Monday, June 26, 2017
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Record Retention Guides

Why Keep Records?

In addition to tax purposes, you may need to keep records for insurance purposes or for getting a loan. Good records will help you:

  • Identify sources of income.

  • Keep track of expenses. .

  • Keep track of the basis of property. 

  • Prepare tax returns. 

  • Support items reported on tax returns.

There is a good resource on the IRS website.  You may also want to download a printable PDF for reference.

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