns. It is recommended to keep these […]
June 25, 2018

How long should I hold onto these documents?

It is recommended that you keep these documents for three to seven years, depending on the document. Check the Retention Guide on this site for additional […]