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Post Info TOPIC: FINANCIAL RECORDS


Comandante

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RE: FINANCIAL RECORDS
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I would at least keep them for 3 years. When applying for a line of credit or mortgage, the bank will usually ask you for your income tax assesment from the last three years. The Assesment is especially important... I found the hard way hmm.gif
You can always call rev. canada

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Guru

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Are you supposed to keep them for that long???
I always throw them after  I receive my Tax return...Has anyone has any problems in the past?

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Comandante

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From personal experience, I'd suggest you keep at least an item or two from each year (taxes, bank statements, etc) - proving your address of residence, should you ever need proof in the future!

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Foro Master

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TV Buff wrote:

Colombiana4Life wrote:

How long do you guys keep them for? Is there a guideline to this, for example:

Tax Returns
Bank Statements



I try to keep records of everything, but now I do in an organized fashion... it's been a couple of years. For tax info, you're supposed to keep them for 7 years, but I have them for even longer.


So do i, but i really need to shred some stuff, that's why im trying to figure out how long to keep stuff for.  I think im gonna follow that 7 year rule.



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TOP Guru

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Colombiana4Life wrote:

How long do you guys keep them for? Is there a guideline to this, for example:

Tax Returns
Bank Statements



I try to keep records of everything, but now I do in an organized fashion... it's been a couple of years. For tax info, you're supposed to keep them for 7 years, but I have them for even longer.

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Foro Master

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I try to keep them as far as I can. You never know

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Guru

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For businesses I believe it's 7 years.......I don't know about personal records.

Sori!

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Foro Master

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How long do you guys keep them for? Is there a guideline to this, for example:

Tax Returns
Bank Statements


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