Dispose Table Of Contents Record For Free

The best way to ensure privacy is to permanently destroy documents by using a mobile document shredding service. This is the best way to guarantee that old documents are rendered unusable.

There are two types of situations in which records could be inadvertently destroyed. The first type is natural or man-made disasters, and would include flood, fire, hurricanes, tornadoes and explosions. The second type are provider induced disasters or disasters caused by negligence.

Obsolete records need to be destroyed in order to: Ensure official records systems are reliable and efficient. Reduce risk of sensitive or personal information falling into the wrong hands. Reduce maintenance and storage costs.

You must be able to produce receipts, invoices, canceled checks or bank records that support all expense items. You should also keep sales slips, invoices or bank records to support all income items. These records should be retained for at least 10 years after they have expired.

KEEP 3 TO 7 YEARS Knowing that, a good rule of thumb is to save any document that verifies information on your tax return?including Forms W-2 and 1099, bank and brokerage statements, tuition payments and charitable donation receipts?for three to seven years.

Any records that contain confidential information that should not be seen by others should be securely destroyed. Leaving hard copies lying around, sending an electronic document to your trash, or filing it away in an old folder can put you at risk if it's not destroyed.

Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.