0
It depends on the type of record.
Proof of the cost of an asset should be kept as long as you own the asset (purchase, modifications, major repairs) but routine upkeep and maintenance records aren't needed for tax purposes.
Employee records may need to be kept for certain time periods based on labor laws, but for tax records you'll want to keep Form W-2 records for at least 5 to 7 years.
Documentation used to fill out your tax returns should be kept for at least 5 to 7 years in case of audit.
Investment information should be kept as long as you own the investment (shows proof of basis, such as reinvested dividends, etc). Remember that monthly statements may not be needed if an annual statement reconciles or shows the activity for the year.
There's probably other documents I didn't cover in this general explanation. If in doubt ask a tax professional regarding your personal situation.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
How long do you need to keep employee time cards?
Employee time cards should be kept for at least two years. For employee leave and absences, records should be kept for at least three years.
How long do you have to keep time cards?
According to the Fair Labor Standards Act (FLSA) web site on this matter (http://www.dol.gov/whd/regs/compliance/whdfs21.pdf), time cards need to be kept for two years. Other payrolls records may need to be kept longer.
What do you need to supeona phone records from a business?
File an action with a competent court with jurisdiction and then you can request a subpoena from the court for necessary records.
How long do you need to keep financial records after someone dies?
7 years
How long should check stubs be kept?
for ever, you never know when you might need them!
What is meant by the term email retention?
The term 'email retention' is when a person or business keeps their emails. They will have an idea or guidelines on which emails need to be kept for their records.
Why do records need to be kept within a workplace?
Records are kept in the workplace to document what was done and why, in case a tax issue arrises or a transaction is questioned. If someone wants to sue the business for something, then the business has records that show what was done, by whom, and when. Workplace records also document when maintenance or repairs were done, to help people remember when they may be needed next. And all of these records can help when the person who did the work moves to another town and someone else has to figure out what needs doing and how it used to be done.
How long do you need to keep employee time cards?
Employee time cards should be kept for at least two years. For employee leave and absences, records should be kept for at least three years.
Public Records?
form_title= Public Records form_header= Find the public records you need with help from experts. What records do you need?*= _ [50] How will you be using the records?*= _ [50] What kind of business do you own?*= _ [50]
How long are medical records kept in Florida?
by law local doctors only need to keep them up to 5 years and public hospitals need to keep them up to 7 years after discharging the patient.
What if items were sold to settle accounts before probate?
As long as they were sold for fair market value, it should be okay. And very good records need to be kept to show the courts.
How long do you keep medical records for patients in Wisconsin?
Medical records need to be kept at least 7 years in their office and another 3 years (either at their office or in another location). A total of 11 years is the requirement throughout the nation.
How long do you need to save checks?
If the checks are business records, most places recommend at least 3 years, so that if there is a tax audit you can show them as receipts.
How long to social workers keep their records?
Social workers typically keep client records for a minimum of 5-7 years, depending on state regulations and agency policies. Some records may need to be kept longer if they involve child welfare cases or other special circumstances.
How long do you have to keep time cards?
According to the Fair Labor Standards Act (FLSA) web site on this matter (http://www.dol.gov/whd/regs/compliance/whdfs21.pdf), time cards need to be kept for two years. Other payrolls records may need to be kept longer.
Can your ex partner hold your deeds to your own property?
As long as the deeds were recorded in the land records all you need to do is visit the land records office and request a certified copy. You don't need the original deed to prove ownership as long as the deed was duly recorded.As long as the deeds were recorded in the land records all you need to do is visit the land records office and request a certified copy. You don't need the original deed to prove ownership as long as the deed was duly recorded.As long as the deeds were recorded in the land records all you need to do is visit the land records office and request a certified copy. You don't need the original deed to prove ownership as long as the deed was duly recorded.As long as the deeds were recorded in the land records all you need to do is visit the land records office and request a certified copy. You don't need the original deed to prove ownership as long as the deed was duly recorded.
What do you need to supeona phone records from a business?
File an action with a competent court with jurisdiction and then you can request a subpoena from the court for necessary records.
