By Robin L. Cook, CWS®, CTFA®
For many of us, the task of gathering documents for tax return preparation is still fresh in our minds. You might be wondering, “How long should I keep these and other important documents?” Here’s a few suggestions for your review.
Consider going digital by scanning and storing records in a secure cloud or external drive. This frees up physical space and makes document retrieval easier. Ensure robust cybersecurity measures are in place. Digital records also protect against loss due to natural disasters. Always shred or securely dispose of documents you no longer need to protect sensitive information like bank account numbers and Social Security details.
Organized document retention simplifies life, protects against legal and financial issues, and saves time. When in doubt, keep documents related to taxes, finances, or legal matters. Your future self will thank you!
