Client Guidance
Record Retention Guide
Knowing how long to keep tax returns, receipts, and business records protects you during IRS inquiries and keeps your financial records clutter-free.
Keep Permanently
- Tax Returns & Copy Filings
- CP2000 Audit Letters & IRS Settlement Documents
- Real Estate Deeds & Property Purchase Records
- Corporate Minutes, Articles of Organization & Stock Certificates
- Annual Financial Statements
Keep 7 Years
- W-2 Forms and 1099 Statements
- Cancelled Checks & Bank Statements
- Deductible Expense Receipts & Invoices
- Schedule C & Schedule E Supporting Records
- Uncollectible Bad Debt Records
Keep 3 to 4 Years
- Employment Tax Records & Form 941 Filings
- Credit Card Statements
- Paid Vendor Bills
Keep Until Asset Sold + 7 Years
- Stock & Bond Purchase Confirmations
- Home Improvement & Capital Improvement Receipts
- Depreciation Schedules for Business Equipment