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Document to keep and those you can shred

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How do you know what needs to be shredded?

Feb. 27, 2019

Getting ready to do your tax return means going through a lot of paperwork. Some documents you need to keep; others can get tossed.

Here's some advice from Consumer Reports:

You can shred receipts for credit card purchases, ATM transactions and bank deposits after you reconcile them with your monthly statements.

As far as tax records go:

It's best to keep documents that deal with income or deductions for seven years.

Hold on to loan documents until the loan is paid off.

If you have investments in stocks, bonds or mutual funds, keep the purchase confirmations until you've sold them.

More Info:

How Long to Keep Tax Records and Other Documents?

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