Now that April 15th is over, and you've survived - or not - paying your taxes, did you have all the paperwork necessary, did you miss anything, lose anything, keep too much information that wasn't necessary?
If so you are not alone! Here is what you should hold onto:
For paperwork concerning your income - KEEP W-2's, 1099 form, bank statements, form K1 (if you are in a partnership).
For paperwork concerning your expenses - keep sales slips, invoices, receipts, canceled checks or other proof of payment.
For paperwork concerning your home - keep any closing statements, purchase and sales invoices, proof of mortgage payments, insurance records.
For your investments - keep any brokerage statements, mutual fund statements, 1099 and 2439 forms (for long-term Capital Gains if any).
You should keep records for at least 3 years, and more information can be found in IRS Publication 552, Recordkeeping for Individuals.
Jane Loveday
Windermere Real Estate Agent
619-519-1615 Cell
http://janeloveday.com
http://www.facebook.com/realestatesandiego
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