Serving Greater Seattle and North King County
Doug Holman
206-930-1733206-930-1733

YOU MUST: Keep it, store it, or shred it

One of my greatest joys that costs “nuthin” is getting rid of old tax returns and all of the supporting documents that goes along with them.  Don’t get the wrong idea, I’m not saying our tax return is “soooo” complicated because we’ve got “soooo” much stuff going on.  We are not the west coast Trumps.  But I am self employed and we do have a few rental properties.  Those two things together mean itemized deductions and ongoing expenses for both my real estate business and the rental properties.  Which means paperwork. Bleah!

So every year about this time when things slow down at work,  I start purging my office of unnecessary clutter and pointless paperwork.  My 2013 return has been filed (right at the extension deadline) so now I can PURGE anything more than 3 years old, my 2011 return and the crud that goes with it.

Or can I?  Cathy Clayton, title rep extraordinaire from Commonwealth Title says “not so fast.”  Bank statements?  7 years sir.  Same for cancelled checks.  Ack!  Argh!  What?

Perhaps you too should review the handy reference below and tuck it away for your purge of the home office.

Merry Christmas and Happy holidays all.

keep, store, shred

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