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To Keep or Not to Keep, That is the Question!

Documents to Keep Permanently

  • Annual tax returns
  • Year-end summaries from financial service companies
  • Stock and bond certificates
  • Deeds of property and ownership, auto titles, insurance policies
  • Home improvement records
  • Health records, wills and powers of attorney
  • Birth certificates, adoption and custody records, death certificates

 

Documents to Keep Temporarily

  • Keep paycheck stubs until reconciled with W-2 or 1099 forms
  • Phone and utility bills for one year (seven if business-related)
  • Monthly bank and credit card statements for one year
  • Monthly mortgage statements for one year
  • Brokerage/mutual fund statements until reconciled at year end
  • Year end statements from credit card companies for seven years
  • W-2 and 1099 forms for seven years
  • Cancelled checks/receipts for tax-deductible items for seven years

 

Discard or Shred

  • ATM, bank deposit slips and credit card receipts once reconciled
  • Non-tax deductible receipts for minor purchases
  • Old magazines and articles not read within the past six months
  • Receipts, instructions and warranties for items you no longer own (or warranties that have expired)



NAPO