How long should you keep important documents?

+1 vote
asked Dec 23, 2018 in Law & Legal by ecilidogiu (370 points)
How long should you keep important documents?

2 Answers

0 votes
answered Dec 23, 2018 by Adelineia (1,920 points)

Important documents that pertain to things such as income tax should be kept for up to 7 years before you can get rid of them.

However some important documents like Titles, Deeds etc should be kept forever or until you sell the item or house, property etc.

I always keep tax records and other important documents like that for 7 years minimum even though sometimes I only need to keep those documents for 2 to 3 years I keep them longer just to be safe.

Bank Records and Bank Statements should be kept for 6 years before disposing of them.

Some other important documents that you should always keep are.

  • Annual tax returns.
  • Deeds, mortgages and bills of sale.
  • Year-end statements for investments.
  • Legal documents (birth certificates, marriage license, divorce papers, passports)
  • Home improvement documentation and receipts.
  • Receipts for major purchases—for warranty and insurance purposes.
  • Wills.
  • Living wills.
0 votes
answered Sep 20, 2020 by Voldemar (470 points)

Business makes the world go round. You can work for one or make your own. But I have always believed that it is better to control your destiny. To start a business, I advise you an electronic signature , because I myself tried this way to start my own business and in the end I assure you that this is the best agreement.

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