Re: [taxchat] Record Retention

Simple docs like vendor invoices 3 years, payroll info 7 years, some things 10 years, and any fixed asset purchases keep for three years past the last year of depreciation. If it's Intangible assets I will be keeping them indefinitely.

On Mon, Dec 1, 2008 at 12:52 PM, Laura Morton <laura@10keysolutions.com> wrote:

Ok….another year is about to come to a close not to mention I have an overflowing storage unit of 'paper'!!

 

How long as practitioners are we to maintain the backup to financial statement preparation and tax returns?

 

I am ready to shred boxes but don't want to get too aggressive!!

 

Thanks!

 

Laura M. Morton, EA

10 Key Solutions

Accounting Solutions for the Small Business

770-985-1621

770-985-6618 fax

www.10KeySolutions.com

 

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