Recordkeeping

Good records make tax time faster, back up your deductions and make an IRS letter a lot less stressful. We can help you set up a simple system and stick to it.

How long to keep tax records

These are the IRS's general guidelines. When in doubt, ask us.

• 3 years from the date you filed, for most returns
• 6 years if income was underreported by more than 25%
• 7 years if you claimed a loss from worthless securities or a bad debt
• 4 years for employment tax records after the tax is due or paid
• Property records: until the period of limitations runs out for the year you sell or dispose of the property
• Indefinitely if a return was never filed

Make it easy on yourself

• Keep digital copies. A phone photo of a receipt counts.
• Use one folder per tax year and drop documents in as they arrive.
• Upload to our secure portal instead of email.