February 2, 2015
If there’s one time of the year that may inspire you to finally come up with a filing system for all of your bank statements, receipts and other important documents, it’s tax season. Not only will keeping your documents organized make it easier and less stressful for you to find what you need on a daily basis (and when you are getting ready to have your taxes prepared), it will also ensure that if something happens to you, your loved ones will be able to quickly find essential information about your finances and other relevant items.
One of the major challenges that many people encounter when they start going through their documents is knowing what they should keep and for how long. The following list from Consumer Reports may help you determine what to keep and what to toss (remember to shred all sensitive documents before you put them in the recycling bin or trash) once tax season is over:
Documents to keep for a year or less
Documents to keep for at least a year
Documents to archive for seven years
Documents to keep indefinitely
If you’ve already instituted a filing system for your key documents, kudos to you. If you haven’t, now is the perfect time to do so. If you have any questions about which financial records you need to keep or which ones you can safely dispose of, please let us know, we are happy to help.
BOSS is the answer to your back office headaches. Our cloud-based solution enables you to hand complex accounting tasks over to us. We work the numbers while providing you 24/7 access to your data—and all at a fixed, affordable monthly fee.
We can all get caught up in the day…meetings, calls, texts, emails and the myriad of other workday demands that pile up quickly and can create unwanted stress.
Kevin Tomas is a CPA – Senior Manager at Greene Finney, LLP. He specializes in managing and supervising back office support system (BOSS) and his specialty lies in working with government and nonprofit entities. Kevin went to Bob Jones University and graduated in 2004 with a Bachelor's of Science degree in Accounting. When he’s not working in the office, Kevin enjoys spending time with his family and hiking. Here are some other interesting thoughts and experiences he’s shared to introduce himself on a more personal level.
Labor Day is upon us—a popular holiday that is dedicated to the millions of women and men who keep this country going strong. For many, it also means that it’s time to break out the grill for that big end-of-summer celebration. And because most of us aren’t Grill Masters, this is a good time for a refresh on some basic grilling safety tips to keep everyone safe and the party going.