Well if you are like me there just seems to be WAY to much paper around! Charlie came across a check list that we thought was a great idea! So I am going to share it with you!
Keep only the most recent…
- paycheck stub
- utility bill
- mortgage receipt
- investment prospectuses and monthly reports
- Insurance policy
- monthy/quarterly investment statements
as you file the latest, shred the previous one. There is no need to accumulate the monthly records of these.
Keep for 7 years….
- Bank statements
- canceled checks
- credit card statements
- tax returns
Tax returns are subject to audit for up to three years after filing, however; the limit is up to six years if income has been underreported by more than 25%. (don’t cheat on your taxes!)
Keep in a safe permanent storage…
- mortgages and deeds
- home improvement records
- diplomas, certificates and school transcripts
- annual investment statements [stocks, bonds, mutual funds, individual retirement account, 401 (k)s …]
- legal paper (leases, trust papers, birth certificates, pass ports…)
I have already started getting this done! I have a lot of paperwork that I didn’t need to have! My shredder is getting a much needed break while I post this! I already have two 13 gallon trash bags full!!! I am not even close to being done!
Be blessed my friends and family! Remember…
VICTORY IN 2009