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| *Loan,banking and credit>>>income tax |
How long should a person keep bank statements or utility payment records or income tax returns? |
We are trying to clean out a storage facility and throw away as much as possible. I don't want to throw away something that would be important but i'm ready to really purge these files. 7 years! My father in alw is a CPA and he waits 7 years to throw anything out. Although only major things like tax and mortgage should be kept that long, smaller things like gas and electric and cel phone can be thrown out after 3 years if yopu really want to purge.It's safe to pitch records after 7 years. Shred!!! I keep mine for 2 years . Seven years. It's the same for the buisness I work for, We keep everything up to seven years old. i was always told a year income tax records = 7 years. i never keep utility statements after i have confirmed they recieved my payment and for the bank statements i would say 7 years also. |
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