Guidelines for record keeping

Guidelines for record keeping

Three Years (from Date of Filing Return or Due Date of Return, Whichever Is Later)
Bank deposit slips
Cancelled checks
Daily sales records
Entertainment records
Expense reports
Paid vendor invoices
Written acknowledgment from charity for contributions of $250 or more

Six Years
Auto mileage logs
Bank statements
Contracts (after expiration)
Records to Retain Permanently
Annual financial statements
Corporate stock records
Partnership/LLC agreement and amendments
Operating agreement and amendments
General ledger and journals
Real estate records
Tax returns
Copy C of Form W-2 (until you begin receiving Social Security benefits)
LIFO inventory records

Other
Depreciation schedules (three years after disposal of asset)
Meeting minutes (life of company)
IRA contribution and distribution records (three years after final distribution)

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