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TurboTax keeps records for tax purposes for up to seven years.

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9mo ago

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How long should a small business keep tax records for?

A small business should keep tax records for at least seven years.


How long do you have to keep utility bills for record-keeping purposes?

It is generally recommended to keep utility bills for record-keeping purposes for at least one year.


How long should I keep brokerage statements for?

You should keep brokerage statements for at least seven years for tax and record-keeping purposes.


How long are you supposed to keep expense records?

If you are referring to expense records used for tax purposes, then you should keep them for the same time period you keep copies of all of your tax documents. This should be a minimum of 3 years from when the due date of that tax year's deadline or when the tax was paid, whichever was later. This is so that you have them in the case of an audit (which is typically in that time frame). So for your 2009 tax returns, if you had a deadline of April 15, 2010 and paid your taxes by that date, then you would keep those tax returns until April 15, 2013.You owe additional tax and situations (2), (3), and (4), below, do not apply to you; keep records for 3 years.You do not report income that you should report, and it is more than 25% of the gross income shown on your return; keep records for 6 years.You file a fraudulent return; keep records indefinitely.You do not file a return; keep records indefinitely.You file a claim for credit or refund* after you file your return; keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later.You file a claim for a loss from worthless securities or bad debt deduction; keep records for 7 years.Keep all employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.


How long do you typically keep utility bills for?

Typically, it is recommended to keep utility bills for at least one year for record-keeping purposes and to compare usage patterns.

Related Questions

How long do you need to keep accounts receivable records?

Various companies keep the records various times. For the most part (for tax purposes) it is best to keep all records for 5 to 7 years after the date.


How long do you keep accounting records in the US?

How long to keep accounting records for business in the US


How long do you have to keep records?

They have to keep records for 6 years after your last appointment


How long to keep deceased medical records in Georgia?

Many people would keep a deceased person's records for at least 10 years. Many people keep these records for longer than that.


How long do the keep ticket records?

They'll appear on your MVR for seven years. Insurance companies typically look at the past three years. If you're keeping records simply for financial purposes, you keep the records for as long as you see fit to. If you need to submit a driving record for a job application, they'll ask for a copy of your MVR, which you get from your state's DMV records office. In the case of insurance companies reviewing your driving records, they have the capability to do that online.


How long do you have to keep tax records for a business?

We must keep tax records for 10 years for a business


How long can companies keep your personal information after you close an account by law?

Most company's for tax purposes are required to keep all transactions, including personal information, for up to 7 years, at which time the records can be destroyed.


How long should an employer keep payroll records?

employer keep payroll records maxium 1 year .


How long should an insurance broker keep records in California?

You should keep the records for a minimum of 5 years.


How long do you keep office records?

as long as you want 2 i guess!!!


How long do you keep medicine records for?

5 years


How long do banks keep records of cashed checks?

At least as long as the IRS requires records of transactions, 7+ years