TAX RETENTION INFORMATION
What to TOSS IMMEDIATELY:
- Credit card solicitations, marketing materials included in bank and credit card statements. Preferable shred as an identify theft precautionary step.
- All other advertising and unsolicited mail that you have no intention of acting upon.
What to TOSS after ONE MONTH:
- ATM receipts, deposit slips: after you have reconciled monthly bank and credit card statements.
- Credit card receipts, sales receipts: after you itemize your monthly statements and if you are keeping purchases and there is no warranty.
- Prospectuses: if considering, otherwise toss if you will not read them.
What to TOSS after ONE YEAR:
- Monthly bank statements: as long as you don’t itemize expenses.
- Monthly credit card statements: as long as you don’t itemize expenses.
- Monthly mortgage statements: after you ensure the year-end statement shows the interest and property taxes paid.
- Monthly or quarterly brokerage, mutual fund, and investment reports: after receiving year-end summaries.
- Pay stubs: after you receive and reconcile with W-2 or 1099 forms.
- Phone and utility bills: unless you deduct as business expense, then keep with tax records.
We also have tips on how to reduce the influx of mail and set-up a files systems for the coming year. This will help you maintain and retrieve files quickly, reducing time looking for things and increase your productivity.
Stay tune for Part 2,
My mission is to help you “simply your life, and create your vision of order.”
Call for a free 30 minute consultation to see how I can help you with your mission at, 813-514-5696 nancy@missionorganizing.com
